News.

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Clarksburg, MD – September 10, 2024 – Forterra, a leading self-driving technology company, today announced its $75 million Series B fundraise that was more than 2.5x oversubscribed. The round was led by Moore Strategic Ventures, XYZ Venture Capital, and Hedosophia, with participation from Standard Investments and existing investors including, Enlightenment Capital, Crescent Cove Advisors, and Four More Capital. The new funding will enable Forterra to accelerate and scale the deployment of their autonomous driving system (ADS), AutoDrive®, with defense and industrial customers.

“Forterra has proven that self-driving technology can be deployed today to solve real-world challenges in demanding environments,” said Josh Araujo Forterra CEO. “We are committed to improving the lives and safety of soldiers, Marines, and industrial workers, by taking people out of harm’s way with AutoDrive.  This funding allows us to further develop, test, and deploy self-driving platforms with ever-increasing capabilities for both defense and industrial applications.”

“We can’t imagine a team better suited to take on these challenges — of everyone in the market, they have the right to win given their firsthand experience on the battlefield and interacting with government buyers,” says Ross Fubini, Managing Partner of XYZ Venture Capital, which co-led this round. “They know exactly what these machines need to be capable of doing and have the acumen and connections to move fast and build the best solutions. We see a lot of defense tech at XYZ, and Forterra is uniquely set up for product-market fit.”

Logan Ashcraft, Principal at Standard Investments, said “We believe in the potential for autonomous technology to disrupt many high-cost, low-margin business models. In its approach to both industrial and off-road autonomy, Forterra is setting a new standard for excellence across logistics, industry, and defense. We’re excited to partner with the company in its next stage of growth.”

The funding follows a series of significant milestones for Forterra over the past 12 months, including:

• The first successful deployment of autonomous driving systems (ADS) on the first production program in the Department of Defense (DoD) - The Remotely Operated Ground Unit for Expeditionary (ROGUE) Fires

• A strategic partnership with Kalmar for production of self-driving terminal tractors for global distribution

Forterra is actively delivering capabilities on these DoD ground autonomy programs, including:

o The Robotic Combat Vehicle (RCV)

o The Ground Expeditionary Autonomous Retrofit System (GEARS)

o The Small Multi-purpose Equipment Transport (SMET) with operational units

These efforts enable the DoD to scale logistics capabilities and firepower without adding people to combat units. The Forterra team is committed to continuing to build innovative self-driving systems that prioritize safety, efficiency and scale, and we are excited to continue this mission.

Media Contact:

Media@Forterra.com

For more information about Forterra, please visit www.forterra.com

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When Forterra’s foundation was laid over twenty years ago, it was done with one mission: to research and develop ground autonomy in support of our armed forces. Today, we leverage this past to deliver autonomous systems built for our future, and we’re proud to be the only company active on each of the Department of Defense’s ground autonomy programs.

For the better part of the last two decades, our work was known to few outside of the DoD. Our focus has been unapologetically driven not by chasing headlines or recognition but by our belief in our technology and the impact it will have on national resilience – in stark contrast to an industry rife with technological promises that lack fulfillment and artificial values aimed at near term gain.

We have been on a mission to deliver self-driving platforms for our customers. Our relentless efforts have translated to fielding more autonomous systems for the U.S. military than anyone else. We stand by our products and the impacts they make for our users and remain focused on the main thing – getting humans out of harms way.

In January, I was honored to be named CEO by our founder, Alberto Lacaze, and the Forterra Board of Managers. This honor is two-fold: it grants me the opportunity to support our employees in scaling our technology, and it enables me to continue to work alongside Alberto, one of the brightest minds in the industry and the driver of our technical innovation.

In February, we announced our rebrand to Forterra, a name that better encapsulates our focus on ground-based autonomy in the defense and industrial sectors.

Also in February, we were proud to be named as a partner to Anduril Industries and Hanwha Defense USA in pursuit of the U.S. Army’s Small Multipurpose Equipment Transport (S-MET) Increment II program, where we will provide our AutoDrive® vehicle autonomy solution to enable complex on- and off-road maneuvers.

And just last month, we were thrilled to announce a production deal with Kalmar to produce autonomous terminal tractors for port and logistics operations. Under the terms of the deal, we’ll work with Kalmar to jointly deliver paid pilot sales by the end of 2024, with an expected delivery date of Q1 2025. This deal, together with our partnership with Oshkosh Defense on the ROGUE Fires program, makes Forterra the first AV company in production for both Defense and Commercial sectors.

As Forterra’s CEO, I’m extremely proud of our accomplishments to date and look towards the next chapter with the team.

Thank you for your support,

Josh  Araujo

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Kalmar, part of Cargotec, and Forterra (formerly RRAI) have signed a joint development agreement for autonomous terminal tractor solutions. Kalmar will be responsible for developing the automation-ready terminal tractor – including the drive-by-wire solution integration – as well as the Kalmar One fleet management system to manage the operation of automated terminal tractor fleets. Forterra will be responsible for the integration of their AutoDrive® platform for autonomous operations for the terminal tractor.

Forterra is a leading provider of autonomous systems for ground-based movement in the working world. The company is among the earliest innovators in the field of driverless technology. The company has provided autonomous solutions for the U.S. Department of Defense and off highway commercial applications, and its AutoDrive® system is one of the leading driverless systems for complex conditions including ports and logistics centers.

Josh Araujo, CEO, Forterra: “This agreement brings together our vast experience in developing world-class autonomous systems and Kalmar’s extensive experience in port and terminal automation with their market-leading terminal tractor product. We believe AutoDrive® is the best platform to create a compelling new offering for the container and trailer-handling market.”

