RICHMOND, Calif., Oct. 2, 2014 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (OTCQB:EKSO), a robotic exoskeleton company, announced today that it was selected by Boston Dynamics, now part of Google, to continue developing technologies for Defense Advanced Research Projects Agency's (DARPA's) Warrior Web Task A project. Ekso received a subcontract from Google for the project, in which Ekso Bionics will retain rights to its proprietary intellectual property. This extends the collaboration previously created from the selection of Ekso Bionics by Boston Dynamics in support of this important program in 2013 and brings the total amount of the grants awarded in the last twelve months to Ekso Labs™, the engineering services division of Ekso Bionics, to $4.5 million of non-dilutive funding.
"We are proud of this contract, as it represents continued validation of our pioneering technology and know-how in augmenting human strength and endurance with robotic exoskeletons", said Nathan Harding, Co-Founder and CEO of Ekso Bionics. "It is rewarding to see how our unique technology can be adapted to fit seamlessly within a broader matrix of complex technologies and to maximize performance under demanding circumstances, similar to what a ground soldier might face."
Testing for the Warrior Web Task A project culminated last week with six soldiers marching through 84 miles of obstacle filled terrain, carrying large loads, weapon and helmet. There were no incidences of failure reported. This lightweight, wearable, low power, assistive technology will help advance the capabilities of current and future Ekso Bionics product offerings in medical, industrial, consumer and military markets.
The Warrior Web program is aimed at developing technologies to prevent or reduce musculoskeletal injuries caused by taxing physical activity, which is typical with an active warfighter. The program's goal is to develop a lightweight, conformal under-suit that is transparent to the user (like a diver's wetsuit). It further seeks to develop a mix of core technologies critical to the realization of a Warrior Web capability. This effort examines five key Technology Areas: core injury mitigation technologies, comprehensive analytical representations, regenerative actuation, adaptive sensing and control, and suit human-to-wearer interface.
About Ekso Bionics
Since 2005, Ekso Bionics has been pioneering the field of robotic exoskeletons, or wearable robots, to augment human strength, endurance and mobility. The company's first commercially available product called Ekso has helped thousands of people living with paralysis take millions of steps not otherwise possible. By designing and creating some of the most forward-thinking and innovative solutions for people looking to augment human capabilities, Ekso Bionics is helping people rethink current physical limitations and achieve the remarkable.
Ekso Bionics is headquartered in Richmond, CA and is listed on the OTC QB under the symbol EKSO. To learn more about Ekso Bionics please visit us at www.eksobionics.com
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the Plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of human exoskeletons, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the significant length of time and resources associated with the development of our products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, volatility in the price of the Company's raw materials, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC at http://www.sec.gov. The Company does not undertake to update these forward-looking statements.
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