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August 05, 2015 12:52 AM ET

Electronic Equipment, Instruments and Components

Company Overview of Rethink Robotics, Inc.

Company Overview

Rethink Robotics, Inc. develops and produces industrial robots that help businesses in manufacturing, automation, and outsourcing applications. The company was formerly known as Heartland Robotics, Inc. and changed its name to Rethink Robotics, Inc. in June 2012. Rethink Robotics, Inc. was founded in 2008 and is based in Boston, Massachusetts.

27-43 Wormwood Street

Boston, MA 02210

United States

Founded in 2008

Phone:

617-500-2487

Fax:

617-812-0448

Key Executives for Rethink Robotics, Inc.

Chief Executive Officer and President
Founder, Chairman of the Board and Chief Technology Officer
Age: 60
Co-Founder and Vice President of Administration & HR
Vice President of Manufacturing and Operations
Vice President of Product Development
Compensation as of Fiscal Year 2015.

Rethink Robotics, Inc. Key Developments

Standby Screw Machine Products Co. Leverages Rethink Robotics' Two-Armed Baxter Robot

Standby Screw Machine Products Co. announced that the company is leveraging Rethink Robotics' two-armed Baxter robot in two separate applications to increase flexibility and consistency in its manufacturing operations and better compete on a global stage. Standby Screw manufactures and delivers custom parts for outdoor power equipment and automotive industries. Because of the repetitive nature of many of the factory tasks, the company sought a solution that would lower costs and competitively price their products, but still maintain the flexibility to deal with new parts and production lines quickly and easily. Smart, flexible and able to perform in variable environments, Baxter is uniquely designed to meet the needs of manufacturers. In Standby Screw's Berea, Ohio factory, Baxter is a vital part of a high-volume robotic cell producing more than one million parts per year, cleaning and packaging worm shafts a long cylindrical gear used for self-propelled walk-behind lawnmowers. Baxter is fed parts from a traditional caged industrial robot, and, using both arms, moves the parts into a slot to clean the machine oil before placing the parts into two boxes. A second Baxter is tending to a milling machine, using two arms to pick up pivot rods designed for snow blowers out of a feeding unit and placing them into the machine to cut a flat end on the rod. Using both arms and handling multiple parts at the same time, Baxter is packaging the worm shafts into boxes directly on the factory floor, working overnight in some cases. The added production time and ability to package exactly 169 parts per box is directly contributing to Standby Screw's ability to maintain a competitive price for its products.

Trow & Holden Uses Rethink Robotics' Baxter Robot as a Workforce Multiplier

Rising demand at Trow & Holden has led the company to integrate Rethink Robotics' Baxter robot into its production lines to help increase production capacity and improve workforce flexibility. Using Baxter as a workforce multiplier, Trow & Holden is meeting the demands of a large customer base with specialized needs, while successfully competing against larger providers in the space. By adding Baxter to its production facility, Trow & Holden has been able to move employees into supervisory roles, driving efficiency that wasn't previously possible. The task Baxter is currently executing, which requires very precise timing and the ability to meet highly particular specifications, could not be affordably or practically automated prior to implementing collaborative solutions like Baxter.

Rethink Robotics Introduces Industry-First Robot Positioning System

Rethink Robotics announced the availability of its new Robot Positioning System, a groundbreaking technology that will allow the Baxter collaborative robot to manage and adapt to ever-changing, real-world environments. As part of Intera 3.1, Rethink Robotics' latest software upgrade, the Robot Positioning System helps users to more quickly and easily re-deploy the robot after common plant-floor variations occur, such as tables being bumped, fixtures being moved, and more. This disruptive technology enables Baxter to switch between tasks without retraining by using environmental markers, called Landmarks(TM), in conjunction with its existing, embedded vision system. The robot is now able to recognize the original locations of the markers, and, when those locations change slightly, can mark the new locations and adjust its movements accordingly. By accounting for and adapting to common variability on the plant floor, Rethink Robotics is making it easier for manufacturers to deploy Baxter across multiple applications. One of the first customers to utilize the new technology, Praxis Packaging Solutions meets the diverse packaging demands for a wide variety of customers on a 24x7 basis. One of the defining characteristics of the Praxis production lines is rapid reconfiguration. Baxter provides flexible automated labor to meet those demands. Rethink Robotics' latest software release, Intera 3.1 strategically leverages multiple advantages of the Baxter robot, including smart software, multiple sensors and embedded vision. Through software upgrades, the company can deliver continuous innovation quickly and frequently, adding ever-increasing value to the inexpensive robot and further representing a game-changing approach to automation in manufacturing. The more a robot can do on its own, the less users have to do when redeploying it on a new task. And as the software advances, Baxter's capabilities will continue to expand, again applying the power of software to enhance performance and ability.

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