EQS-News: Circus SE
/ Key word(s): Expansion
Circus Group signs preliminary agreement to roll out 5,400 units of its food production robot CA-1 across Beijing educational institutions
Hamburg / Beijing, June 12, 2024 – Circus SE (Xetra: CA1), a leading AI robotics company specialising in autonomous kitchen systems, has signed a Memorandum of Understanding (MoU) with the Beijing University Food Raw Material Joint Procurement Centre. This partnership aims to build and scale an autonomous food supply network using Circus Autonomy One (CA-1), a fully automated food production robot capable of ingredient dispensing, cooking, cleaning, and packaging without human intervention. CA-1 minimises production expenses and food wastage while upholding exceptional culinary and hygiene standards, all within a compact 20 square metres and without necessitating human involvement. The Circus Group is developing a global network of these robots to provide balanced, cost-effective nutrition worldwide. The Beijing University Food Raw Material Joint Procurement Centre, established in 2001, is a centralised platform for the procurement of raw materials for university canteens, guided by the Ministry of Education and industry committees. Its objective is to guarantee food quality and safety, thereby enhancing the quality of life for teachers and students. The centre serves over 90 universities and educational institutions in Beijing, providing millions of meals daily within a limited timeframe. To ensure the availability and constant accessibility of high-quality meals for every student, the parties aim to establish an autonomous food supply system, run by CA-1 food production robots, enabling the on-demand production of over ten million meals daily across Beijing's educational institutions. The collaboration between Circus and the Procurement Centre shall be carried out in multiple phases starting from the setup of joint test operations at first universities to prepare for the broader market launch of CA-1 food production robots. From the start of this initial phase, Circus will receive exclusive market access. The partnership aims to develop into a multi-staged integration of Circus’ robotics technology across 92 Beijing educational institutions with a total distribution of 5,400 CA-1 food production robots, reaching an estimated cumulative revenue potential in the low single-digit billion euro range over the next years. The planned network of robots will be capable of producing up to 4 billion meals annually. In an additional defined national growth phase, the Procurement Centre shall further support the Group in a nationwide rollout of the CA-1 food production robot, aimed at serving 4,000 educational institutions with a total of 60 million students. The MoU signed today in Beijing outlines the basic terms of future cooperation between the two parties. The MoU is not legally binding and serves to define the key points of the future contractual agreement until the detailed and legally binding contracts are drawn up. The Circus Group (XETRA: CA1) is the leading AI robotics company, specialising in the translation of the fine art of cooking into full autonomy. On its mission to fuel humanity, Circus provides global access to balanced nutrition, for everyone, anytime. The company developed the world’s first commercially viable food production robot, Circus Autonomy One. Circus employs talents in AI, robotics engineering and food service across four locations and is headquartered in Hamburg, Germany.
12.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Circus SE |
Hongkongstrasse 6 | |
20457 Hamburg | |
Germany | |
E-mail: | ir@circus-group.com |
Internet: | https://www.circus-group.com/investors |
ISIN: | DE000A2YN355 |
WKN: | A2YN35 |
Listed: | Regulated Unofficial Market in Frankfurt, Munich (m:access) |
EQS News ID: | 1923635 |
End of News | EQS News Service |
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1923635 12.06.2024 CET/CEST
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