Circus SE enters into production partnership with a global leader in high-tech manufacturing

Hamburg 14 November 2024 - Circus SE (Xetra: CA1), a leading technology company in AI and autonomous robotics for the food service sector, announces a partnership with a global leader in contract manufacturing for high-technology hardware solutions. Circus SE specialises in autonomous solutions for the USD 2.6 trillion food-service industry, aiming to disrupt the market through the use of AI-Software and robotics. The contract is intended to fulfill the high order volume for CA-1 robots that is currently being negotiated as already published.

The North American based partner is a global leader in high-tech contract manufacturing in sectors such as Industrial, HealthTech, Automotive, and Aerospace. With a strong expertise spanning design, manufacturing, and supply chain solutions, the partner serves Fortune 500 and industry leading companies globally. Operating 40+ factories worldwide with a team of more than 26,000 employees, the new production partner brings innovative technologies from concept to large-scale production with talented teams and locations across North America, Europe and Asia.

Circus CA-1 is a fully autonomous robot transforming the foodservice industry, handling all tasks from ingredient dispensing to cooking, cleaning, and packaging without human intervention. Powered by CircusAI, an end-to-end AI-software for intelligent autonomous operations, CA-1 addresses industry-wide labour shortages and inefficiencies. As the first AI-robotics player in this sector, Circus combines advanced robotics with its proprietary CircusAI software to cut production costs, reduce food-waste, and uphold high standards of quality and hygiene. This innovation enables a scalable, centrally managed network of autonomous kitchens with a fraction of the cost and space compared to labor driven kitchens.

Beginning in December 2024, the parties plan to prepare for the high-volume production of the Circus Autonomy One (CA-1), with an initial ramp-up phase starting in 2025, aiming to reach triple-digit production volumes already in the same year. Significant scale and the full impact of high-volume production with a production capacity of up to 6,000 CA-1 units per annum are expected midterm. Through this partnership, Circus aims to become the world's first company to launch mass production of an AI robot in the food-service industry.

"Partnering with one of the world's leading contract manufacturers is a major acceleration for our global rollout," says Nikolas Bullwinkel, CEO and Founder of Circus SE. "After years of perfecting our technology, we have made a big step forward towards mass production at Circus and preparing for global CA-1 deliveries to existing and new clients. This partnership propels our pioneering approach as the world's first company to scale food production robots, which shall enable us to own a massive market opportunity. We're unlocking one of the biggest AI frontiers in a sector overdue for technology disruption."

While production and assembly will be outsourced to the new partner, Circus will maintain full ownership of the robotics and AI software IP, ensuring that every aspect of the CA-1 robot aligns with its vision for quality and innovation. Working closely with an external manufacturing expert team, Circus will oversee the entire process from its R&D Centre in Munich, delivering a seamless blend of AI-powered robotics with high manufacturing standards.

Hereby Circus retains direct distribution of its robotic systems and AI-software, set to convert its backlog of 8,400 pre-agreements for orders of AI-robots to firm orders and start serving global industry demand across existing partnerships in the institutional and hospitality sector, mobility infrastructure, and retail concepts.

Given these recent developments and visibility on future production combined with Circus pre-order agreements, management has developed a comprehensive path to profitability plan and is confident of achieving a mid term revenue of over EUR 1 billion per year, a gross margin of over 60% of overall revenue and an EBIT margin of 30-35% of overall revenue with the aim to achieve revenues in 2025 as already published. The forecast for the current financial year, as communicated in the ad hoc announcement on May 14, 2024, remains unchanged.

As part of the move from pre-series to high mass-production of CA-1 with the newly formed contract manufacturing partnership in a dedicated 35,000 sqm production site, the company will start exploring capital raising options, including the potential issue of new shares maybe already this year to further speed up growth.

With first deliveries of CA-1 robot units beginning in 2025, Circus is poised to redefine food service with AI-driven precision and unprecedented scalability, continuing to lead the transformation to full autonomy in the food-service sector as a global pioneer.

About Circus SE

Circus SE (XETRA: CA1) is a global leader in AI solutions and autonomous robotics, transforming the EUR2.6 trillion food service sector through full autonomy. With its proprietary AI platform, CircusAI, and the world's first commercially viable AI-robot in food service, CA-1, Circus is pioneering AI in food service to address industry-wide labour shortages.

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