The Robot Report

  • Research
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • Grippers / End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors / Sensing Systems
    • Soft Robotics
    • Software / Simulation
  • Development
    • A.I. / Cognition
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Defense / Security
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
  • Investments
  • Resources
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50
    • Search Robotics Database
    • Videos
    • Webinars
  • Events
    • RoboBusiness Direct
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
  • Podcast

Genesis Robotics enters into strategic venture with Koch Industries

By Lisa Eitel | April 12, 2018

Koch Chemical Technology Group (KCTG) has made a strategic and controlling investment in Genesis Advanced Technology. Financial terms of the deal were not disclosed.

KCTG is the industrial-technology and engineered-equipment unit of Koch Industries. Under the agreement, a new company called Genesis Robotics and Motion Technologies (Genesis Robotics) will commercialize electric motor and actuation technologies, including the LiveDrive actuator, and advance robotics designs and platforms.

“We are excited to partner with Koch to commercialize LiveDrive and our other pioneering technologies,” said Michael Gibney, president of Genesis Advanced Technologies. “The investment will let us 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 the technologies into their offerings.”

“Our significant investment in Genesis Robotics lets Koch partner with a team developing disruptive technologies in the rapidly growing robotics market,” said KCTG president and chief operating officer Bob DiFulgentiz. “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. Koch Chemical Technology Group and its subsidiaries design, manufacture, install and service process and pollution control equipment for industries and municipalities worldwide.

Based in Wichita, Kansas, Koch Industries Inc. is one of the largest private companies in America with estimated annual revenues to $100 billion. It owns a group of companies involved in refining, chemicals, and biofuels; forest and consumer products; fertilizers; polymers and fibers; process and pollution control equipment and technologies; electronics; information systems; commodity trading; minerals; energy; glass; ranching; and investments. Genesis Advanced Technology (based in British Columbia, Canada) was founded in 2009 by Michael Gibney and James Klassen.

You may also like:


  • Robots could soon use new form of actuator: Genesis Robotics…

  • LiveDrive direct-drive actuator from Genesis Robotics: Rivals harmonic gears for…

  • 2016 funding and acquisitions updates

  • 2016 best year ever for funding robotics startup companies

About The Author

Lisa Eitel

Lisa Eitel has a B.S. in Mechanical Engineering and 17 years of experience as a technical writer. Her areas of focus include motors, drives, motion control, power transmission, robotics, linear motion, and sensing and feedback technologies.

Comments

  1. Richard W Bulmer says

    October 15, 2020 at 9:00 am

    What is your stock symbol?

    Reply

Tell Us What You Think! Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles Read More >

Rapid Robotics raises seed funding for robotic machine operator to avoid offshoring
Rapid Robotics raises seed funding for robotic machine operator to avoid offshoring
Robotics investments recap: July 2020
Robotics investments recap: July 2020
igus makes robot control software freely available
igus makes robot control and simulation software freely available
Ripcord uses robotics to digitize records, which could aid recycling
Ripcord uses robotics to digitize records, processes and avoid paper waste

Robotics Year in Review

The Robot Report Listing Database

Latest Robotics News

Robot Report Podcast

Teradyne’s acquisition strategy & the future of cobot

The Robot Report Podcast · Teradyne's acquisition strategy & the future of cobots

Sponsored Content

  • Doosan Robotics: Driving Innovation and Growth in Cobots
  • FORT Robotics Podcast: FORT Robotics on how to keep humans safe and in control of robots
  • Pallet Detection Systems Help Automated Forklifts Modernize Warehouse Operations
  • IES Servo Control Gripper
  • How to cut the cost of manufacturing

Tweets by RoboticTips

The Robot Report
  • Collaborative Robotics Trends
  • Field Robotics Forum
  • Healthcare Robotics Engineering Forum
  • RoboBusiness Event
  • Robotics Business Review
  • Robotics Summit & Expo
  • About The Robot Report
  • Subscribe
  • Advertising
  • Contact Us

Copyright © 2021 WTWH Media, LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media. Site Map | Privacy Policy | RSS

Search The Robot Report

  • Research
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • Grippers / End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors / Sensing Systems
    • Soft Robotics
    • Software / Simulation
  • Development
    • A.I. / Cognition
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Defense / Security
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
  • Investments
  • Resources
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50
    • Search Robotics Database
    • Videos
    • Webinars
  • Events
    • RoboBusiness Direct
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
  • Podcast