Sarcos Technology and Robotics Corporation Moves into New Headquarters and Production Facility in Salt Lake City
SALT LAKE CITY, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Sarcos Technology and Robotics Corporation (“Sarcos”) (NASDAQ: STRC and STRCW), a leader in the development of robotic systems that augment humans to enhance productivity and safety, today announced that it has moved into a new headquarters and production facility in the Granary District of Salt Lake City. The move to the new innovative office, lab space, and production facility, comprising more than 60,000 square feet, comes as the company completes the commercialization of its award-winning industrial robotic exoskeleton and teleoperated industrial robotic avatar products.
Sarcos is expecting to increase its headcount by 60-70% over the course of 2022. It expects to start producing the commercial version of its Guardian® XO® full-body, battery-powered industrial exoskeleton and Guardian® XT™ teleoperated dexterous mobile robotic avatar system at the end of 2022. The new space, which nearly doubles the size of its previous headquarters, includes an extensive test lab and demonstration space for customer use case validation and trials. Sarcos estimates that it will be able to produce between 300 and 500 commercial units of its Guardian XO exoskeleton and Guardian XT robotic system per year at its new facility.
“We are thrilled to be in our new, state-of-the-art headquarters,” said Ben Wolff, Chairman and CEO, Sarcos. “With the significant company growth we are expecting over the next several years, we needed a building that could accommodate additional employees as well initial production of our flagship commercial products.”
The new Sarcos headquarters is located at 650 S 500 W. Suite 150, Salt Lake City, UT, 84101, within the INDUSTRY Salt Lake City building. INDUSTRY is a modern office space with two additional locations in Denver and houses a large variety of tenants in addition to Sarcos. The company has signed a 12-year lease with options to extend for up to six additional years. Barb Johnson and Kreg Peterson from CBRE represented Sarcos on the lease transaction.
For more information on Sarcos and its award-winning product portfolio, please visit www.sarcos.com.
About Sarcos Technology and Robotics Corporation
Readers should carefully review the statements set forth in the reports which Sarcos has filed or will file from time to time with the Securities and Exchange Commission (the “SEC”). In addition to factors previously disclosed in Sarcos’ reports filed with the SEC and those identified in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: Sarcos’ ability to execute on its business strategy, address staffing shortages and supply chain disruptions, launch its products within expected timelines, develop new products and services and enhance existing products and services; ability to respond rapidly to emerging technology trends; ability to compete effectively, recruit and retain qualified personnel and manage growth and costs; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents filed from time to time with the SEC. The documents filed by Sarcos with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9040a3a1-b066-45c8-b6ba-011ed13a019f
Investor Contact: Ben Mimmack Head of Investor Relations (801) 419-0438 [email protected] [email protected]
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