Latest news with #KodiakDriver
Business Insider
2 days ago
- Automotive
- Business Insider
Atlas Energy take delivery of two additional driverless trucks
Kodiak Robotics announced the delivery of two additional driverless trucks to Atlas Energy (AESI) and the launch of up to 24/7 driverless service, stopping only for things such as maintenance and refueling. Atlas now owns and operates four trucks equipped with the Kodiak Driver, Kodiak's advanced AI-powered autonomous solution. The new Kodiak Driver-powered trucks entered service in late May. Since launching commercial operations with driverless trucks in December 2024, Atlas's Kodiak Driver-powered trucks have delivered over 800 loads and conducted over 1,600 hours of driverless service. In April, Kodiak announced that it had received a firm commitment from Atlas to order an initial total of 100 trucks, after Kodiak achieved certain key performance and operational milestones. Confident Investing Starts Here:
Yahoo
3 days ago
- Automotive
- Yahoo
Kodiak Announces Delivery of Two Additional Customer-Owned and -Operated Driverless Trucks to Atlas; Launches Driverless Service Up To 24/7
With the delivery of these new trucks, Atlas Energy Solutions now owns and operates a fleet of four driverless trucks equipped with Kodiak's technology, with more expected in 2025 Atlas's fully driverless trucks are now capable of operating up to 24/7 MOUNTAIN VIEW, Calif., June 10, 2025 /PRNewswire/ -- Kodiak Robotics, Inc. ("Kodiak"), a leading provider of AI-powered autonomous vehicle technology, today announced the delivery of two additional driverless trucks to Atlas Energy Solutions Inc. ("Atlas") and the launch of up to 24/7 driverless service, stopping only for things such as maintenance and refueling. Atlas now owns and operates four trucks equipped with the Kodiak Driver, Kodiak's advanced AI-powered autonomous solution. The new Kodiak Driver-powered trucks entered service in late May. The two new Kodiak Driver-powered trucks are part of a 100-truck order placed by Atlas as the company seeks to automate its supply chain. The driverless trucks pick up frac sand from Atlas's Dune Express, a 42-mile conveyor system that carries the sand from Atlas's mine closer to well sites. From there, the driverless trucks transport the sand to Atlas's customer well sites across in the Permian Basin, which spans parts of West Texas and Eastern New Mexico. "Our initial rollout of Kodiak Driver-powered driverless trucks represents a significant operational milestone in our autonomous strategy, creating a clear path to continue scaling our businesses together," said John Turner, President and CEO, Atlas Energy Solutions. "Kodiak's autonomous technology can meaningfully help us address challenges ranging from driver recruitment to demanding operating conditions. We plan to continue adding Kodiak Driver-powered trucks to our fleet helping to strengthen our long-term competitiveness." Since launching commercial operations with driverless trucks in December 2024, Atlas's Kodiak Driver-powered trucks have delivered over 800 loads and conducted over 1,600 hours of driverless service. In April, Kodiak announced that it had received a firm commitment from Atlas to order an initial total of 100 trucks, after Kodiak achieved certain key performance and operational milestones. Kodiak offers its Kodiak Driver-powered trucks under a Driver as a Service model, where customers pay a per-mile or per-vehicle licensing fee that covers driverless operations and ongoing system support, with its trucks delivering day and night in most weather conditions. "We continue to make rapid progress on the Kodiak Driver's core technology, enabling such critical features as night driving, " said Don Burnette, Founder and CEO of Kodiak. "Our work with Atlas demonstrates the Kodiak Driver's ability to provide value to commercial trucking customers. We believe the driverless operational experience we're gaining in the Permian Basin will position us to more efficiently scale our driverless operations across domains, including on-highway." About Kodiak Robotics, Robotics, Inc. was founded in 2018 and is a leading provider of AI-powered autonomous vehicle technology that is designed to help tackle some of the toughest driving jobs. Kodiak's driverless solution can help address the critical problem of safely transporting goods in the face of unprecedented supply chain challenges. Kodiak's vision is to become the trusted world leader in autonomous ground transportation. Kodiak is committed to a safer and more efficient future for all through the commercialization of driverless trucking at scale. To that end, Kodiak developed the Kodiak Driver, a virtual driver that combines advanced AI-powered software with modular and vehicle-agnostic hardware designed to help address Kodiak's customers' needs. The Kodiak Driver is not just an idea—it is operating without a human driver today. Kodiak serves customers in both commercial trucking and the public sector. In 2024, Kodiak believes it achieved a historic milestone by becoming the first company to deploy customer-owned and -operated driverless trucks in commercial service. The Kodiak Driver is also being utilized in the public sector, where Kodiak believes it can support national security initiatives and critical government applications. About Atlas Energy SolutionsAtlas Energy Solutions Inc. (NYSE: AESI) is a leading solutions provider to the energy industry. Atlas's portfolio of offerings includes oilfield logistics, distributed power systems, and the largest proppant supply network in the Permian Basin. With a focus on leveraging technology, automation, and remote operations to enhance efficiencies, Atlas is centered on core mission of improving human access to the hydrocarbons that power our lives and, by doing so, maximizing value creation for our shareholders. FORWARD-LOOKING STATEMENTS This press release includes forward-looking statements relating to Kodiak's and Atlas's expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "project," "seek," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding: the ability of Kodiak and Atlas to scale their businesses together; the ability of Kodiak's to help address certain challenges facing Atlas's business and improve Atlas's competitiveness; and Kodiak's ability to efficiently scale its business. These statements are based on various assumptions and on the current expectations of Kodiak's or Atlas's management, as applicable, and are not predictions of actual performance. These forward-looking statements are subject to a number of risks and uncertainties, including changes in business, market, financial, political and legal conditions; the rapid evolution of autonomous vehicle technology and flaws or errors in Kodiak's solutions or flaws in or misuse of autonomous vehicle technology in general; the effects of competition; supply shortages in the materials necessary for the production of the Kodiak Driver; risks related to working with third-party manufacturers for key components of the Kodiak Driver; risks related to the retrofitting of Kodiak's vehicles by third parties; and the termination or suspension of any of Kodiak's contracts or the reduction in counterparty spending, including with Atlas. View original content to download multimedia: SOURCE Kodiak Robotics Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-04-2025
