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SINGAPORE, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Primech AI Pte. Ltd., a subsidiary of Primech Holdings Limited (Nasdaq: PMEC), unveiled its strategic expansion plans for HYTRON, its AI-powered public toilet cleaning robot. As the global cleaning market is projected to reach approximately $74 billion by 2025, Primech AI is poised to capture a significant market share with its innovative solutions.
"Our vision at Primech AI is to revolutionize how we think about and manage cleaning in public spaces globally," said Charles Ng, Vice President of Innovation and Technology at Primech Holdings and Co-Founder COO of Primech AI. "With the launch of HYTRON, we are introducing a pioneering product that will transform the cleaning industry. Our robot combines advanced AI with practical cleaning applications to deliver superior efficiency and real value to our customers and stakeholders. This is a major step towards our goal of enhancing cleanliness, reducing environmental impact, and setting new standards in the industry worldwide."
Phase 1: Initial Launch in 2025
Following a successful R&D phase and encouraging feedback from operational trials with public and private clients, Primech AI is ready to scale its operations. Primech AI will launch HYTRON in the vibrant cleaning markets of Singapore, Hong Kong, and Dubai in 2025. Targeting the deployment of 300 robots across these regions, Primech AI’s technology is set to boost efficiency, reduce operational costs, and achieve unparalleled cleanliness in various commercial spaces.
Phase 2: Expansion to Australia in 2026
In 2026, Primech AI plans to extend its reach to Australia, aiming to produce and deploy 1,000 robots. This expansion addresses Australia's increasing demand for smart cleaning solutions, reinforcing Primech AI’s dedication to innovation and customer satisfaction.
Phase 3: Scaling Up for Global Reach in 2027
In 2027, Primech AI intends to significantly increase its production to 1,200 robots, targeting the US and European markets. This initiative will cater to the growing global need for efficient and sustainable cleaning technologies, aligning with Primech AI’s vision to make high-quality robotics accessible worldwide.
Commitment to Innovation and Sustainability
Primech AI is committed to advancing cleaning technology and promoting environmental sustainability. HYTRON robots are designed with energy efficiency and sustainable materials, ensuring minimal environmental impact while maximizing cleaning efficacy.
Conclusion
As Primech AI embarks on this ambitious journey, the company invites partners and stakeholders to join in revolutionizing the cleaning industry. With its innovative cleaning robots, Primech AI is set to redefine cleanliness and efficiency standards across global markets, establishing new benchmarks in the sector.
About Primech Holdings Limited
Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore, with expanding operations in Malaysia. With a legacy of excellence and innovation in the facility services industry, Primech’s operating subsidiary, Primech A & P offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Additionally, CSG Industries Pte Ltd, a subsidiary of Primech Holdings, manufactures and supplies various high-quality cleaning products under its brand, extending its reach and capabilities within the industry. Known for its commitment to sustainability and cutting-edge technology, Primech integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.
About Primech AI
Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
Company Contact:
Email: ir@primech.com.sg
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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