Richtech Robotics Expands Agreement with Ghost Kitchens to Manage 20 Additional Walmart-Located Restaurants, Growing its Restaurant Operations Model
Richtech Robotics Inc. (RR)
Company Research
Source: GlobeNewswire
Company’s subsidiary, AlphaMax Management LLC, will optimize operations through the use of robotics and AI cloud technology at restaurants across Arizona, Colorado, and Texas LAS VEGAS, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a Nevada-based provider of AI-driven service robots, today announces that it is expanding its restaurant operations model with the signing of a binding Letter of Intent (LOI) with Ghost Kitchens America. Under the terms of the LOI, Richtech Robotics agreed to enter into a franchise agreement with Ghost Kitchens America, pursuant to which the Company will acquire exclusive rights to operate 20 Walmart-located restaurants in Arizona, Colorado, and Texas. These restaurants will be directly managed by Richtech Robotics’ subsidiary, AlphaMax Management LLC, with the aim of optimizing restaurant operations through robotics and AI cloud technology. Each location is expected to generate between $7
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News
- Richtech Robotics to Showcase Latest Service Robotics Innovations at CES 2025, Featuring AI-Driven Scorpion Robot and New Delivery RobotsGlobeNewswire
- Richtech Robotics to Present at the LD Micro Main Event XVIIGlobeNewswire
- Robot-run restaurants are coming to Walmart [Yahoo! Finance]Yahoo! Finance
- Richtech Robotics to open 20 more automated restaurants in Walmarts [Yahoo! Finance]Yahoo! Finance
- Richtech Robotics expands agreement to manage 20 additional Walmart-located restaurants [Seeking Alpha]Seeking Alpha
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Sec Filings
- 11/7/24 - Form S-8
- 10/31/24 - Form 8-K
- 10/31/24 - Form 4
- RR's page on the SEC website