RR Richtech Robotics Inc

Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a Nevada company and a provider of AI-driven service robots, proudly announces the installation of its advanced robotic beverage system, ADAM, at Ghost Kitchens International Inc. (“Ghost Kitchens”) in Dawsonville, GA. This milestone marks the beginning of a partnership aimed at revolutionizing the food and beverage industry through robotic solutions that automate business operations and provide a unique customer experience.

Located inside a Walmart, the Dawsonville Ghost Kitchens is the first of 240 planned locations to integrate ADAM into its operations. ADAM, equipped with cutting-edge AI technology, commenced operation on June 13th, 2024, serving a variety of traditional and specialty coffee drinks to customers at the Dawsonville Ghost Kitchens, including the crowd-favorite Iced Foamy Hazelnut Latte. With this installation, Richtech Robotics hopes to demonstrate Adam’s ability to deliver consistent, high-quality beverages while enhancing operational efficiency and customer satisfaction. Richtech Robotics is proud to be among the few companies pioneering the integration of AI and robotics into everyday business operations.

"ADAM's introduction to the beverage industry addresses several key challenges, including the need for consistency, efficiency, and a memorable customer experience," said Matt Casella, President of Richtech Robotics. "By automating drink preparation, ADAM is intended to allow human staff to focus on creating meaningful connections with guests, thereby elevating the overall customer experience."

The staff at the Dawsonville location has reported positive feedback on ADAM from customers, which underscores ADAM's potential to transform the service industry. As part of a broader planned rollout, Richtech Robotics and Ghost Kitchens recently signed a non-binding Letter of Intent (“LOI”) to deploy ADAM across 240 Ghost Kitchens locations. This partnership aims to enhance behind-the-register efficiency and increase customer engagement at these highly popular retailer locations.

"The engagement with Ghost Kitchens provides important momentum as we continue to execute on our business plan and provide value for stockholders," added Mr. Casella. "We expect ADAM to significantly improve operational capabilities at Ghost Kitchens' Walmart locations."

George Kottas, CEO of Ghost Kitchens International, expressed enthusiasm for the collaboration, stating, "This is a momentous opportunity to work with an emerging leader in robotics. We anticipate this union will improve the customer experience, driving further awareness and success on both sides."

Under the terms of the LOI, Richtech Robotics will handle the programming, maintenance, and repair of the ADAM systems, while Ghost Kitchens will manage staff, location logistics, and leasing. ADAM will operate through a fully integrated touchscreen point-of-sale system for ordering and payments, offering customized beverages on demand and engaging customers with its intelligent conversation AI.

Richtech Robotics remains committed to its mission of transforming the service industry through collaborative robotic solutions that enhance customer experiences and empower businesses to achieve more. The installation at Ghost Kitchens in Dawsonville is a testament to this commitment and sets the stage for future advancements in the industry.

About Richtech Robotics

Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at www.RichtechRobotics.com and connect with us on X (Twitter), LinkedIn, and YouTube.

About Ghost Kitchens

With restaurants across Canada and the US, Ghost Kitchens is poised to expand to open over 240 more in 2024 in the US, and pilot kitchens in Europe, Asia, and India. Each restaurant features multiple national brands made to order, a single operator, innovative front and back of house technology, and walk-in and delivery customers. For more information go to www.ghostkitchenbrands.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to ADAM’s ability to deliver consistent, high-quality beverages while enhancing operational efficiency and customer satisfaction, the number of Ghost Kitchen locations that will ultimately install and integrate ADAM, the parties’ ability to negotiate and execute a definitive agreement in connection with the LOI; the parties’ ability to implement the definitive agreement, and risks related to the parties’ ability to realize the benefits of described herein. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A, filed with the Securities and Exchange Commission (the “SEC”) on March 27, 2024 and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotic to predict those events or how they may affect Richtech Robotic. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Investors:CORE IRMatt Blazeiir@richtechrobotics.com

Media: Timothy TanksleyDirector of MarketingRichtech Robotics, Incpress@richtechrobotics.com 702-534-0050

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