Mitsubishi Electric Announces Strategic Investment in OTTO Motors to Accelerate Industrial Automation

Kitchener, ON — May 12, 2023 — Mitsubishi Electric Corporation (TOKYO: 6503), a global leader in factory automation solutions, today announced a strategic investment in Clearpath Robotics, the parent company of autonomous mobile robot leader, OTTO Motors.

With more than 4 million hours of production experience, OTTO Motors’ pioneering autonomous mobile robot (AMR) technology and award-winning software are used by Fortune 500 companies to deliver productivity and safety in material handling operations. The investment expands the strategic relationship between OTTO Motors and Mitsubishi Electric, and strengthens the two companies’ commercial collaboration.

“Industrial automation is continuing to transform businesses around the world. As a globally-trusted leader with a strong mission to invest in continuous technological innovation and ceaseless creativity, Mitsubishi Electric has been an important partner for OTTO Motors. We are proud to have their continued support and share a vision to accelerate industrial automation globally. We look forward to pursuing the tremendous opportunity ahead,” said OTTO Motors' CEO & Co-Founder, Matt Rendall.

"The relationship between Mitsubishi Electric and OTTO Motors is built upon years of respect and trust. OTTO Motors is well positioned to become a leader in industrial autonomy. We see a bright future ahead for OTTO Motors and are honored to support their continued success,” said Mitsubishi Electric’s Chief Strategy Officer, Satoshi Takeda.

For more information on OTTO Motors, visit www.ottomotors.com

About OTTO Motors

OTTO Motors is the industrial division of Clearpath Robotics Inc.

OTTO Motors provides autonomous mobile robots for material handling inside manufacturing facilities and warehouses. With over four million hours of driving experience, OTTO is trusted for mission-critical deliveries in the most demanding of industrial environments. Seventy percent of OTTO’s customers are Fortune 500 companies and include some of the world’s most recognized brands, including GE and Toyota. OTTO Motors is an award-winning company with recent awards, including Fast Company’s 2023 Most Innovative Companies, Business Insider Top 40 under 40 and The Vector AI20 Top AI Companies to Watch in 2023. Visit ottomotors.com for more information.

About Mitsubishi Electric

Mitsubishi Electric is one of the world's leading names in the manufacture, marketing and sales of electrical and electronic products and systems used in a broad range of fields and applications. Visit Mitsubishi Electric at mitsubishielectric.com/en/index.html

Press Contact:

Jess Blenkarn
Marketing Communications
press@ottomotors.com
www.ottomotors.com