Juuso Kanner, Vice President, Automation Business Line, Kalmar: “We believe that automated operations will eventually become the standard in the container-handling industry, and there is huge potential in automating terminal tractors in terms of safety and productivity. This development agreement is the next exciting step in our innovation journey after the successful Kalmar RoboTractor pilot done in Norway and utilizing the learnings we took from that. Now we will leverage our extensive experience in straddle carrier automation, which has been adopted by a number of leading container terminals around the world. Forterra’s position as a global leader in autonomous driving systems makes them the ideal partner for this exciting initiative.”

Further information for the press:

Juuso Kanner, Vice President, Automation Business Line, Kalmar, juuso.kanner@kalmarglobal.com

Maija Eklöf, Vice President, Marketing and Communications, Kalmar, tel. +358 20 777 4096, maija.eklof@kalmarglobal.com

Sean Rushton, Shadowlawn Communications (for Forterra), tel. +1 202 487 6439,
sean@shadowlawncomms.com

Kalmar is the global leader in sustainable cargo handling for ports, terminals, distribution centres and heavy industry. With our extensive electric portfolio and global service network, we help our customers move towards safer, more eco-efficient and productive operations. Together, we develop innovative solutions that shape the future of our industry, improving our customers’ every move. www.kalmarglobal.com  

Kalmar is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2023 totalled approximately EUR 4.6 billion and it employs around 11,400 people. www.cargotec.com

Forterra is the U.S. military's top provider of self-driving vehicles, from large combat trucks to small equipment transports and mobile missile systems. Its specialty is driverless operations in austere, off-highway, and industrial environments. www.forterra.com

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Insider Talk on Today's Defense Tech: An informal, highly informative, honest conversation about shepherding Defense Tech companies like Anduril and Forterra through stages of success. Join Scott Sanders, Chief Growth Officer Forterra, Ross Fubini, Managing Partner XYZ Venture Capital, and Adam Hardej, CEO Sandhill Markets, on the Sandhill Podcast:

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Few technologies offer the immediate, live saving, benefits to warfighters on the battlefield. Autonomous vehicles offer that solution today, by relieving soldiers of the high-risk tasks required to keep forces equipped on the frontlines. The impacts are profound.

By removing human operators from potentially hazardous situations, these vehicles can navigate complex environments safely and efficiently. This not only minimizes the direct exposure of soldiers to danger but also allows for more strategic and effective use of military resources.

The integration of lidar technology, exemplified by industry leaders like Ouster, further amplifies the advantages of autonomous military vehicles. Lidar sensors play a crucial role in providing accurate and real-time environmental data, enabling precise navigation and obstacle detection. The utilization of lidar contributes to increased operational capabilities, enabling military vehicles to navigate diverse and challenging terrains with greater precision.

Forterra is dedicated to the evolution of autonomous technology and, its application in defense not only to ensure the safety of soldiers but also enhances the overall effectiveness of military operations.

CLARKSBURG, MD – Robotic Research Autonomous Industries (RRAI) is pleased to announce that it has changed its name to  Forterra, solidifying its focus on ground-based autonomy innovation in the defense and commercial sectors. 

“Since our founding over 20 years ago, we have been focused on the deployment of groundbreaking autonomy systems,” Forterra CEO Josh Araujo said. “Our rebrand to Forterra represents who we are today, while reflecting our history and the mission that drives us. We exist to empower people and their missions — regardless of the environment.” 

Forterra’s focus on defense vehicles and off-road, on-property commercial trucks is unique. By avoiding the regulatory risks faced by robo taxi and on-highway driverless trucking firms, Forterra expects a quicker trajectory to profitable growth than its competitors.  

“Forterra’s approach, with defense as our priority, puts our AutoDrive® autonomy platform front and center in handling the hardest conditions,” Araujo added. “We are confident in the DoD’s focus in this area and our business model sets us apart from our competitors which gives us the financial stability to innovate and grow.” 

Since its founding in 2002, Forterra (formerly Robotic Research) has led the development and deployment of ground autonomy systems in defense. Forterra’s technology has been operated on four continents and in over10 countries. Forterra is the only company competing on all four DOD ground autonomy programs and the only firm currently producing driverless vehicles for the military. In fact, Forterra engineers helped DoD establish its driverless vehicle performance specifications. 

The company’s AutoDrive® autonomy platform works across different vehicle types and in complicated environments. Forterra is the only autonomy company that uses NDAA-compliant components and is optimized to meet the mission requirements of the most stringent customers, such as the US Military.  

“Crescent Cove has been extremely proud to support the RRAI/Forterra team over the past two years,” said Crescent Cove Founder and CIO Jun Hong Heng, an investor in the company. “The essence of Forterra’s rebrand is captured by its promise to deliver autonomous mobility in the most complex driving environments.” 

Forterra estimates that the total US defense market for ground autonomy will be worth over $4 billion by 2026. In 2023, Forterra booked four large contracts with the DoD, including the first production contract for self-driving systems in the US Military. 

The company’s success in rugged, off-road environments enabled them to deploy mature technology into the industrial markets. In 2023,Forterra won contracts to provide self-driving yard trucks to Truck Specialized Information Services (TSIS) at its Detroit freight facility and for driverless off-highway logging trucks with FPInnovations of Canada.  

While both projects are initially small, the numbers are expected to grow in coming years. Forterra estimates the total commercial market – logistics centers and drayage/private roads – at $23 billion total. Forterra is currently running pilot programs with several Original Equipment Manufacturers (OEMs) and is fully booked for 2024.  

About the New Name 

The name Forterra combines “for” as in “directed to” or“belonging to,” with “terra,” from Latin meaning “earth” or “solid ground.” In addition, its implied qualities include “forte” from Latin fortem or “strong” –an ability to withstand a great force or pressure. And RR – the double Rs pay homage to the company’s prior name – “Robotic Research” – and its 20+ year history.