RENO, NV--(Marketwired - Aug 25, 2017) - On the Move Systems (
"This advanced battery from Romeo allows our autonomous security robot to patrol for longer periods of time, increasing its efficiency and operational success. As we gear up to deploy more advanced robotic solutions to the market, the battery life and power will be a critical feature we can offer to end users," said Steve Reinharz, President and Founder, RAD. "Additionally, Romeo Power is an ideal technology partner as it leads the charge in developing power solutions that drives today's modern technology deployments."
As part of the company's alliance, Romeo Power will deploy two S5 autonomous security guard robots at its Vernon, Calif., headquarters, to patrol its 113,000-square-foot manufacturing facility and the surrounding property.
"We are excited to have the opportunity to leverage RAD robotics to help increase safety, enhance productivity and control access to our facility," said Michael Patterson, CEO and Founder, Romeo Power. "Furthermore, our partnership with RAD will allow us to further refine the lithium-ion battery for use within the artificial intelligence market, which is expanding at a rapid rate."
Romeo Power, founded by engineers and designers from SpaceX, Tesla, Samsung, and Amazon, focuses on battery pack innovation, safety and reliability for manned and unmanned vehicles, and personal power products.
RAD has commenced to deploy robots to end users. To date RAD has commitments for 62 robots for total contract values of approximately $6 million. OMVS has successfully completed its due diligence process on RAD as part of the binding LOI that was entered into on May 10th, 2017 for the purchase of 100% of RAD by OMVS. It is anticipated that the acquisition will close before August 31, 2017.
RAD currently has signed agreements for 2 POC's with major companies.
RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations.
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CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of On the Move Systems to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. On the Move Systems undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in On the Move Systems expectations.
Investor Relations: Everest Corporate Advisors Inc. Jack Thompson www.everestcorp.net 702-902-2361
