🦾 Symbotic: $1B Automation Company No One's Heard Of; 📢 PSA: Power Systems🔌

Automation: Because clicking 'Ctrl+C' and 'Ctrl+V' is just too much work.

Symbotic… Who’s That?

Here’s a conundrum for you to figure out. A man adds $7B, that’s B as in BILLION to his net worth in a single day in the material handling business. His company does just shy of $1B in revenue, has an EBITDA (aka end profit) of $0-$3M, and $23B in order backlog.

This.Doesn’t.Compute.

And it’s a risky bet.

So what’s Symbotic? It’s basically AI powered warehouse robotics and automation. They have a couple of AMRs, palletizers, and other products that they put together to create a highly flexible inventory storage and retrieval system. All the parts of the system are intelligent devices feeding into finely tuned software package.

Why does this latest article erk me? Well, several reasons. Top of mind is that they started 6 deployments (projects that were sold but not yet implemented) and completed commissioning of 1. So over the course of a year that would be approximately 24 systems. Doing some rough math thats $41M dollars per system, or more. Next they say they have $23B in order backlog. Which at their current rate means they are sold out in capacity for the next 20+ years. The cherry on top is the extremely low EBITDA of “maybe” $3M for the year. On a billion dollar year that’s a rounding error where most companies in the $1B+ territory are seing high single digit to double digit percentage EBITDA. So for a $1B company you’d expect $50M+ or so in pure profit.

What this is telling me is that they are doing 1 of four things. Option A…they are ramping up in headcount and their costs are pacing at the same rate of margin growth. Option B…they are selling projects with extremely low margins. Option C…extreme project overruns. Or Option D… a little of all of the above! I’m going with Option D.

As bearish as I am I still want to be bullish. They’re looking at almost doubling in revenue from 2022 and their tech is pretty neat. If this happens then they’d be looking at moving up the Modern Materials Handling list of Top 20 from 18 to about 10/11.

So what’s their next move? Depends on who you ask. The early investors have all made their fortunes. Now it’s time to let the market determine the future of the company. Word on the street is that Symbotic is kinda like Fight Club, once a customer or an employee everything is top secret.

Poor Boston Dynamics Spot was on Fiverr and got this gig..

Tech of the Day: Need More Power, Say You?

In the rapidly evolving landscape of automation, robots have become indispensable tools across various industries. These machines are designed to perform tasks autonomously, augmenting human capabilities, and streamlining operations. A crucial component that enables the seamless functioning of an automated robot is the power system. The power system serves as the lifeblood of the robot, providing the energy necessary to drive motors, sensors, actuators, and other critical components. In this article, we will explore the significance of the power system in automated robots, its key elements, and the advancements that have transformed the capabilities of modern robotic systems.

Automated robots are typically equipped with multiple components, such as sensors, microprocessors, motors, and communication modules. All these components require a reliable and efficient source of power to function optimally. The power system ensures that the robot has a continuous supply of electricity, enabling it to execute tasks effectively and with precision.

The power system of an automated robot must be carefully engineered to provide the right voltage and current levels required by each component. It must also be designed to optimize energy consumption and ensure the robot's endurance during extended operation periods.

Power Source: The power source is the origin of electrical energy for the robot. Commonly used power sources include rechargeable batteries, fuel cells, and solar panels. The choice of power source depends on the robot's application, mobility requirements, and operational environment.

Battery Management System (BMS): In the case of battery-powered robots, a BMS is a critical component. It monitors the battery's state of charge, temperature, and voltage, ensuring safe and efficient operation. The BMS protects the batteries from overcharging, undercharging, and overheating, thus extending their lifespan.

Power Distribution: The power distribution system regulates and directs the flow of electricity to different components within the robot. This system ensures that each component receives the appropriate voltage and current required for its operation.

Power Conversion: Robots often require different voltage levels for different components. Power converters are employed to transform the energy from the power source to the desired voltage levels, catering to the specific needs of the various components.

Energy Storage and Regeneration: Some advanced robotic systems are designed with regenerative capabilities, where energy generated during deceleration or braking is stored and reused. This feature enhances the robot's overall energy efficiency and reduces the strain on the power system.

Redundancy and Fail-Safes: In safety-critical applications, redundant power systems and fail-safe mechanisms are implemented to ensure continuous operation even in the event of a power system failure. These redundant setups offer reliability and prevent catastrophic consequences in critical environments.

The evolution of power system technology has significantly impacted the capabilities of automated robots:

High-Energy-Density Batteries: Advancements in battery technology have led to the development of high-energy-density batteries, such as lithium-ion batteries. These batteries provide greater energy storage capacity, enabling robots to operate for longer durations before recharging is required.

Wireless Charging: Wireless charging technology has been integrated into some robotic systems, eliminating the need for physical connectors and simplifying the charging process. This enables robots to recharge automatically when not in use, optimizing their uptime.

Energy Harvesting: Energy harvesting techniques, such as using solar panels or piezoelectric materials, have been explored to power low-energy-consuming robotic components. These methods harness ambient energy to supplement the power system, increasing the robot's autonomy.

Intelligent Power Management: Advanced algorithms for power management have been developed to optimize energy consumption in robots. These algorithms intelligently allocate power to different components based on their priority and task requirements, further extending the robot's operation time.

Hybrid Power Systems: Some robots employ hybrid power systems that combine multiple power sources, such as batteries and fuel cells. This approach provides a balance between continuous operation and rapid refueling, making robots suitable for extended missions.

The power system is an integral component of automated robots, providing the energy required to drive their functionality and enabling them to perform tasks autonomously. From power sources like batteries and fuel cells to power distribution, conversion, and management systems, each element plays a crucial role in ensuring the smooth and efficient operation of the robot. Advancements in power system technology, such as high-energy-density batteries, wireless charging, energy harvesting, and intelligent power management, have contributed to enhancing the capabilities and autonomy of modern robotic systems. As automation continues to shape industries, the power system remains at the forefront of enabling robots to revolutionize the way we work and live.

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