Gecko Robotics enters into $100 million partnership with energy company, hopes it can spark the Pittsburgh economy
Gecko Robotics is a rising star in the Pittsburgh economy and it just landed a $100 million strategic partnership with a major energy company, but at a time when the Pittsburgh region is losing both jobs and people - can companies like Gecko turn things around?
Earlier this week, we reported on Gecko Robotics and how their robots can climb just about anything, and now, the information gathered by those robots is so critical that the energy giant NAES has entered into a $100 million partnership to ensure its power plants keep running as energy demand only grows.
"To help meet a moment when we need to create more energy and make things last longer than they ever have before, and to be producing way more than ever before," said Gecko Robotics CEO Jake Loosaraian. "We can't build new facilities in time."
The partnership is a shot in the arm for the region that has largely failed to capitalize on its assets of robotics, artificial intelligence, and energy. Since the pandemic, Pittsburgh ranks last in the industrial midwest in creating new jobs. While regions like Lexington, Kentucky, and Columbus, Ohio have gained jobs surpassing pre-pandemic levels, Pittsburgh has lost jobs and people.
Next door, Intel is building a $20 billion microchip plant in Columbus and Rochester, New York is building a $5 billion plant.
"For a long time, Pennsylvania has been on the sidelines," said Governor Josh Shapiro. "We're back in the game, we're growing again thanks to companies like Gecko and so many others that are locating here or growing here."
The governor now has a ten-year economic development plan to develop industrial and commercial sites, provide tax and other incentives to attract and compete for those who have more recently gone elsewhere.
The state is also looking at ways to retain and grow companies like Gecko, which is now valued at close to $1 billion, and they're looking to grow.
"Pennsylvania is the exact place we want to be doing it," Loosaraian said.
The hope is that this strategic partnership between Gecko and NAES can be an example of what is possible for Pittsburgh and it can finally leverage and capitalize on its homegrown assets like AI, robotics, and energy.
