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Primech AI Secures Foothold in Europe's Rapidly Growing €10+ Billion Service Robotics Market Through Strategic Partnership with TCOrobotics GmbH

1. Primech AI enters European market via MOU with TCOrobotics for distribution. 2. Partnership capitalizes on €10 billion service robotics market, projected to grow significantly. 3. DACH region's high labor costs create favorable conditions for HYTRON robots. 4. Strong demand for cleaning automation anticipated post-COVID-19 in commercial settings. 5. Expansion aligns with EU's supportive policies for robotics innovation and regulation.

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Why Bullish?

The strategic partnership opens up a lucrative European market, enhancing revenue potential. Historical entries into new markets have often led to increased stock valuations due to expanded growth prospects.

How important is it?

The announcement reflects a strategic move into a high-growth market, indicating potential earnings growth which can drive stock valuations. European market expansion aligns with PMEC's innovation trajectory, making it highly relevant.

Why Long Term?

The two-year agreement indicates sustained engagement in the European market, suggesting that revenue impact will be significant over the medium to long-term as the market matures.

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ROSTIRBTDADA
April 29, 2025 08:30 ET  | Source: Primech Holdings Ltd. SINGAPORE, April 29, 2025 (GLOBE NEWSWIRE) -- Primech AI Pte. Ltd. ("Primech AI" or the “Company”), a subsidiary of Primech Holdings Limited (Nasdaq: PMEC), today announced its strategic entry into the European market through a Memorandum of Understanding (MOU) with TCOrobotics GmbH, establishing a distribution framework for its innovative HYTRON, AI-powered autonomous bathroom cleaning robots across Germany, Austria, and Switzerland (DACH region). The two-year agreement positions Primech AI to capitalize on Europe's booming service robotics market, currently valued at over €10 billion annually and projected to reach €20-30 billion by 2030. With European service robot suppliers representing approximately 44% of global providers, this partnership gives Primech AI access to one of the world's most sophisticated robotics ecosystems. "Europe represents an exceptional growth opportunity for Primech AI, with the EU service robotics market experiencing double-digit annual growth driven by labor shortages, technological advances, and increasing acceptance of automation solutions," said Charles Ng, Co-Founder and Chief Operating Officer of Primech AI. "Our partnership with TCOrobotics gives us an immediate market presence in the DACH region, which is at the forefront of adopting innovative cleaning technologies and boasts some of the world's leading robotics companies." The European market is particularly receptive to autonomous cleaning solutions, with specialized cleaning robots seeing increased deployment following the COVID-19 pandemic. The region's high labor costs, aging workforce, and strict hygiene standards in commercial facilities create ideal conditions for Primech AI's HYTRON robots, which offer cost-effective, consistent cleaning performance. Under the terms of the MOU, TCOrobotics, based in Vaihingen an der Enz, Germany, will oversee all aspects of regional distribution, including installation processes, maintenance, technical support, and customer training. The Company will work closely with Primech AI to ensure consistent quality standards and effective implementation of HYTRON robots at customer facilities. "We're seeing tremendous demand for advanced cleaning automation across the DACH region," said Aleksandar Birmanac, CEO of TCOrobotics GmbH. "Primech AI's HYTRON robots represent a perfect solution for facilities managers looking to address labor shortages while improving cleaning consistency and operational efficiency. We anticipate strong adoption across a variety of commercial settings."This European expansion represents a significant milestone in Primech AI's global growth strategy and offers substantial potential for revenue growth in a market expected to double in value by 2030. The Company's entry into Europe also benefits from the EU's supportive policy environment for robotics innovation while meeting the region's stringent regulatory requirements. According to the International Federation of Robotics, Primech AI's expansion comes at a time when specialized professional service robots for cleaning saw 12% year-over-year growth globally in 2022. The DACH region specifically has seen accelerated adoption of cleaning robots in commercial settings following the pandemic, with businesses increasingly viewing robot deployment as both a practical necessity and a marketing advantage that signals cleanliness and technological sophistication to customers. About Primech AIPrimech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai. About Primech Holdings LimitedHeadquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.     Forward-Looking StatementsCertain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Company Contact: Email: ir@primech.com.sg Investor Relations Contact:         Matthew Abenante, IRC President                                         Strategic Investor Relations, LLC                                          Tel: 347-947-2093 Email: matthew@strategic-ir.com

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