RELEASE: Rainbow Robotics signs commercial agreement with Schaeffler and the Korea Institute of Electronic Technology

(Information sent by the signatory company).

RELEASE: Rainbow Robotics signs commercial agreement with Schaeffler and the Korea Institute of Electronic Technology

(Information sent by the signatory company)

-Rainbow Robotics signs trilateral commercial agreement with Schaeffler and the Korea Institute of Electronic Technology for the development of AI-based dual-arm mobile robots

BERLIN, Feb. 22, 2024 /PRNewswire/ -- Rainbow Robotics, the robotics platform company, announced that it had signed a memorandum of understanding (MOU) to co-develop AI-enabled dual-arm mobile robots with Schaeffler and the Institute of Electronic Technology of Korea (KETI).

The signing ceremony was attended by Dr. Michael Pausch, Chief Technology Officer of Schaeffler's Industrial Division, Lee Jung-ho, CEO of Rainbow Robotics, and Shin Hee-dong, President of KETI. The agreement will see the joint development of AI-based dual-arm mobile robots and corresponding operational technologies for autonomous manufacturing and will identify new business models to strategically expand in the global market.

Under this agreement, Schaeffler will develop and supply key components, including gearboxes for two-arm mobile robots. Meanwhile, KETI will support the application of artificial intelligence technology for manufacturing processes based on international standards. Rainbow Robotics will be responsible for developing AI-based robot operation solutions and overseeing the production of the dual-arm mobile robot. This collaboration will see jointly developed dual-arm mobile robots deployed at production sites in Germany and Korea to develop successful use cases for autonomous manufacturing and promote joint cooperation to expand sales to global markets.

Autonomous manufacturing is a futuristic production environment that uses AI-based technology and robots in manufacturing facilities throughout the manufacturing process. It is a technology that can sustainably increase the productive efficiency of smart factories through artificial intelligence with minimal human intervention.

Dr. Lee Jung-ho, CEO of Rainbow Robotics, stated, "Rainbow Robotics has already entered into technical development cooperation with Schaeffler for the development of two-armed mobile robots through pilot projects. It is important for us to advance AI dual-arm mobile robot technology with Schaeffler, a global specialist in industrial and automotive machinery with extensive experience, and KETI, which leads research in AI-based manufacturing innovation technology, to contribute to the commercialization of the autonomous manufacturing in the global market."

Dr. Michael Pausch, Chief Technology Officer of Schaeffler's Industrial Division: "Korea is at the forefront of the robotics industry and we are excited to partner with Rainbow Robotics to drive advancements in this area. As a world-leading robotics technology company, movement, we are committed to pushing the boundaries of innovation to create automated solutions that improve efficiency and contribute to the evolution of smart and sustainable production processes."

Shin Hee-Dong, President of KETI, said, "Through this agreement, we will provide KETI's technology for the development of the dual-arm AI mobile robot with Rainbow Robotics and Schaeffler Group, reinforcing the creation of a successful model for Global R&D".

As part of a three-day visit, representatives from Rainbow Robotics and KETI visited the Schaeffler headquarters in Herzogenaurach to deepen cooperation for the development of robotic components. They also visited Schaeffler's Digital Transformation Center and the Innovation and Technology Center for Production Systems at its headquarters in Erlangen, which are developing and demonstrating future production technologies.

Schaeffler supplies innovative products and solutions in the field of motion technology, including high-precision components and systems for various industrial and automotive applications. In particular, the company focuses on expanding intelligent and digital automation solutions and leads the development of precision components and solutions for industrial and light robotics.

Meanwhile, Rainbow Robotics continues its leap towards a leading robot platform specialist in the global robot market by introducing robots with world-class quality, Korean-style service and reasonable prices as part of its world-class quality, K-service, Price Strategy C (WKC).

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