- Automotive
- Yahoo
Kodiak Robotics to go public through merger with AACT
Kodiak Robotics, a developer of autonomous vehicle technology, has signed a definitive business combination agreement with Ares Acquisition Corporation II (AACT), a special purpose acquisition company affiliated with Ares Management Corporation. Upon completion of the transaction, Kodiak will become a publicly listed company in the US under the name Kodiak AI. Founded in 2018, Kodiak focuses on AI-powered autonomous driving systems for the commercial trucking industry. Its core product, the Kodiak Driver, is a single-platform solution combining AI software and modular hardware designed to integrate with customers' existing logistics operations. The boards of Kodiak and AACT have unanimously approved the proposed merger. The business combination values Kodiak at a pre-money equity valuation of $2.5bn. The transaction is expected to provide the combined company with approximately $551m in cash from AACT's trust account, assuming no redemptions. Institutional investors, including affiliates of Soros Fund Management, ARK Investments, and Ares, have committed over $110m in support of the transaction. Existing investor ARK Investments has reaffirmed its support for Kodiak. Kodiak founder and CEO Burnette said: 'We believe entering the public markets will accelerate our strategy to expand our existing partner relationships, provide our technology to a broader customer base, and deliver enhanced solutions across the commercial trucking and public sector industries.' Subject to shareholder approval and other customary closing conditions, the transaction is expected to close in the second half of 2025. AACT CEO and co-chairman of the board of directors and co-founder of Ares David Kaplan said: 'As an early-mover in autonomous trucking and first to deliver a commercial driverless product to a customer, Kodiak has quickly set itself apart as an industry leader in a significant addressable market.' "Kodiak Robotics to go public through merger with AACT" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
15-04-2025
- Automotive
- Yahoo
Kodiak Robotics going public via SPAC
The rumors were true and the SPAC is back. Kodiak Robotics announced Monday it has entered into an agreement with Ares Acquisition Corp. II (AACT), a publicly traded special purpose acquisition company that will make Kodiak a publicly listed company valued at around $2.5 billion. The combined company will be named Kodiak AI Inc. New and existing institutional investors for Kodiak include Soros Fund Management, ARK Investments and Ares. They have funded or committed to over $110 million in financing in addition to approximately $551 million in cash, held in trust. Rumblings about the deal were announced last month by Bloomberg, with the blank check firm AACT led by David Kaplin having raised $450 million in April 2023. Prior to founding Kodiak Robotics in 2018, Don Burnette had previously worked for Google's self-driving car project before it became Waymo. Burnette left Google after five years to found Otto, a self-driving truck startup later acquired by Uber. 'This is a remarkable milestone for the Kodiak team and reinforces our confidence in the significant value proposition we see in our differentiated driverless technology,' said Burnette, founder and CEO of Kodiak in a news release. 'We believe entering the public markets will accelerate our strategy to expand our existing partner relationships, provide our technology to a broader customer base, and deliver enhanced solutions across the commercial trucking and public sector industries.' Kodiak boasts a first-to-market fully active driverless truck operation from its partnership with Atlas Energy Solutions operating in the Permian Basin. Kodiak announced in January it had completed the delivery of 100 loads of proppant with two RoboTrucks equipped with Kodiak Driver, Kodiak's self-driving system. The Kodiak-powered Atlas trucks have over 750 hours of commercial driverless operations with further support inbound via a firm commitment by Atlas for an initial order of 100 trucks. 'As an early-mover in autonomous trucking and first to deliver a commercial driverless product to a customer, Kodiak has quickly set itself apart as an industry leader in a significant addressable market,' said David Kaplan, CEO and co-chairman of the board of directors of AACT and co-founder of Ares. 'We are excited to partner with Don and the Kodiak team as they seek to further capitalize on significant industry tailwinds and deliver value for their stakeholders.' Kodiak's business model works via a Driver-as-a-Service business model. Customers use Kodiak-equipped RoboTrucks and are charged either a per-truck or per-mile recurring license fee. In the case of Atlas, Kodiak owns and operates autonomous trucks, and Atlas pays as a fee per delivery by the trucks. The release notes that in addition to Atlas, Kodiak has collaborated with companies including Bridgestone, C.R. England, J.B. Hunt, Martin Brower and Werner Enterprises. Besides truckload operations, Kodiak has a Department of Defense contract for approximately $30 million to adapt its autonomous technology for U.S. Army vehicles. The autonomous freight space is projected to be lucrative. While Kodiak primarily operates in the Sunbelt, the company estimates that there is 'a roughly $1 trillion market opportunity in the U.S. alone, with the potential for a total global addressable market of over $4 trillion.' The post Kodiak Robotics going public via SPAC appeared first on FreightWaves.
