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…credit officer] did work with Caterpillar and Dell, so we have a lot of experience. We have a $100 million debt facility.” “Formic's costs are predictable—we don't charge line items,” Kerr said. “We transition customers to an easy model. There's no CAPEX, and we're able to come in 42% below what facilites do today with manual labor.” “We've built an…
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…is backed by investors including Caterpillar Venture Capital Inc., Delta Air Lines, GE Ventures, Microsoft, and Schlumberger. In April, Sarcos announced that it will become publicly listed through a merger transaction with Rotor Acquisition Corp., a publicly-traded special-purpose acquisition company (SPAC). The transaction is expected to close in the third quarter of 2021, at which point the combined company’s common…
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…XT. Sarcos is backed by Caterpillar Venture Capital Inc., Delta Air Lines, GE Ventures, Microsoft, and Schlumberger. The Guardian S is designed to navigate unstructured and unpredictable environments. Its man-portable design, slim form factor, and IP65 water-protected structure are optimal for inspecting narrow piping and tanks, traversing vertical ferromagnetic surfaces, stairs, culverts, and other unstructured terrain and confined spaces, said…
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…systems? Williams: Sandvik is the Caterpillar of the underground mining space. When you combine georeference data and autonomy, it's a key linkage between capturing mining data and using it. Before, you'd have to go in and manipulate each point cloud to fit a gap in a map. Now, a user can hit a button on a tablet, and it's automatically…
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…managed by Palantir Technologies Inc., Caterpillar Venture Capital Inc., Schlumberger, and JAWS Estates Capital LLC. Upon closing, the combined company’s common stock is expected to trade on Nasdaq under the ticker symbol “STRC.” The transaction represents an enterprise value of $1.3 billion, plus a potential earnout of an additional $281 million based on the combined company’s future share trading price,…
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Caterpillar is sponsoring a new partnership with South Dakota Mines that explores technologies such as autonomous robotic mining, software used to manage mining and construction operations, and new equipment that increases efficiency and safety. These technological advancements will increase sustainability of the earth’s natural resources while improving productivity and promoting economic development, the collaborators say. South Dakota Mines will help…
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…retired senior learning consultant at Caterpillar Inc., is this year's honoree. Harrelson is being acknowledged because of his lifelong contributions to manufacturing; commitment to serving as a role model and motivator for young engineers; and his long-term, active involvement in SME. 2020 Ronald P. Harrelson Outstanding Young Manufacturing Engineers: Daniel R. Cooper, Ph.D., University of Michigan Ann Arbor, Michigan Gabriela…
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…in manufacturing: Electrolux, Ford, and Caterpillar, have continued to push the industry forward with innovations in materials, speed, and costs. Electrolux | 3D Print On Demand to Lower Costs As the company moves toward “smart factories” for the production and manufacturing of its domestic appliance products, Electrolux, a Swedish domestic appliance manufacturer, is embracing 3D printing for the manufacturing of…
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…Speaker Tana Utley, vice president, Caterpillar Inc. discuss how she has navigated her 30+ years at Caterpillar. Registration and more information about the event is available online. The Pack Expo Drone Demo – “Packaging for the Last Mile” interactive display is another addition to the Pack Expo Las Vegas show floor. Electric truck and drone maker Workhorse is partnering with…
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…iNovia Capital with participation from Caterpillar Ventures, GE Ventures, Eclipse Ventures, RRE Ventures and Silicon Valley Bank. Clearpath will use the funding to grow the company’s industrial division, OTTO Motors. Clearpath launched OTTO Motors in 2015 to focus on self-driving vehicles for material transport inside manufacturing and warehouse operations. “Factories operate like small indoor cities, complete with roads, traffic, intersections…
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…global resource deployment champion with Caterpillar, put it, simply adding more human labor to mounting operational pressures won’t cut it. “We are really going to have to automate and use robotics, because if we try to do this in a warehouse-type setting with manual labor, it’s going to take a legion of people,” he said. In MHI’s industry report there…
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