Pittsburgh-based U.S. Steel Corporation said it would be making a strategic investment in Freespace Robotics, a robotic storage and retrieval system.
U.S. Steel said the systems are in demand at warehouses worldwide and that the investment will help Freespace hire and retain local talent, as well as recruit others into the Pittsburgh region. Incubated in Carnegie Foundry, a Pittsburgh-based partner of Carnegie Mellon University, Freespace said it will use the U.S. Steel investment to execute on pilot programs, establish its manufacturing presence in the region and scale up its team.
“Investing in Freespace Robotics is another way we’re promoting innovation while supporting the regional economy and its workforce,” Christian Gianni, U.S. Steel Senior Vice President & Chief Technology Officer, said. “Given Freespace’s ambitious growth plan rooted right here in our hometown, this investment also underscores how we’re doubling down on the region because we believe in its potential to be a force for innovation in the U.S. and beyond.”
Freespace Robotics manufactures an autonomous storage system that leverages robots to store and retrieve goods, officials said. Automated storage and retrieval systems are used in warehousing retail and logistics, the companies said, with the warehouse automation market expected to grow to a $44 billion market globally by 2028.
“This region has a long history of industrial innovation through advances in hardware and large-scale equipment,” said Freespace Robotics CEO Dr. Robert J. Szczerba. “U.S. Steel knows first-hand the importance of creating an innovation pipeline for themselves and the additional value of doing so in its hometown with hometown talent.”
Jim Cook, will join the Freespace Robotics Board of Directors. Additional terms of the deal were not disclosed.