Mr. Yoav Bar-Joseph reports
CANNIBBLE FOOD-TECH LTD. ANNOUNCES ESTABLISHMENT OF ROBOTICS AND AI DIVISION AND PARTNERSHIP TO EXPLORE SERVICE ROBOTICS DEPLOYMENT
Cannibble Food-Tech Ltd. has established a robotics and artificial intelligence division for the food and hospitality industry, and has executed a partnership agreement with AIBotics Inc. (OTC: AIBT), a developer of AI-enhanced service robots and automation software.
The newly established division is intended to support Cannibble's evaluation and potential commercialization of AI-enabled robotic technologies for use in food service, hospitality and security applications. The initiative represents an expansion of the company's strategic review of automation technologies that may complement operational needs within service-oriented environments.
Under the partnership, Cannibble and AIBotics have agreed to collaborate in exploring the deployment of AI-powered service robots across food service, hospitality and security markets, initially in Israel and, subject to market conditions and the establishment of definitive agreements, in North America, Latin America and the Middle East. The parties intend, subject to the execution of definitive distribution agreements, to act as reciprocal exclusive distributors for each other's robotic products and services within defined territories. Cannibble has existing industry relationships and commercial contacts within Israel that may support these efforts.
Pursuant to the partnership, Cannibble's robotics and AI division is expected to support the distribution in Israel of certain service robots manufactured by
Keenon Robotics, in accordance with AIBotics' agreement with Keenon Robotics. The service robots contemplated under the arrangement include the following service robots designed for applications such as food delivery, hospitality support and cleaning services:
- DinerBot series (T8, T9, T10, T11);
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ButlerBot W3;
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KleenBot C30 and C40.
The company expects its robotics and AI division to focus initially on market assessment, customer engagement and pilot opportunities. There can be no assurance that the establishment of this new division or the partnership with AIBotics will result in commercial deployments, revenues or long-term arrangements.
The partnership agreement with AIBotics provides for an initial term of three years with automatic renewals, subject to its terms and conditions.
About Cannibble Food-Tech Ltd.
Cannibble is an innovative food-tech company that develops food and beverage products variously enhanced with alternative proteins. Cannibble has developed proprietary formulas for food and beverage products enhanced with alternative proteins targeted for the better-for-you segment.
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