Genesis Robotics enters into strategic venture with Koch

Genesis Robotics enters into strategic venture with Koch

April 9, 2018

Genesis Advanced Technology (GAT) and KCTG, the industrial-technology and engineered-equipment unit of Koch Industries, announced today Genesis Robotics, a subsidiary of GAT, has received a strategic, controlling investment from Koch.

Under the companies’ agreement, they will form a new company — Genesis Robotics and Motion Technologies (Genesis Robotics) — to commercialize innovative electric motor and actuation technologies, including the LiveDriveTM actuator, that will advance robotics designs and platforms.

Engineers testing their products

Genesis has developed technologies that will change the way robots are built and move.

James Klassen, CTO Genesis Robotics and Motion Technologies

“Genesis has developed technologies that will change the way robots are built and move,” added James Klassen, inventor of LiveDrive and chief technology officer of Genesis Robotics. “Koch’s global reach in marketing and commercialization, as well as their history of successfully growing businesses, will allow us to continue to work with industry-leading companies who can benefit from incorporating our technologies into their offerings.”

“We are excited to partner with Koch to commercialize LiveDrive as well as our other pioneering technologies,” said Michael Gibney, president of Genesis Advanced Technologies. “The investment will enable us to further our work on mechanical inventions to benefit society.”

Discussion and presentation of the gears in action

LiveDrive, a revolutionary direct-drive electric actuation technology, provides significantly higher torque to weight ratio, zero backlash, greater speed and higher precision than current offerings.

Bob DiFulgentiz, KCTG president and chief operating officer, said, “Our significant investment in Genesis Robotics enables Koch to partner with a team developing disruptive technologies in the rapidly growing robotics market. We are pleased that James Klassen will continue to lead technology development for this venture, and we look forward to many more innovations from James and the entire Genesis Robotics team.”

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Statement on COVID-19

Genesis Robotics & Motion Technologies is committed to the health and safety of all our employees, their families, and our communities during these challenging times.

We have instituted flexible work-from-home capabilities for most of our team and implemented safety measures for our team members who are required or prefer to work on-site. These include enhanced cleaning/sanitation procedures, physical distancing, PPE, and personnel location scheduling.

We would like to acknowledge and give a special, “Thank You!” to our health care and front-line workers who continue to protect and inspire us daily during this on-going and difficult time.

I am very proud of the Genesis Robotics & Motion Technologies Team and grateful for our committed customers, suppliers, and shareholders as we continue to meet our deliverables and product development goals. Together we will persevere and overcome this difficult situation.

Chris Di Lello
CEO

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