The well-known robotic exoskeleton company EKSO BIONICS HOLDING (OTCBB:EKSO) announced that Boston Dynamics, a wholly owned subsidiary of Google Inc (NASDAQ:GOOGL) selected it for DARPA project. As per the reports, EKSO was selected to continually develop high-end technologies for the Warrior Web Task A project of Defense Advanced Research Projects Agency.
Insights On The Matter:
The Warrior Web Task A project of Boston Dynamics focuses on developing different technologies to reduce or prevent musculoskeletal injuries that are caused by taxing physical activity. It is very common, with any active warfighter. The subcontract given to EKSO by Google Inc (NASDAQ:GOOGL) allowed it to retain all the rights to its proprietary intellectual property. The selection of EKSO BIONICS HOLDING (OTCBB:EKSO) for this program is an extension of the collaboration, which was initiated by Boston Dynamics in 2013 upon selection of Ekso Bionics. The firm was chosen to support in this program, for which, GOOGL decided to award it a grant of $4.5 million in the form of non-dilutive funding.
The management of EKSO BIONICS HOLDING (OTCBB:EKSO) seemed extremely happy, with this announcement. Nathan Harding, CEO and Co-Founder of EKSO stated that it was a major achievement of his company. EKSO works hard towards enduring robotic exoskeletons and augmenting the strengths of humans, and this contract is a true validation of that. Harding further added that the technology used by his company could be adapted to fit in complex technologies to enhance the overall performance under crucial situations.
The company has already finished the initial testing for Warrior Web Task A project last week with six soldiers who went through 84 miles of hurdle filled terrain. They carried weapons, large loads and helmet with them. There was no news of any accident during the initial testing. As per the reports, this wearable, light-weight, assistive technology will help improve the future offerings of EKSO BIONICS HOLDING (OTCBB:EKSO) in industrial, medical, military and consumer markets.