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SINGAPORE - Primech AI Pte. Ltd., a subsidiary of Primech Holdings Limited (NASDAQ:PMEC), a $43.8 million market cap company with annual revenue of $74.31 million, has announced the deployment of its autonomous bathroom cleaning robot, HYTRON, at a prominent lifestyle and shopping center in Singapore. The introduction of HYTRON marks a significant step in the company’s efforts to enhance facility services with advanced robotics and AI technology.
HYTRON is equipped with NVIDIA’s Jetson Orin Super module, which enables high-performance real-time AI processing and energy-efficient operation. The robot is designed to navigate high-traffic public spaces and maintain cleanliness with minimal human intervention. Charles Ng, Co-Founder and Chief Operating Officer at Primech AI, stated, "HYTRON represents our commitment to addressing real-world challenges in facilities management through purpose-built technological solutions."
The robot’s capabilities are powered by NVIDIA’s suite of technologies, which includes CUDA, cuDNN, TensorRT, and NVIDIA Driver, to ensure consistent performance. With HYTRON now operational, visitors to the mall can observe its efficiency in maintaining restroom hygiene during operating hours. The company’s innovative approach has contributed to its impressive market performance, with InvestingPro data showing a 71.69% return over the past year despite challenging market conditions.
Primech AI’s deployment of HYTRON at one of the busiest destinations in Singapore reflects the company’s growing market presence and its mission to transform urban hygiene solutions. The company continues to develop solutions catering to space-constrained environments common in urban areas across Asia and Europe.
About Primech AI and Primech Holdings Limited, Primech AI is at the forefront of robotics innovation, dedicated to creating impactful technological solutions. Primech Holdings Limited, headquartered in Singapore, is a leader in technology-driven facilities services, offering a wide range of tailored services to a diverse client base and integrating eco-friendly practices and smart technology to improve efficiency and satisfaction.
This news is based on a press release statement and does not include any forward-looking statements that involve risks and uncertainties. The information provided is based on current expectations and projections about future events that could affect the company’s financial condition and business strategy. According to InvestingPro analysis, PMEC is currently trading slightly above its Fair Value. Investors can access additional insights, including 7 more ProTips and comprehensive financial metrics, through an InvestingPro subscription.
In other recent news, Primech Holdings Limited has announced a strategic expansion of its manufacturing capabilities in Guangdong Province, China, through its subsidiary, Primech AI Pte. Ltd. This move aims to address the growing global demand for its HYTRON bathroom cleaning robots, with an initial production target of 300 units. The collaboration with an established electronics manufacturer in Huizhou City will manage the entire production cycle, enhancing efficiency and quality control. Primech Holdings has also revealed a new share repurchase program, authorized by the Board of Directors to buy back up to 20% of the company’s outstanding Ordinary Shares, pending approval at the upcoming Extraordinary General Meeting (EGM). This initiative is seen as a sign of confidence in the company’s strategic direction and future growth prospects. Additionally, Primech Holdings has been actively integrating advanced technologies such as AI and robotics into its services, aiming to set new standards in the facility services industry. The company’s efforts include AI-powered cleaning robots and IoT-enabled systems, which enhance service delivery and reduce operational costs. Primech Holdings continues to emphasize sustainability, with initiatives like deploying an electric vehicle fleet and installing solar panels at its headquarters.
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