Richtech Robotics Inc. announced a non-binding Letter of Intent with Ghost Kitchens International Inc. to launch 240 ADAM robotic beverage systems at Ghost Kitchens restaurants, some of which are currently located inside Walmart stores. ADAM, Richtech's premiere robotic solution, will execute complex barista tasks with human-like precision inside the highly popular retailer locations. The announcement of these plans follows recent company milestones, including its November 22nd IPO and the launch of AI enhancements for its robot ADAM.

Unveiled during this year's Consumer Electronics Show, ADAM's newest AI capabilities allow it to engage in sophisticated conversations with customers and emulate human actions with exceptional accuracy. Ghost Kitchens International operates a network of distinctive restaurant locations across Canada and the United States. Within each location, Ghost Kitchens prepares, markets, and sells a range of nationally branded products including food, beverages, and packed goods for both walk-in and delivery customers.

Under the LOI, Ghost Kitchens intends to purchase and deploy ADAM inside all current and upcoming Ghost Kitchens to improve operations and engage with customers. According to the framework of the LOI, Richtech Robotics will keep the ADAM beverage system running through programming, maintenance, and repair, while Ghost Kitchens continues its role managing staff, location logistics, and associated leasing within Walmart. ADAM will operate through a fully integrated touchscreen POS for ordering and payments, make customized beverages on demand, as well as offer its intelligent conversation AI with voice activation and natural language processing.

Ghost Kitchens staff will be fully trained to work the ADAM, with Richtech committed to serving as a standing resource in real-time for any needed support. The implementation of the LOI is subject to, among other matters, the negotiation of a definitive agreement of both companies, as and when applicable. There can be no assurance that a definitive agreement will be entered into or that the LOI will be implemented on the terms or timeframe currently contemplated, or at all.