Aiming to bring the Archimedes Drive transmission system to market, Linamar Corporation has entered into an exclusive global manufacturing agreement with the Netherlands based Innovative Mechatronic Systems (IMS).
As part of the agreement, Linamar commits to be the manufacturing source for the system once the design is proven and production requires to scale up. Alongside, Linamar also announced a minority equity investment in IMS as part of a Series A consortium which raised €3 million.
IMS' existing shareholders included ABB Technology Ventures and InnovationQuarter (IQ), a regional economic development agency for the greater Rotterdam - The Hague area in the Netherlands. This latest Series A investment brings Linamar and Finindus, a Belgium based early-stage and growth investment company, into the consortium.
The deal leverages Linamar's manufacturing expertise, infrastructure, design for manufacturing capabilities, and supply chain management expertise to allow for rapid commercialisation of the Archimedes Drive transmission. Further, the transaction will enable Linamar to participate in the rapidly growing startup as a shareholder and manufacturer.
Technology
The Archimedes Drive transmission offers a significant innovation in the industrial robotics and automation sector. The assembly module banks on the frictional contact instead of gear teeth to transmit torque, resulting in a more efficient and precise gearbox. With a more accurate, robust, efficient, and scalable product than competing technologies, IMS aims to create a revolution for the robotics industry.
Linda Hasenfratz, CEO, Linamar, said this strategic partnership is another significant step for the company into the opportunistic industrial robotics market, given the growing global trend of industrial automation and the ongoing demand for better, more accurate robotic systems. In addition, the offering from IMS is disrupting a technology that has not seen significant innovation or improvement in decades.
Jack Schorsch, CEO, IMS, said the company has brought together a consortium of investors and now a manufacturing partner in Linamar that will significantly contribute to successful commercialisation.'
Schorsch continues, 'With the addition of Linamar & their ability to manufacture high-quality, high-performance parts & getting access to the world-class metal experts at OCAS (Belgium Research Centre for the use of Steel) through Finindus, we have a competitive advantage that is hard to replicate.'
NB: Photo is representational.