The pursuit of achieving “authentic” dexterity in robotic hands has been a longstanding challenge for researchers in the field of robotics. While robot grippers and suction cups are capable of picking up and moving objects, more intricate tasks like assembly, reorientation, packaging, and insertion have traditionally required human intervention. Despite this hurdle, recent advancements in sensing technology and machine learning algorithms have sparked a rapid transformation within the field of robotic manipulation. Columbia Engineering researchers have exhibited a highly dexterous robot hand, which combines an advanced sense of touch with motor learning algorithms to reach a high level of dexterity. In addition to the increased dexterity, the hand worked without the use of any external cameras, making it immune to illumination, occlusion, and other difficulties. It can even operate in complete darkness. Meanwhile, Knightscope (NASDAQ:KSCP) has created mobile robots that are completely autonomous, using a system of LIDAR, GPS, sonar, IMUs, 4K cameras and high-fidelity audio to deter crime and minimize risks. Knightscope’s clients include publicly-traded companies ABM (NYSE:ABM), Pacific Gas and Electric Company (NYSE:PCG), PENN Entertainment, Inc. (NASDAQ:PENN), and Lowe’s (NYSE:LOW).
Knightscope (NASDAQ:KSCP), a major manufacturer of ASRs and blue light emergency communication systems, has continued to deploy cutting-edge security technology around the country in healthcare facilities, educational institutions, commercial buildings, municipal governments, and corporate campuses.
Knightscope has completed about 40 new sales and renewed eight ASR subscription contracts since the year’s beginning. Several new purchase orders have also been received by the company from its resellers.
On May 11, the company announced that the City of San Antonio has purchased and will be installing Knightscope’s K1 Blue Light Tower, an emergency communication system to help for visitors, hikers, joggers, bikers, sightseers, and park staff. The company also revealed that that AT&T Inc. (NYSE: T) will be hosting the Robot Roadshow on May 23-24 at the AT&T Discovery District. To date, Knightscope’s Robot Roadshow has made 82 landings in 25 states and Washington, D.C.
Two days earlier, Knightscope announced that for the seventh year in a row, a well-known media and entertainment company had renewed its contract to continue patrolling one of its North Hollywood locations.
This client, a Knightscope early adopter who desires to remain anonymous, first signed a contract in the hopes that an Autonomous Security Robot (ASR) would help deter criminal trespassing, criminal mischief, and theft that had occurred prior to the robot’s arrival. The client renewed their contract for another year of 24-hour/365 service after six years of unbroken service.
In addition, Texas State University awarded Knightscope a contract to service 103 emergency phone systems. Knightscope‘s acquisition of CASE Emergency Systems in late 2022 will result in further top-line revenue growth. Knightscope, like its ASR division, is primarily a service provider. Public safety personnel are highly respected and expect prompt, simple, personalized, and empathic treatment in order to help protect the places where people live, work, study, and visit.
Last month, Knightscope reduced its $5 million backlog of new orders by more than 12%. Several ASRs have been shipped to California, Florida, New York, Washington, and Washington DC in the last 30 days, totaling approximately $258,000 in annualized income. Shipments of blue light emergency communication systems, which earned around $417,000 in revenue, also contributed to the reduction of the backlog.
K5 robots will also be used as a test project by the New York Police Department (NYPD) to patrol a Manhattan subway station this summer.
Recent News From Some of Knightscope’s Clients
ABM (NYSE:ABM) is expanding its unique data-enabled smart parking solution, ABM Vantage, by introducing and expanding aviation-specific services. ABM is redefining the guest parking experience with this new option, which has not previously benefited from technology. Unlike other parking technologies in the ever-changing aviation market, ABM Vantage is the only solution that operates inside a single connected ecosystem, allowing it to exploit existing equipment while connecting with new platforms and infrastructure. ABM Vantage delivers an open-system accelerator and a comprehensive suite of professional services for the enhanced parking experience by linking and centralizing parking technology, including electric charging stations, valet, shuttle, curbside, and more. This improves the traveler’s experience while raising returns for the facility operators.
By 2025, Pacific Gas and Electric Company (NYSE:PCG) plans to have cut 20% of the emissions coming from its natural gas pipeline system. The California Public Utilities Commission (CPUC) verified in its 2023 report that PG&E exceeded its emission reduction goal two years ahead of schedule. PG&E submitted its annual emissions data to the CPUC in June 2022. Using 2015 emissions levels as a baseline, the data showed that PG&E has reduced emissions by more than 24% by mid-year 2022, with an additional 5% expected by the end of 2023.
PENN Entertainment, Inc. (NASDAQ:PENN) closed in February its previously announced acquisition of Barstool Sports, Inc. For around $388 million, PENN acquired the remaining shareholding in Barstool Sports. Barstool Sports, which is celebrating its 20th year, has reached a big milestone with the acquisition. Dave Portnoy founded Barstool in 2003 as a free sports and gambling newspaper, and it has since expanded into a significant digital player in sports, lifestyle, and entertainment. The organization, which has over 200 million passionate followers, generates and delivers unrivaled sports and humorous content through its huge network of over 100 shows and 90+ personalities. Its content offerings include podcasts, video, social media, live events, pay-per-view, and a burgeoning commerce sector, firmly establishing it as a multimedia powerhouse.
Pros and their businesses must constantly look for innovative methods to save time and money. According to Lowe’s (NYSE:LOW) proprietary research, 61% of Pros expect retailers to assist them shop fast so they can return to work. As a result, Lowe’s is releasing a suite of Pro-centric products today, expanding on the success of Lowe’s MVPs Pro Rewards and Partnership ProgramTM. Now that Lowe’s MVPs Business Tools are accessible on Lowes.com and the Lowe’s mobile application, Pros may quickly find time-saving solutions, spend less time on the jobsite, and conduct business from any location. By offering easy order placement and tracking, Lowe’s MVPs Business Tools help professionals streamline their restocking process.
Knightscope has continued to showcase its ASRs and blue light emergency communication systems at the Robot Roadshow, an exciting and attention-grabbing event meant to foster direct interactions with potential clients and stimulate discussions about the company’s unique technology. So far, the Robot Roadshow has visited 79 states. Jena Choctaw Pines Casino in Louisiana will be the next site on May 9-11.
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