Oshkosh Corporation Invests in Robotic Research to Build Upon Autonomy and Robotics Capabilities

Rhea-AI Summary

Oshkosh Corporation (NYSE: OSK) has announced a strategic partnership and investment in Robotic Research, aiming to enhance innovation in autonomous mobility and driver assistance systems. This collaboration builds on their previous work since 2017 with the U.S. Department of Defense. Both companies anticipate that this initiative will benefit various essential services, including military and emergency responders. Oshkosh’s investment follows Robotic Research’s $228 million funding round, which marks a significant milestone in its two-decade history.

Positive

• Oshkosh Corporation has formed a strategic partnership with Robotic Research to enhance innovation in autonomous technologies.
• Continued collaboration since 2017 with Robotic Research and the U.S. Department of Defense reinforces Oshkosh's commitment to advanced technologies.
• Investment in Robotic Research follows their successful $228 million funding round, indicating confidence in growth potential.

Negative

• None.

OSHKOSH, Wis. & CLARKSBURG, Md.--(BUSINESS WIRE)-- Oshkosh Corporation (NYSE: OSK), a leading innovator of mission-critical vehicles and essential equipment, and Robotic Research, a global leader in autonomous mobility and Advance Driver Assistance Systems (ADAS) solutions, announced today a strategic partnership and an Oshkosh Corporation investment in Robotic Research to accelerate its innovation and autonomy offerings.

The companies began working together in 2017 on autonomy programs for the U.S. Department of Defense⁠ — Oshkosh is now expanding their relationship with Robotic Research, whose robotics and autonomous driving technologies align well with Oshkosh products and use cases. The new partnership and joint development agreement will further complement Oshkosh’s ongoing work in autonomous vehicles and equipment, providing significant benefits to the millions of people that do essential work every day – including the nation’s soldiers, firefighters and first responders, as well as environmental service and construction workers.

“With this strategic partnership, we position ourselves for continued growth within these critical and groundbreaking technologies,” said John C. Pfeifer, Oshkosh Corporation president and chief executive officer. “Together, our work will provide our customers with robust and functionally safe solutions along with a clear path to production that is unmatched in the industry.”

“We are thrilled to expand our relationship with Oshkosh to deliver safety technologies for these key industries across the nation,” said Alberto Lacaze, Robotic Research’s chief executive officer. “Our companies have successfully worked alongside each other for many years and we are proud to further demonstrate the value our technology provides as we expand our solutions into the environmental service, construction, and emergency services markets.”

Oshkosh’s investment follows Robotic Research’s December 2021 $228 million series A funding round —the first outside capital the company has raised in its 20-year history.

About Oshkosh Corporation

At Oshkosh (NYSE: OSK), we make innovative, mission-critical equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs approximately 15,000 team members worldwide, all united behind a common cause: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG®, Pierce®, Oshkosh® Defense, McNeilus®, IMT®, Jerr-Dan®, Frontline™, Oshkosh® Airport Products, London™ and Pratt Miller. For more information, visit oshkoshcorp.com.

®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary.

About Robotic Research

Robotic Research is a global technology company that has delivered autonomous mobility and robotics solutions to the defense sector for two decades. RR.AI’s vehicle-agnostic, full-stack autonomy kit (AutoDrive®) is a proven autonomous driving system for both on and off-road environments and is trusted by industry-leading OEM partners. It is uniquely suited to provide an end-to-end, 360° autonomous driving solution for commercial transportation that spans across complex operational design domains (ODDs).

To learn more about Robotic Research, visit roboticresearch.com.

Forward Looking Statements

This news release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include cybersecurity risks and costs of defending against, mitigating and responding to data security threats and breaches impacting the Company; the Company’s ability to successfully identify, complete and integrate acquisitions and to realize the anticipated benefits associated with the same; and risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals; impacts of the conflict in the Ukraine, including impacts on supply chains, logistics, input costs, capital markets and demand; and the negative impacts of the COVID-19 pandemic on global economies and the Company’s customers, suppliers and employees.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220426005534/en/

Financial:

Patrick Davidson

Senior Vice President, Investor Relations

920.502.3266

Media:

Bryan Brandt

Senior Vice President, Chief Marketing Officer

920.502.3670

Robotic Research:

Don Lefeve

VP for Corporate Affairs

202.372.5356

Source: Oshkosh Corporation

FAQ

What is the partnership between Oshkosh Corporation and Robotic Research about?

Oshkosh Corporation has entered a strategic partnership with Robotic Research to accelerate innovation in autonomous mobility and driver assistance systems.

How will the Oshkosh and Robotic Research partnership impact essential service sectors?

The partnership aims to provide enhanced safety technologies for sectors such as military, environmental services, construction, and emergency services.

What was the significance of Robotic Research's $228 million funding round?

The funding round marked the first outside capital raised by Robotic Research in its 20-year history, highlighting growth opportunities.

When did Oshkosh Corporation and Robotic Research start collaborating?

The collaboration began in 2017, focusing on autonomy programs for the U.S. Department of Defense.

What stock symbol is associated with Oshkosh Corporation?

Oshkosh Corporation is listed under the stock symbol OSK on the NYSE.