Phase I completion demonstrates application of
Palladyne AI software platform for use on industrial robots in
unstructured environments
Palladyne AI Corp. (NASDAQ: PDYN) (NASDAQ: PDYNW) (“Palladyne
AI”), a developer of artificial intelligence software for robotic
platforms in the commercial and defense sectors, today announced
that it has completed Phase I of its previously announced
multi-million-dollar contract with the Air Logistics Complex at
Warner Robins Air Force Base in Georgia. Phase II will continue
integration and use case validation of Palladyne IQ software for
use in remediation activities including media blasting for complex
aircraft components. This is the second year of a contemplated
four-year effort valued at $13.8 million, the result of Palladyne
AI’s selection in the highly competitive Strategic Funding Increase
(STRATFI) program emerging from the Air Force’s innovation
incubator, AFWERX AFVentures.
In Phase II of the contract, Palladyne IQ software will be used
in preparation of complex, high-value aircraft components of
varying types and sizes via detection, identification, and surface
mapping to maintain the correct distance and angle for optimal
application of surface preparation materials.
“The Palladyne AI software is a transformational technology that
will benefit both commercial and Department of Defense (DoD)
industrial and maintenance automation advancements,” said Mr. Shane
Groves, Warner Robins Air Logistics Complex Robotics and
Automation. “The software has successfully shown the ability to
autonomously prepare contoured surfaces using sanding and media
blasting techniques and has delivered high-value to our repair and
maintenance operations in a short amount of time. I have no doubt
that this critical work will deliver long-term benefits for Warner
Robins Air Logistics Complex industrial automation and
productivity.”
“The U.S. Air Force continues to broaden access to disruptive
technologies through their support and engagement with emergent
technologies and novel commercial solutions,” said Ben Wolff,
President and CEO, Palladyne AI. “We look forward to this continued
partnership to advance our Palladyne AI autonomy software with
agility, focus, and speed to automate dull, boring, and dangerous
tasks that have historically been too challenging and complex to
automate.”
For more information on Palladyne AI and its artificial
intelligence software for robotic platforms, please visit
www.palladyneai.com.
About Palladyne AI Corp.
Palladyne AI Corp. (NASDAQ: PDYN) has developed an advanced
artificial intelligence (AI) and machine learning (ML) software
platform poised to revolutionize the capabilities of robots,
enabling them to observe, learn, reason, and act in a manner akin
to human intelligence. Our AI/ML Software Platform empowers robots
to perceive variations or changes in the real-world environment,
enabling them to autonomously maneuver and manipulate objects
accurately in response.
The Palladyne AI/ML Software Platform operates on the edge and
dramatically reduces the significant effort required to program and
deploy robots enabling industrial robots and collaborative robots
(cobots) to quickly achieve autonomous capabilities even in dynamic
and or complex environments. Designed to achieve precise results
with minimal training time, limited data sets, and lower power
requirements, compared to current solutions, Palladyne AI believes
its software has wide application, including in industries such as
automotive, aviation, construction, defense, general manufacturing,
infrastructure inspection, logistics and warehousing. Its
applicability extends beyond traditional robotics to include
Unmanned Aerial Vehicles (UAVs), Unmanned Ground Vehicles (UGVs),
and Remotely Operated Vehicles (ROVs). Palladyne AI’s approach is
expected to elevate the return on investment associated with a
diverse range of machines that are fixed, fly, float or roll.
By enabling autonomy, reducing programming complexity and
enhancing efficiency, we are paving the way for a future where
machines can excel in tasks that were once considered beyond their
reach. For more information, please visit www.palladyneai.com and
connect with us on LinkedIn at
www.linkedin.com/company/palladyneaicorp.
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 the future uses of the
Palladyne IQ software by the Warner Robins Air Logistics Complex,
including during Phase II of the contract, the benefits of the
software to the Warner Robins Air Logistics Complex, the
capabilities or future capabilities of Palladyne AI’s software
platform and products generally, the benefits of the software
platform and products and the industries that could benefit from
them, the impact of the software platform and products on robotics
and the applicability of the software platform to different kinds
of machines (such as UAVs, UGVs and ROVs and different available
industrial robots). 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 Palladyne AI’s 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 Palladyne AI 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 Palladyne AI 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 Palladyne AI 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 Palladyne AI
with the SEC may be obtained free of charge at the SEC’s website at
www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20241008687272/en/
Investor Contact: IR@palladyneai.com
Press Contact: PR@palladyneai.com
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