A Koch Industries unit has made a "significant investment" in a robotics company.
Koch Chemical Technology Group and Canada-based Genesis Advanced Technology announced an agreement Wednesday that includes a "strategic, controlling investment from Koch" in Genesis Robotics.
Genesis Robotics, a GAT subsidiary, has developed what it said is innovative electric motor and actuation technologies, including a proprietary actuator it calls LiveDrive, that will advance robotics.
Those technologies, for example, can be used in an exoskeleton that could help workers lift heavy objects while lowering their risk of injury.
"Our significant investment in Genesis Robotics enables Koch to partner with a team developing disruptive technologies in the rapidly growing robotics market," Bob DiFulgentiz, president and chief operating officer of Koch Chemical Technology Group, said in a news release.
The companies didn't disclose the financial terms of the investment and agreement.
With the agreement, they will form a new company called Genesis Robotics and Motion Technologies.
James Klassen, who invented LiveDrive and is chief technology officer of Genesis Robotics, said having Koch as a partner will help to bring LiveDrive to market as well as help with the new company's other product development efforts.
"Koch's global reach in marketing and commercialization, as well as their history of successfully growing businesses, will allow us to continue to work with industry-leading companies who can benefit from incorporating our technologies into their offerings."