Investing in Harsh Environment Solutions for Oil & Gas Exploration

We are heading into a multi-year “up cycle” for oil and gas after the longest period of underinvestment in the history of the industry. Instead of putting money back into equipment, stakeholders have wanted to see quicker returns on their investments. Those business objectives coincided with political and social forces moving toward “green” technology, electrification and higher fuel efficiency standards.

Source: Investing in Harsh Environment Solutions for Oil & Gas Exploration | TTI, Inc.

Advent Technologies announces $821M fuel cell project in Greece

Cambridge-based Advent Technologies on Thursday announced that Greek officials have approved funding for what is the equivalent of an $821 million project to develop fuel cells and electrolyzers in the Western Macedonia region over six years.

Source: Advent Technologies announces $821M fuel cell project in Greece – Boston Business Journal

Desktop Metal to lay off 12% of global workforce

Desktop Metal Inc., a Burlington-based 3D printing company that went public through a reverse merger in 2020, is laying off 12% of its global workforce, citing the integration of businesses acquired last year.

Source: Desktop Metal to lay off 12% of global workforce – Boston Business Journal

GE to split into three companies by 2024 

General Electric announced Tuesday morning that it plans to split into three publicly traded companies over the next three years.

Source: GE to split into three companies by 2024 – Boston Business Journal

Amazon opens robotics facility opens in Westborough 

Amazon.com Inc., one of the state’s largest employers, is expanding again in Massachusetts.The Seattle tech giant (Nasdaq: AMZN) unveiled its new robotics manufacturing facility in Westborough at an in-person ribbon cutting ceremony on Thursday.

Source: Amazon Massachusetts: New robotics facility opens in Westborough – Boston Business Journal

Sweetgreen acquiring MIT-born robotic restaurant Spyce 

The robots are coming to Sweetgreen.Popular Los Angeles salad chain Sweetgreen has acquired Boston-based Spyce, a robotic kitchen founded by four MIT grads in 2015.At Spyce’s Washington Street location in downtown Boston, robots assemble bowls filled with various vegetables, grains and sauces. The fast-casual spot closed its doors amid the pandemic, but reopened in November, launching an electric moped delivery service.

Source: Sweetgreen acquiring MIT-born robotic restaurant Spyce – Boston Business Journal

Desktop Metal to acquire ExOne for $575M

Desktop Metal Inc. is acquiring another publicly traded 3D printing company in a deal valued at $575 million.The Burlington-based company (NYSE: DM) said on Wednesday it plans to acquire North Huntingdon, Pa.-based The ExOne Co. (Nasdaq: XONE) for a combination of cash and stock worth $575 million. The deal is expected to close in the fourth quarter of this year.

Source: Burlington’s Desktop Metal to acquire ExOne for $575M – Boston Business Journal

Raytheon nabs $318M contract for deploying airport screening equipment 

Raytheon Intelligence & Space, a Raytheon Technologies (RTX +0.4%) business, plans to expand the deployment of checked baggage screening equipment to all federally managed airports nationwide under a five-year, $318M contract with the Transportation Security Administration.

Source: (NYSE:RTX) | Seeking Alpha

Boston Dynamics unveils a new robot designed to move boxes in warehouses 

Boston Dynamics is best known for its robot dog Spot, a machine designed to work in a range of environments, from offshore oil rigs to deep underground mines. But in recent years, the company has increasingly focused attention on the logistics space, and today is unveiling a new robot with just one application in mind: moving boxes in warehouses.

Source: Boston Dynamics unveils Stretch: a new robot designed to move boxes in warehouses – The Verge

Hyundai Closes Deal on Robot Maker Boston Dynamics

Last week, Massachusetts-based robot maker Boston Dynamics announced that it was becoming part of the South Korean Hyundai family, subject to all the usual regulatory requirements and formal approval inherent in international acquisitions. The huge $1.1 billion deal will see Hyundai Motor Group take an 80% stake in the company, with SoftBank controlling the leftover 20%. It’s the latest in a series of notable sales by the Japanese multinational conglomerate holding company SoftBank. In September, SoftBank made the news when it announced the sale of Arm Holdings to NVIDIA for $40 billion.

Source: In Yet Another Acquisition for Boston Dynamics, Hyundai Closes Deal on Robot Maker – News

SoftBank Is in Talks to Sell Robot Maker Boston Dynamics to Hyundai

SoftBank Group Corp. is in talks to sell robot maker Boston Dynamics Inc. to Hyundai Motor Co., people familiar with the matter said.Proposed terms of the deal would give the South Korean automaker control of the robotics company in a transaction valued at as much as $1 billion, said one of the people, all of whom asked not to be identified because the discussions are private. The terms have yet to be finalized, and the deal could fall apart, said the people.

Source: SoftBank Is in Talks to Sell Robot Maker Boston Dynamics to Hyundai

Berkshire Grey raises $263 million for industrial robots 

Industrial robots and warehouse automation are lucrative intermingling markets, as evidenced by Berkshire Grey. The Lexington, Massachusetts-based company, which combines AI and robotics to automate omnichannel fulfillment for retailers, ecommerce, and logistics enterprises, today announced that it has secured a mammoth $263 million in series B funding led by SoftBank. Khosla Ventures, New Enterprise Associates, and Canaan participated in the round. CEO Tom Wagner says the fresh capital will fuel the startup’s global expansion, acquisitions, and team growth.

Source: Berkshire Grey raises $263 million for industrial robots | VentureBeat