Sarcos Robotics and Changi Airport Group Execute Demonstration of an Outdoor-Based Baggage Handling Robotics System

Rhea-AI Summary

Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) announced a partnership with Changi Airport Group (CAG) to develop an autonomous baggage loading system. This prototype, demonstrated in September 2022 at Singapore Changi Airport, aims to automate loading and unloading of passenger bags, enhancing workplace safety and addressing labor shortages in ground handling. CAG's investment is supported by Singapore's Civil Aviation Authority, promoting innovative robotics in the aviation sector. The collaboration is expected to improve operational efficiency and reduce passenger delays due to staffing challenges.

Positive

• Collaboration with Changi Airport Group to develop autonomous baggage loading system.
• Demonstration of prototype confirmed potential for reducing workplace injuries and enhancing labor efficiency.
• CAG's investment supported by Singapore's Civil Aviation Authority, increasing credibility and funding for robotics initiatives.

Negative

• None.

SALT LAKE CITY--(BUSINESS WIRE)-- Sarcos Technology and Robotics Corporation (“Sarcos”) (NASDAQ: STRC and STRCW), a leader in the design, development, and manufacture of advanced robotic systems that redefine human possibilities, and Changi Airport Group (CAG) announced the inaugural demonstration of a jointly developed outdoor-based autonomous baggage loading system prototype.

In collaboration with CAG, Sarcos is developing an outdoor-based baggage loading system to automate the loading and unloading of loose passenger bags from narrow-bodied aircraft. The inaugural field demonstrations were conducted during September 2022 at Singapore Changi Airport and validated the opportunity for robotics to reduce the risk of on-the-job injuries from baggage handling and augment the ground handling labor force.

To support air traffic recovery and meet long-term staffing needs, CAG is investing in robotics technology to automate labor-intensive roles in the outdoor apron environment. Autonomous technologies will be needed to meet a significantly increased need for airport employees. The development and trial of the baggage loading system is partially funded by the Civil Aviation Authority of Singapore (CAAS) through its Aviation Development Fund (ADF). The ADF supports initiatives to improve productivity in the Singapore aviation sector through the use of innovative solutions.

“Changi Airport is an industry visionary and continues to be a key development partner to Sarcos,” said Kiva Allgood, president and CEO, Sarcos. “Deploying robotics to improve workplace safety is core to our mission at Sarcos and this system has the potential to transform airports across the globe by making them safer and reducing passenger delays due to weather-related downtime. We look forward to continuing our collaboration with CAG to augment the workforce of the tarmac with robotics.”

“Similar to major airports throughout the world, recruiting enough ground handling personnel to support our growth is a challenge,” said Poh Li San, senior vice president of Terminal 5 Planning, CAG. “We have been encouraged by the innovative solution from Sarcos to help address these issues, and we’re excited to explore the next steps towards implementation.”

For more information on Sarcos and its product portfolio, please visit www.sarcos.com. For more information on Changi Airport Group, visit www.changiairportgroup.com.

About Sarcos Technology and Robotics Corporation

Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) designs, develops, and manufactures a broad range of advanced mobile robotic systems that redefine human possibilities and are designed to enable the safest, most productive workforce in the world. Sarcos robotic systems operate in challenging, unstructured, industrial environments and include teleoperated robotic systems, a powered robotic exoskeleton, and software solutions that enable task autonomy. For more information, please visit www.sarcos.com and connect with us on LinkedIn at www.linkedin.com/company/sarcos.

About Changi Airport Group

Changi Airport Group (Singapore) Pte Ltd (CAG) (www.changiairportgroup.com) was formed on 16 June 2009 and the corporatisation of Singapore Changi Airport (IATA: SIN, ICAO: WSSS) followed on 1 July 2009. As the company managing Changi Airport, CAG undertakes key functions focusing on airport operations and management, air hub development, commercial activities and airport emergency services. CAG also manages Seletar Airport (IATA: XSP, ICAO: WSSL) and through its subsidiary Changi Airports International, invests in and manages foreign airports.

As one of Asia’s most connected international aviation hubs, Changi Airport links Singapore to over 120 cities globally, with over 80 airlines operating more than 4,000 weekly flights. Jewel Changi Airport, a multi-dimensional lifestyle destination, opened in April 2019, adding to Changi Airport’s shopping and dining offerings of over 550 F&B and retail outlets across the airport. The world’s most awarded airport, Changi has won 650 accolades for its consistent and excellent airport staff service, passenger experience and safety standards.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Sarcos’ plans to expand its product availability and future collaboration between Sarcos and CAG. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or “continue” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results, or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Sarcos’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Sarcos is not under any obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Readers should carefully review the statements set forth in the reports which Sarcos has filed or will file from time to time with the Securities and Exchange Commission (the “SEC”), in particular the risks and uncertainties set forth in the sections of those reports entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements,” for a description of risks facing Sarcos and that could cause actual events, results or performance to differ from those indicated in the forward-looking statements contained herein. The documents filed by Sarcos with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221207005326/en/

Investor Contact:

Ben Mimmack

Head of Investor Relations

(801) 419-0438

mediarelations@sarcos.com

ir@sarcos.com

Source: Sarcos Technology and Robotics Corporation

FAQ

What is the partnership between Sarcos and Changi Airport Group about?

Sarcos and Changi Airport Group are collaborating to develop an autonomous baggage loading system to improve efficiency in ground handling at airports.

When was the prototype for the baggage loading system demonstrated?

The inaugural demonstration of the autonomous baggage loading system prototype took place in September 2022.

What are the benefits of the autonomous baggage loading system?

The system aims to reduce the risk of on-the-job injuries and address labor shortages in airport ground handling.

How is the development of the baggage loading system funded?

The project is partially funded by the Civil Aviation Authority of Singapore through the Aviation Development Fund.

What is the stock symbol for Sarcos Technology and Robotics Corporation?

The stock symbol for Sarcos Technology and Robotics Corporation is STRC and STRCW.