As we approach the close of a transformative year, I want to extend my heartfelt gratitude to each member of the Graze team and family for your unwavering dedication and commitment to our mission. 2023 has been demanding, but the teams’ tireless efforts have been instrumental in propelling Graze Robotics to new heights. Today, I'm excited to provide you with a key update and 2023 recap on our strategic pillars and the remarkable progress we've achieved.
First and foremost, I am honored to have taken the helm as CEO and President of Graze. The past few months have been a period of strategic transformation, and I am energized by the progress we've made and the unwavering support from each member of our dedicated team.
In alignment with our vision, we've maintained focus on five key pillars, ensuring a holistic approach to our success:
A core element of our strategy, engineering self-sufficiency, is thriving. Here are some key updates:
We are thrilled to share that our re-capitalization efforts have been successful, and we are working on closing out final documentation by year-end. The anticipated funding date is January 16th, 2024. This has been a major strategic update and couldn’t have been accomplished without the support of our CFO, Sarah Gasch.
Our manufacturing strategy is unfolding with BYD as our long-term partner, coupled with local collaborations. NRE completion is a crucial step, paving the way for cost-effective redesigns. We anticipate launching our first major product run in Q1 2024.
Our paramount pillar, customer success, has seen tremendous demand. We continue educating prospective customers, starting with solar fields and then airports, with a focus on long-term success. We have successfully launched pre-orders, including selling out our first production run. We are currently accepting pre-orders for our second production run in 2024.
Recognizing safety as our top priority, we continue making strides in safety parameters, ensuring our product is well-tested and practical for our specific use cases. This includes advancing our lidar system, increasing on-machine sensors and improving our overall objection detection and autonomy path planning.
Demonstrating Cutting-Edge Technology
Leadership Team Strengthening
Financial & Governance Updates
As we conclude this transformative year, Graze Robotics stands firm in its commitment to delivering unparalleled value. Your support, belief in our vision, and contributions have played a pivotal role in our journey. I invite you to stay connected, share your insights, and be part of our exciting future endeavors.
Wishing you a joyous holiday season and a prosperous New Year.
Logan Fahey Franz
President & CEO