Ekso Bionics® Secures Purchase Orders for the EksoVest™ from Two Global Aerospace Manufacturers
Aerospace Industry Leaders Piloting Wearable Exoskeleton to Enhance Worker Safety, and Reduce Fatigue and Risk of Injury on Assembly Production Lines of Commercial and Defense Airplanes
RICHMOND, Calif., Dec. 10, 2018 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (NASDAQ: EKSO), an industry leader in exoskeleton technology for medical and industrial use, today announced that it has secured purchase orders for the EksoVest™ from two global aerospace manufacturers to create and expand pilot programs, respectively. The assistive devices will be piloted by workers on the assembly production lines of commercial and defense airplanes to enhance safety, reduce fatigue and risk of injury.
In the U.S. alone, more than $21 billion is spent per year on workplace-related injuries, which negatively impacts productivity. Use of an assistive device can be an effective approach to reduce the physical demands involved in overhead work, while increasing endurance and productivity. These pilot programs will explore several applications where roughly 50 EksoVests can assist workers with heavy tools and repetitive overhead tasks in the airplane manufacturing process.
“The benefits of the EksoVest in manufacturing have already been seen in the automotive industry by global leaders like Ford, and integration is underway on many assembly lines globally,” said Jack Peurach, president and chief executive officer of Ekso Bionics. “The aerospace industry has similar challenges and demands with overhead work and we are confident that the EksoVest will prove to be a solution that enhances both the well-being for its workforce and productivity.”
The EksoVest is a wearable upper body exoskeleton technology that is designed to support a worker’s arms while performing overhead tasks. By providing lift assistance from five to 15 pounds per arm, the EksoVest reduces the strain and fatigue on workers, lowering their overall risk of injury. In addition, workers are able to complete tasks in a shorter amount of time while maintaining or improving the level of quality.
Specific and financial details of the purchase orders were not disclosed.
About Ekso Bionics®
Ekso Bionics® is a leading developer of exoskeleton solutions that amplify human potential by supporting or enhancing strength, endurance and mobility across medical and industrial applications. Founded in 2005, the company continues to build upon its unparalleled expertise to design some of the most cutting-edge, innovative wearable robots available on the market. Ekso Bionics is the only exoskeleton company to offer technologies that range from helping those with paralysis to stand up and walk, to enhancing human capabilities on job sites across the globe. The company is headquartered in the Bay Area and is listed on the Nasdaq Capital Market under the symbol EKSO. For more information, visit: www.eksobionics.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of human exoskeletons, (ii) estimates or projection of financial results, financial condition, capital expenditures, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, changes resulting from the Company’s finalization of its financial statements for and as of the period and year ended December 31, 2017, information or new changes in facts or circumstances that may occur prior to the filing of the Company’s Annual Report on Form 10-K that are required to be included therein, the Company's inability to obtain adequate financing to fund the Company's operations and necessary to develop or enhance our technology, the significant length of time and resources associated with the development of the Company's products, the Company's failure to achieve broad market acceptance of the Company's products, the failure of our sales and marketing organization or partners to market our products effectively, adverse results in future clinical studies of the Company's medical device products, the failure to obtain or maintain patent protection for the Company's technology, failure to obtain or maintain regulatory approval to market the Company's medical devices, lack of product diversification, existing or increased competition, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. To learn more about Ekso Bionics please visit us at www.eksobionics.com. The Company does not undertake to update these forward-looking statements.
Released December 10, 2018