Fundacion Fatronik, a privately funded, European technology research company, has extensive experience in the development of high speed packaging robotics. The initial product, the Adept Quattro, is based on Fatronik's patented four parallel arm concepts, enabling ultra-high speeds and more consistent performance, important considerations for a wide range of packaging including loading, kitting, cartoning and case packing.
Under the terms of the agreement Fatronik will provide Adept with exclusive use of the patented technology. Adept and Fatronik will both fund and participate in the commercialization of the mechanism and incorporation of the applications into the standard Adept control platform.
Adept will own all Intellectual Property (IP) associated with the commercialization of the Quattro product line including the final manufactured design and the integration of controls, vision and tracking software into the robot.
Initially distribution will focus on existing Adept markets in the European Union, United States, Canada and South East Asia. Adept will also use these products to partner with distribution in Japan, South Korea, Russia and Taiwan. Fatronik has been licensed by Adept as the first value added packaging integrator for the Adept portfolio of robots, including the Quattro.
"Following the enthusiastic reviews of the Quattro technology showcase last fall, we are now taking orders for initial volume delivery in our April quarter. Currently, using COBRA and Viper robots, packaging represents over 25% of our product revenues. Quattro will allow Adept to offer a compete portfolio to the mainstream market," said Robert Bucher, chief executive office of Adept Technology, "In addition, Quattro's unique capabilities offer an excellent opportunity for Adept to access the major Asian robot markets including Japan."
According to the ARC Advisory Group (Dedham, Mass), there are over 250,000 food and pharmaceutical packaging lines. Producers, increasingly concerned with labor cost, cleanliness and government regulations, are motivated to update and replace existing packaging lines with robotics. The current, estimated US and EU market for high speed packaging robots is between 1,000 to 1,500 robots or $50-100M USD per year.
Adept will be showcasing the Quattro at the ATX West 2007 show in Anaheim, California from Feb 13-15, 2007.
About Adept Technology, Inc.
Adept Technology, Inc. designs, manufactures and markets robotic systems, motion control and machine vision technology for global markets including automotive, consumer electronics, consumer goods, disk drive, food, industrial tooling, medical devices, and pharmaceutical. Adept robots, controllers, and software are used for small parts assembly, material handling and packaging. Adept intelligent automation product lines include industrial robots, configurable linear modules, machine controllers for robot mechanisms and other flexible automation equipment, machine vision, and systems and applications software. Founded in 1983, Adept Technology is the largest U.S.-based manufacturer of industrial robots. More information is available at www.adept.com.
Adept Technology, Inc.
Lauren Bucher, 925-245-3533 (Press and Industry Analysts)
Steve Moore, 925-245-3413 (Financial Analysts)
Chief Financial Officer