Graze Robotics 2023 Year-End Review: A Journey of Innovation and Growth
Friends,
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.
Leadership Transition
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.
Strategy Recap: Focused on Success
In alignment with our vision, we've maintained focus on five key pillars, ensuring a holistic approach to our success:
Engineering Self-Sufficiency
A core element of our strategy, engineering self-sufficiency, is thriving. Here are some key updates:
- We welcomed Eddie Shaw as CTO and Adam Kordab as Sr. Mechanical Engineer to strengthen core product maintenance.
- Hiten Sonpal has been serving as Interim Chief Product Officer and will continue in this role in 2024.
- Successful internalization of engineering systems, empowering our team with control.
- In field technicians actively collecting valuable field data for the next phase of innovations.
- Completion of our comprehensive “state of the product” report and 2024 product roadmap.
Re-Capitalization for Long-Term Sustainability
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.
Manufacturing Success
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.
Customer Success
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.
Safety
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.
Operational Highlights: Shaping the Future
Innovations and Pilots
Demonstrating Cutting-Edge Technology
- Launching the golf-ball picker attachment, a testament to our commitment to innovative solutions.
- Conducting impactful pilot programs at prominent airports, including DFW Airport, Alliance Airport, and Cincinnati-Kentucky Airport, to showcase the effectiveness and alignment of our innovative technology with specific customer use cases.
Leadership Team Strengthening
- Welcoming Ellen F. Bruno as Chief of Staff and Eddie Shaw as Chief Technology Officer, reinforcing our leadership prowess.
Community Engagement
- Supporting the McKinney Parks Foundation, a reflection of our commitment to community involvement.
Industry Recognition
- Standing out at global events like the Greenbuild International Conference & Expo, ACI-NA Annual Conference and Exhibition, and Equip Expo.
Technological Advancements: Ensuring Excellence
Financial & Governance Updates
- Overhauling financial processes for agility and efficiency.
- Streamlining reporting forshareholder transparency.
- Scrutinizing shareholder shares, CAP tables, and public reports for accuracy.
- Enhancing governance documentation and legal processes.
Engineering Updates
- 40% completion of software upgrades for enhanced mower performance.
- Commencement of hiring for engineering staffing needs.
- Progress on a 3D visualization model for tradeshows and website presentation.
Conclusion
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