U.S. Army, Navy and DARPA Contracts Worth a Total of $4.4 Million
Bedford, Mass., November 17, 2008 – iRobot Corp. (Nasdaq: IRBT) today announced it has been awarded six new Phase Two Small Business Innovative Research (SBIR) Grants. These projects are to be funded by the U.S. Army Tank Automotive Research, Development and Engineering Center (TARDEC), the U.S. Army Armament Research, Development and Engineering Center (ARDEC), the Office of Naval Research (ONR) and the U.S. Army Research Office (ARO). These six awards are worth a total of $4.4 million.
Under these contracts, iRobot will develop technology related to human-robot interaction, unmanned ground and air vehicle coordination, semi-autonomous unmanned ground vehicle tele-operation and navigation, and electronics diagnostics and health monitoring. These technologies will provide increased capabilities for iRobot’s military robots, including PackBot, SUGV and Warrior by making them smarter, easier to use and integrated with unmanned aerial vehicles (UAVs).
“As support for our military robots continues to grow, agencies from across the DoD look to iRobot as a leader in developing next generation robotics capabilities,” said Joe Dyer, president of iRobot Government and Industrial Robots. “Through awards such as these, iRobot is able to develop new technologies and deliver new capabilities to the warfighter. Keeping our troops safe is our first and foremost strategic priority.”
iRobot has delivered more than 2,000 PackBot robots that make a difference every day by conducting dangerous missions that keep warfighters out of harm's way.
About iRobot Corp. iRobot designs and builds robots that make a difference. The company’s home robots help people with smarter ways to clean, and our government and industrial robots protect those in harm’s way. iRobot’s consumer and military robots feature iRobot AWARE™ robot intelligence systems, proprietary technology incorporating advanced concepts in navigation, mobility, manipulation and artificial intelligence. For more information about iRobot, please visit www.irobot.com.
For iRobot Investors Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, iRobot Corp.’s expectations concerning estimates of future revenues and product development. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things: our dependence on the U.S. federal government and government contracts; changes in government policies or spending priorities. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot Corp. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot Corp., see the disclosure contained in our public filings with the Securities and Exchange Commission, including, without limitation, our most recent Annual Report on Form 10-K.
Contact: | |
Elise Caffrey Investor Relations iRobot Corp. (781) 430-3003 ecaffrey@irobot.com |
Nancy Smith Media Relations iRobot Corp. (781) 430-3323 nsmith@irobot.com |