Quantum International Advances JV Talks with Industrial Research Institute for Automation and Measurement

Quantum International, an robotics innovation company focusing on the commercialization of advanced automated technology, has reported the completion of due diligence and is progressing towards a potential joint venture with Warsaw-based Industrial Research Institute for Automation and Measurement (PIAP), one of the key robotics laboratories in Europe.

Quantum International has started discussions with PIAP to establish a joint venture and help in the advancement and commercialization of the institute’s one or more state-of-the-art robotics projects. At present, PIAP is involved in the development of a range of sophisticated robotic systems, from intervention robots to unmanned crisis response and automated medical devices.

Quantum International expects that collaboration with PIAP will play a crucial role in generating potential revenues in the growing robotics industry. North American companies purchased 5,556 robots valued at $403.1 million in Q2 of 2012, a 14% increase in units and 28% increase in dollars when compared to the same period in 2011.

The Chief Executive Officer at Quantum International, Robert Federowicz stated that the company’s due diligence has corroborated that PIAP is a suitable partner for the company to move forward, and expects inking a definitive agreement with PIAP shortly. The company is specifically showing interest to commercialize robots featuring smartphone and tablet integration. Nevertheless, PIAP is working on a variety of innovations that draws the attention of the company, which anticipates specifying plans for these technologies once the terms are finalized with the institute.

Source: http://www.quantuminnovators.com

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