First Hydrogen Signs LOI to Acquire 60% of Exodus Actuation Solutions for Robotics Technology
First Hydrogen Corp. has entered a binding Letter of Intent (LOI) to acquire a 60% stake in Exodus Actuation Solutions, which holds 25 patents in robotics technology. The acquisition will involve issuing 2 million common shares and funding $2 million for technology advancement. This partnership aims to integrate advanced robotics and actuators into electric vehicles and renewable energy applications, enhancing automation and efficiency.
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First Hydrogen Corp. has signed a binding Letter of Intent (LOI) with Exodus Actuation Solutions Inc. to acquire a 60% interest in the company. The deal includes issuing 2 million common shares and funding $2 million for technology advancement, contingent on due diligence and TSX Venture Exchange approval.
Exodus Actuation holds 25 issued and 11 pending patents for robotics technologies, which enhance automation in clean energy and electric vehicles. These technologies enable robots to perform complex tasks, improving efficiency and safety in various applications, including renewable energy asset management.
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