Genesis Advanced Technology 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 LiveDrive actuator, that will advance robotics designs and platforms.
“We are excited to partner with Koch to commercialize LiveDrive as well as our other pioneering technologies,” said Michael Gibney, president of Genesis Advanced Technology.
“The investment will enable us to further our work on mechanical inventions to benefit society.”
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.
“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.”
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.”
Rothschild & Co. served as financial advisor and Sullivan & Cromwell LLP acted as legal counsel to Genesis Advanced Technology. Jones Day acted as legal counsel to KCTG.
