Sarcos Signs Manufacturing Services Agreement with Jabil to Advance Production Capabilities for Sarcos Robotic Systems

Rhea-AI Summary

Sarcos Technology and Robotics Corporation (NASDAQ: STRC, STRCW) has announced a collaboration with Jabil Inc. to enhance its production capacity for advanced robotic systems. This partnership will enable Sarcos to leverage Jabil’s extensive manufacturing services and global supply chain capabilities, significantly accelerating production of its robotic systems, including the Guardian® XT™ and Guardian® XM models. The collaboration will involve manufacturing across Sarcos' Salt Lake City and Pittsburgh facilities, along with Jabil’s site in San Jose, California. Sarcos anticipates increased production of its commercial robotics technologies throughout 2023.

Positive

• Collaboration with Jabil is expected to significantly enhance Sarcos' production capabilities.
• Access to Jabil’s advanced manufacturing services enables faster scaling of robotics production.
• Increased production of commercial robotics technologies anticipated throughout 2023.

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• None.

Jabil’s manufacturing expertise, supply chain knowledge and robotics experience to enable Sarcos to gain scale and supply chain benefits for its innovative products

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, is collaborating with Jabil Inc., a leading manufacturing solutions provider, to expand Sarcos’ production capacity for its robotic systems and sub-systems.

Under the terms of the agreement, Sarcos will utilize Jabil’s broad manufacturing services to produce a variety of leading-edge robotic systems and sub-systems. Sarcos also will be able to leverage Jabil’s global footprint, strategic supplier relationships, and state-of-the-art manufacturing facilities to accelerate volume production while benefiting from advanced supply chain, procurement, and component-sourcing solutions.

“We expect that our relationship with Jabil will advance Sarcos’ manufacturing capabilities tremendously, helping to augment our overall production capacity and enabling us to scale much faster than we could without their support,” said Kiva Allgood, president and CEO, Sarcos. “We are excited to work with a proven manufacturing services leader that has a long-standing record of success and an established global network of vendors and partners as we begin delivering our robotic systems to our customers.”

Sarcos expects to increase the production of its commercial robotics technologies throughout 2023, with manufacturing and assembly occurring at a combination of Sarcos’ facilities in Salt Lake City and Pittsburgh, as well as Jabil’s San Jose, California-based production site. Sarcos anticipates that Jabil will primarily produce sub-systems for Sarcos’ commercial products this year, particularly the Guardian® XT™ dexterous robotic system and may also include the Guardian^® XM intelligent robotic system and Guardian^® Sea Class Robotic System. In 2023, final system assembly is expected to take place at Sarcos facilities.

“Jabil is pleased to provide our value-added manufacturing services, which we are confident will expand Sarcos’ overall production capacity in a highly cost-effective and efficient manner,” said Craig Trotter, vice president of the capital equipment business unit, Jabil. “Our deep expertise in materials science, mechanical assembly, and human-machine interfaces, along with final assembly and test, will prove pivotal in accelerating world-class production of Sarcos’ industry-leading robotic systems and sub-systems.”

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 https://www.linkedin.com/company/sarcos.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding product manufacturing capacity, the intended systems and sub-systems to be produced by Jabil and the benefits expected from outsourcing manufacturing to Jabil. 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/20230322005236/en/

Sarcos PR/Investor Contact:

ir@sarcos.com

mediarelations@sarcos.com

Source: Sarcos Technology and Robotics Corporation

FAQ

What is the significance of Sarcos' collaboration with Jabil?

Sarcos' collaboration with Jabil will enhance its production capacity and speed up the manufacturing of advanced robotic systems.

Which robotic systems will Jabil produce for Sarcos?

Jabil will primarily produce sub-systems for Sarcos' Guardian® XT™ and Guardian® XM intelligent robotic systems.

Where will Sarcos manufacture its robotic systems?

Manufacturing will take place at Sarcos' facilities in Salt Lake City and Pittsburgh, as well as Jabil's site in San Jose, California.

When is Sarcos expected to increase its robotics production?

Sarcos expects to increase its production of commercial robotics technologies throughout 2023.