RR Richtech Robotics Inc

Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a Nevada-based provider of AI-driven service robots, today launches Scorpion, its AI-powered, single-arm beverage service robot. Providing customized drink recommendations based on preferences and mood, Scorpion leverages NVIDIA AI technologies to support its cocktail and wine tasting programs.

Additionally, Richtech Robotics signed a distributor agreement with Park 34 Liquor Store Inc., under which the distributor has agreed to sell a minimum of 500 Scorpion units over five years, followed by a minimum of 500 units per year annually. Scorpion will make its debut on September 26th at Park 34 Liquor Store Inc.’s 1936 Wine and Spirits store in New York, NY, where it will offer a variety of wine and liquor tastings for customers.

Scorpion is designed with the ability to engage with customers, and its interactive personality and entertaining presence provide an unforgettable, novel experience. It is developed to provide consistent beverage quality and service and to be adaptable to many environments. Created to offer advanced service and a viral experience, the robot is expected to save costs and generate revenue for companies. As an end-to-end solutions provider, Richtech Robotics will work closely with clients to implement Scorpion into their businesses, from conception to installation and ongoing support and service.

“We are focused on providing solutions that streamline operations, increase efficiency, and create cash flow for our clients. With that focus, we are proud to unveil Scorpion, sleek in design, agile in its offerings, and eye-catching for customers,” said Matt Casella, Richtech Robotics President. “By incorporating NVIDIA technologies with our own capabilities, we are helping elevate the industry to a new standard of precision and service.”

NVIDIA accelerated computing and AI technologies have been integrated into Scorpion to further enhance the robot. Using the NVIDIA Jetson Orin platform and NVIDIA DeepStream software development kit, Scorpion delivers advanced body movement detection with over 95% accuracy. Additionally, it uses NVIDIA Isaac ROS accelerated libraries and virtual cameras for accurate obstacle avoidance and object recognition, optimizing path planning for safe and efficient operation in complex environments. Scorpion tests and validates the entire software stack in the NVIDIA Isaac Sim reference application for physically-based simulation.

“We are excited to partner with Richtech Robotics and introduce Scorpion to our clientele. The combination of AI-powered customization and efficient service that Scorpion offers will bring a new level of innovation to the beverage industry,” said Damian Phillip, Vice President of Park34 Liquor Store Inc. “We believe this partnership will not only further augment customer experiences but also provide a competitive edge to businesses looking to modernize their operations.”

Being a single-arm solution, Scorpion is lower in cost and has a smaller footprint than Richtech Robotics’ ADAM humanoid robot. It also features a screen that allows clients to customize and display digital content.

More information about the Scorpion can be found at www.richtechrobotics.com/scorpion.

About Richtech Robotics

Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at www.RichtechRobotics.com and connect with us on X (Twitter), LinkedIn, and YouTube.

About Park34 Liquor Store

Park34 Liquor Store Inc. proudly owns 1936 Wine & Spirits, a wine cellar established in 1936. Located in the heart of New York, 1936 Wine & Spirits is a large luxury wine cellar and tasting venue in Manhattan. With a rich heritage and dedication to exceptional quality, the wine cellar offers an extensive collection of premium wine and spirit selections. Each month, the cellar hosts exclusive tasting events, showcasing a diverse array of wine and spirits from around the world for connoisseurs and enthusiasts alike.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the anticipated success and benefits of the partnership with Park34 Liquor Store Inc., the expected performance of Scorpion, and the potential utility of and market for Richtech Robotics’ products and services.

These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to market and other conditions, Richtech Robotics’ ability to deliver the requisite number of Scorpion units under the distributor agreement, Park34 Liquor Store Inc.’s ability to sell the requisite number of Scorpion units under the distributor agreement, and Scorpion’s continued performance. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A, filed with the SEC on March 27, 2024, and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Investors:CORE IRMatt Blazeiir@richtechrobotics.com

Media: Timothy TanksleyDirector of MarketingRichtech Robotics, Incpress@richtechrobotics.com702-534-0050

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