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Genesis Robotics receives controlling investment from Koch

By TechTaffy Desk

Genesis Robotics, a subsidiary of Genesis Advanced Technology (GAT), has received a controlling investment from Koch Industries.

Under the companies’ agreement, they will form a new company — Genesis Robotics and Motion Technologies (Genesis Robotics) — to commercialize electric motor and actuation technologies for robotics designs and platforms.

Rothschild served as financial advisor and Sullivan & Cromwell acted as legal counsel to Genesis Advanced Technology. Jones Day acted as legal counsel to KCTG.

Genesis Advanced Technology, based in Langley, British Columbia, Canada, was founded in 2009 by Michael Gibney and James Klassen.

[Image courtesy: Genesis Robotics]

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