Bright Machines gives manufacturers a
competitive advantage
Today, Bright Machines, an industry leader in intelligent,
software-defined manufacturing, and United Equipment Accessories
(UEA), are announcing that UEA has selected Bright Machines to
deploy an industrial automation platform at their production
facility in Waverly, Iowa. With Bright Machines Microfactories, a
combination of intelligent software and adaptive robotics, UEA will
be best positioned to scale and build resilience into their
operations.
UEA designs and manufactures highly engineered, custom motion
products, including electrical slip rings, rotary unions, cable
reels, and shift controls. Founded in 1952, they are an Iowa-based,
family-run business whose products are used by equipment
manufacturers in the U.S. and around the world for a wide variety
of industries, including wind energy, agriculture, entertainment,
and oil and gas.
"We're thrilled to support manufacturers like UEA, who want to
quickly scale up their operations by taking advantage of modern
manufacturing solutions that provide higher ROI, lower cost, and
more flexibility versus other alternatives," said Amar Hanspal, CEO
and co-founder of Bright Machines. "We know that their customers
demand the highest level of quality from UEA products, and we’re
proud to be able to help them deliver on those expectations.”
"Partnering with Bright Machines is our first venture into
automation, and we couldn’t be more pleased about the prospects
their technology presents," said Marty Meyer, Director of
Operations at UEA. "We've been impacted by the decreased
availability of skilled labor in the U.S.; by using Bright Machines
to automate high precision but repetitive component assembly tasks,
our existing staff is now free to perform more advanced operations.
Bright Machines is helping us increase our capacity, while
simultaneously ensuring exceptional quality and consistent
throughput – all of which is paramount for us to stay competitive
in a global economy."
UEA is deploying Bright Machines Microfactories in autumn of
2021.
About Bright Machines
Headquartered in San Francisco, Bright Machines is an
industry-leading technology company that offers a revolutionary
approach to intelligent, software-defined manufacturing. It
leverages computer vision, machine learning, 3D simulation, and
adaptive robotics to fundamentally change the flexibility,
scalability, and economics of production. With more than 500
employees worldwide, they operate R&D centers in the U.S. and
Israel, with additional field operations in the U.S., Mexico,
China, and Poland. The company recently entered into a definitive
merger agreement with SCVX (NYSE: SCVX), a special purpose
acquisition company, with the intent of becoming a publicly listed
company in the second half of 2021.
Bright Machines is reimagining how products can be designed and
produced to address the realities of today and the future ahead.
Rethink everything you ever knew about manufacturing. Visit
www.brightmachines.com.
About United Equipment Accessories
United Equipment Accessories (UEA), based in Waverly, Iowa,
engineers and manufactures custom slip rings, hydraulic swivels,
cable reels, and shift controls. UEA’s products are used by
equipment manufacturers in a wide variety of industries across the
U.S. and the world. Learn more at www.uea-inc.com.
Additional Information and Where to Find It
In connection with the proposed business combination, SCVX
intends to file a Registration Statement on Form S-4, including a
preliminary proxy statement/prospectus and a definitive proxy
statement/prospectus with the SEC. SCVX’s stockholders and other
interested persons are advised to read, when available, the
preliminary proxy statement/prospectus and the amendments thereto
and the definitive proxy statement/prospectus and documents
incorporated by reference therein filed in connection with the
proposed business combination, as these materials will contain
important information about Bright Machines, SCVX, and the proposed
business combination. When available, the definitive proxy
statement/prospectus and other relevant materials for the proposed
business combination will be mailed to stockholders of SCVX as of a
record date to be established for voting on the proposed business
combination. Stockholders will also be able to obtain copies of the
preliminary proxy statement/prospectus, the definitive proxy
statement/prospectus, and other documents filed with the SEC that
will be incorporated by reference therein, without charge, once
available, at the SEC’s website at www.sec.gov, or by directing a
request to: c/o Strategic Cyber Ventures, 1220 L St. NW, Suite
100-397, Washington, DC 20005.
Participants in the Solicitation
SCVX and Bright Machines and their respective directors and
executive officers may be considered participants in the
solicitation of proxies with respect to the potential transaction
described in this press release under the rules of the SEC.
Information about the directors and executive officers of SCVX is
set forth in SCVX’s Annual Report on Form 10-K filed with the SEC
pursuant to Section 13 of the Securities Exchange Act of 1934, as
amended, on April 6, 2021, and is available free of charge at the
SEC’s web site at www.sec.gov, or by directing a request to: c/o
Strategic Cyber Ventures, 1220 L St. NW, Suite 100-397, Washington,
DC 20005. Information regarding the persons who may, under the
rules of the SEC, be deemed participants in the solicitation of the
SCVX shareholders in connection with the potential transaction will
be set forth in the registration statement containing the
preliminary proxy statement/prospectus when it is filed with the
SEC. These documents can be obtained free of charge from the
sources indicated above.
No Offer or Solicitation
This press release shall not constitute a solicitation of a
proxy, consent, or authorization with respect to any securities or
in respect of the proposed business combination. This press release
shall also not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of
securities in any states or jurisdictions in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, or an exemption therefrom.
Forward Looking Statements
Certain statements herein may be considered forward-looking
statements. Forward-looking statements generally relate to future
events or SCVX’s or Bright Machines’ future financial or operating
performance. For example, statements about the expected timing of
the completion of the proposed business combination, the benefits
of the proposed business combination, the competitive environment,
and the expected future performance and market opportunities of
Bright Machines are forward-looking statements. In some cases, you
can identify forward-looking statements by terminology such as
“may”, “should”, “expect”, “intend”, “will”, “estimate”,
“anticipate”, “believe”, “predict”, “potential” or “continue”, or
the negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties and other factors which could cause actual results to
differ materially from those expressed or implied by such forward
looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by SCVX and its
management, and Bright Machines and its management, as the case may
be, are inherently uncertain. Factors that may cause actual results
to differ materially from current expectations include, but are not
limited to: (1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement; (2) the outcome of any legal proceedings that may be
instituted against SCVX, Bright Machines, the combined company or
others following the announcement of the proposed business
combination; (3) the inability to complete the proposed business
combination due to the failure to obtain approval of the
shareholders of SCVX or to satisfy other conditions to closing; (4)
changes to the proposed structure of the proposed business
combination that may be required or appropriate as a result of
applicable laws or regulations or as a condition to obtaining
regulatory approval of the proposed business combination; (5) the
ability to meet stock exchange listing standards at or following
the consummation of the proposed business combination; (6) the risk
that the proposed business combination disrupts current plans and
operations of Bright Machines as a result of the announcement and
consummation of the proposed business combination; (7) the ability
to recognize the anticipated benefits of the proposed business
combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; (8) costs
related to the proposed business combination; (9) changes in
applicable laws or regulations; (10) the possibility that Bright
Machines or the combined company may be adversely affected by other
economic, business and/or competitive factors; and (11) other risks
and uncertainties set forth in the section entitled “Risk Factors”
and “Cautionary Note Regarding Forward-Looking Statements” in
SCVX’s Form 10-K for the year ended December 31, 2020, and which
will be set forth in the registration statement to be filed by SCVX
with the SEC in connection with the proposed business
combination.
Nothing herein should be regarded as a representation by any
person that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. Neither SCVX nor Bright Machines
undertakes any duty to update these forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210630005137/en/
Press inquiries: Justine Crosby PR@brightmachines.com
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