Circus SE / DE000A2YN355

Circus Group signs preliminary agreement to roll out 5,400 units of its food production robot CA-1 across Beijing educational institutions

Circus SE / Key word(s): Expansion


12.06.2024 / 11:50 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  The Group enters into an exclusive multi-stage agreement with the Beijing University Food Raw Material Joint Procurement Centre in China. The parties aim to roll out a network of 5,400 food production robots, reaching an estimated cumulative revenue potential in the low single-digit billion euro range over the next years. The future network of food production robots will be equipped to produce nearly 4 billion fresh meals annually across 92 Beijing institutions.   Hamburg / Beijing, June 12, 2024 – Circus SE (Xetra: CA1), a leading AI robotics company specialising in autonomous kitchen systems, has signed a Memorandum of Understanding (MoU) with the Beijing University Food Raw Material Joint Procurement Centre. This partnership aims to build and scale an autonomous food supply network using Circus Autonomy One (CA-1), a fully automated food production robot capable of ingredient dispensing, cooking, cleaning, and packaging without human intervention. CA-1 minimises production expenses and food wastage while upholding exceptional culinary and hygiene standards, all within a compact 20 square metres and without necessitating human involvement. The Circus Group is developing a global network of these robots to provide balanced, cost-effective nutrition worldwide. The Beijing University Food Raw Material Joint Procurement Centre, established in 2001, is a centralised platform for the procurement of raw materials for university canteens, guided by the Ministry of Education and industry committees. Its objective is to guarantee food quality and safety, thereby enhancing the quality of life for teachers and students. The centre serves over 90 universities and educational institutions in Beijing, providing millions of meals daily within a limited timeframe. To ensure the availability and constant accessibility of high-quality meals for every student, the parties aim to establish an autonomous food supply system, run by CA-1 food production robots, enabling the on-demand production of over ten million meals daily across Beijing's educational institutions. The collaboration between Circus and the Procurement Centre shall be carried out in multiple phases starting from the setup of joint test operations at first universities to prepare for the broader market launch of CA-1 food production robots. From the start of this initial phase, Circus will receive exclusive market access. The partnership aims to develop into a multi-staged integration of Circus’ robotics technology across 92 Beijing educational institutions with a total distribution of 5,400 CA-1 food production robots, reaching an estimated cumulative revenue potential in the low single-digit billion euro range over the next years. The planned network of robots will be capable of producing up to 4 billion meals annually. In an additional defined national growth phase, the Procurement Centre shall further support the Group in a nationwide rollout of the CA-1 food production robot, aimed at serving 4,000 educational institutions with a total of 60 million students.

Nikolas Bullwinkel, CEO and Founder of Circus Group, stated, “The signing of this MoU represents a significant milestone for Circus and the future of food service autonomy globally. We are honoured about the opportunity to serve Beijing's students across educational institutions and faculties with our food service technology and offer a range of balanced meals to millions of bright minds while enhancing food safety and efficiency in university canteens with the implementation of this partnership. This agreement marks our entry into the Chinese market and underscores the immense potential of our technology to transform food service around the world.”

Liu Zhigang, Director of the Beijing University Food Raw Material Joint Procurement Centre, added, “The partnership with the Circus Group represents a significant step forward in the development of an automated and highly efficient food supply system. Their robotics technology will provide our institutions with access to affordable, high-quality meals on-demand, enhancing the quality of life for both students and teachers at our facilities.” The MoU signed today in Beijing outlines the basic terms of future cooperation between the two parties. The MoU is not legally binding and serves to define the key points of the future contractual agreement until the detailed and legally binding contracts are drawn up.

About Circus Group: The Circus Group (XETRA: CA1) is the leading AI robotics company, specialising in the translation of the fine art of cooking into full autonomy. On its mission to fuel humanity, Circus provides global access to balanced nutrition, for everyone, anytime. The company developed the world’s first commercially viable food production robot, Circus Autonomy One. Circus employs talents in AI, robotics engineering and food service across four locations and is headquartered in Hamburg, Germany.

Contact:
Circus SE
Hongkongstrasse 6
20457 Hamburg
Germany

Investor Relations Contact:
Maximilian Hartweg
Head of Corporate Development
[e-mail]

Press Contact:
Katharina Heller
[e-mail]

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12.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	Circus SE
	Hongkongstrasse 6
	20457 Hamburg
	Germany
E-mail:	[e-mail]
Internet:	https://www.circus-group.com/investors
ISIN:	DE000A2YN355
WKN:	A2YN35
Listed:	Regulated Unofficial Market in Frankfurt, Munich (m:access)
EQS News ID:	1923635

End of News	EQS News Service

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1923635  12.06.2024 CET/CEST