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The latest installation is part of a rollout across 240 One Kitchens locations across the U.S. and integrates the company’s new commercial management business, AlphaMax Management, which was created to streamline the robots’ integration into customers’ businesses.
LAS VEGAS, Aug. 20, 2024 (GLOBE NEWSWIRE) — Richech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a Nevada-based provider of AI-powered service robots, announces the installation of its advanced ADAM robotic beverage system in a One Kitchen at a Walmart in Rockford, IL. This milestone is the second installation as part of a planned rollout to 240 One Kitchen locations across the U.S. One Kitchen restaurants offer multiple national and local brands in a single kitchen. The Walmart in Rockford will also install a Matradee L and a DUST-E S from Richtech Robotics.
The installation is also part of Richtech Robotics’ new commercial management company, AlphaMax Management, LLC (“AlphaMax Management”), which was formed to streamline the integration of the company’s robots into customers’ businesses. As a wholly owned subsidiary of Richtech Robotics, AlphaMax Management is responsible for the entire commercial workflow of One Kitchen restaurants within Walmart to better integrate the robots’ operations into traditional restaurant operations and provide comprehensive restaurant data analytics, digital marketing and artificial intelligence application integration.
“We continue to achieve new milestones, this time celebrating the first humanoid beverage robot in the state of Illinois and also officially launching AlphaMax Management,” said Matt Casella, President of Richech Robotics. “Our new subsidiary is expected to generate a new revenue stream as well as stable cash flow and profit. We look forward to its continued growth.”
Equipped with cutting-edge AI technology, ADAM began operations at Rockford One Kitchen on August 16th2024, and serves customers a selection of coffee and boba drinks. The robot is expected to serve 100-200 cups of coffee and tea per day.
Richech Robotics will handle programming, maintenance and repair of the ADAM systems, while One Kitchen will handle staffing, site logistics and leasing. ADAM will operate through a fully integrated touchscreen POS system for ordering and payments, offer customized drinks on demand and engage customers with its intelligent conversational AI.
About Richech Robotics
Richech Robotics is a collaborative robotic solutions provider specializing in the service industry, including hospitality and healthcare. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and enable businesses to achieve more. By seamlessly integrating cutting-edge automation, we strive to create a landscape of improved interactions, efficiency and innovation that drives businesses to unprecedented levels of excellence and satisfaction. For more information, visit www.RichtechRobotics.com and contact us via X (Twitter), LinkedInAnd YouTube.
About Ghost Kitchens International (GKI)
GKI already has restaurants across Canada and the U.S. and is expanding to open 240 more restaurants under the ONE KTICHEN banner in the U.S. and Canada. Each restaurant features multiple national brands cooked to order, a single operator, innovative front and back end technology, and customers who are comfortable walking in or receiving delivery. For more information, visit www.ghostkitchenbrands.com.
Forward-looking statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking words such as “anticipate,” “believe,” “project,” “estimate,” “expect” and “intend.” Forward-looking statements are predictions, forecasts and other statements about future events that are based on current expectations and assumptions and therefore are subject to risks and uncertainties.
These forward-looking statements are based on Richtech Robotics’ current expectations and actual results may differ materially. There are a number of factors that could cause actual events to differ materially from those indicated in these forward-looking statements. These factors include, among others, risks related to the number of One Kitchen locations that will ultimately install and integrate ADAM, risks related to the actual annual revenue generated by each One Kitchen location, and risks related to the number of cups of coffee and tea actually served per day by each robot. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (the “SEC”) on March 27, 2024 and periodic reports filed with the SEC on or after the date hereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all of these risk factors and other cautionary statements. The information contained herein speaks only as of the date hereof. New risks and uncertainties emerge over time, and Richtech Robotic cannot predict these events or their impact on Richtech Robotic. If the events and circumstances described in Richtech Robotics’ forward-looking statements change, Richtech Robotics’ business, financial condition and results of operations may differ materially from those described in Richtech Robotics’ forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements. Richtech Robotic undertakes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Investors:
CORE IR
Matt Blazei
[email protected]
Media:
Timothy Tanksley
Director Marketing
Richech Robotics, Inc.
[email protected]
702-534-0050
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