Armin G. Schmidt Named CEO of Exoskeleton Pioneer German Bionic

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Aug 30, 2018, 10:17 ET

AUGSBURG, Germany and BERLIN, August 30, 2018 /PRNewswire/ --

Augsburg-based robotics specialist German Bionic bolsters its management: its new CEO will be technology entrepreneur and co-founder Armin G. Schmidt. In cooperation with Dr. Peter Heiligensetzer, who will be responsible for development as CTO, Schmidt will lead further expansion of the first German exoskeleton manufacturer. Advising him will be founder and former CEO of Nokia Here Michael Halbherr, who will take on the role of Chairman of the Advisory Board. Furthermore, Nicholas Barclay-Steuart will join German Bionic as Head of Finance, coming from EY.

Armin G. Schmidt set to scale and internationalise the European technology leader

Successful technology entrepreneur Armin G. Schmidt has been announced as CEO of the German exoskeleton pioneer German Bionic. Schmidt founded streaming service AUPEO and automotive IoT platform ATS Advanced Telematic Systems immediately afterwards, which were sold to Panasonic and Here Technologies respectively, and he will share leadership of German Bionic with technology lead and exoskeleton pioneer Dr. Peter Heiligensetzer. Schmidt served as Senior Director at Here Technologies from last year following the successful sale of ATS, until July 2018.

Schmidt's move to manage German Bionic comes at a time when sales of Europe's first active exoskeleton, the Cray X, are clearly gaining traction. "We are glad that Armin G. Schmidt is moving into the operational business of German Bionic. With our strong team, we know his experience and international network will take us to the next stage," said Dr. Peter Heiligensetzer, the founder and CTO of German Bionic.

Schmidt, CEO of German Bionic, said of the move: "The extremely positive development of the company and the global exoskeleton market have consolidated the leading position of German Bionic in the development and production of this disruptive robotics technology, which eases rather than streamlining human labour. I am looking forward to building on our outstanding market position, as well as implementing scaled production and internationalisation of our sales network."

Michael Halbherr to advise German Bionic

Chairman of the Advisory Board, Nokia Here founder and ex-CEO Michael Halbherr, will advise German Bionic. A co-founder of the company himself, Halbherr brings more than 30 years of experience in top international technology companies. "As well as artificial intelligence, robotics is a major force for technological and social innovation. German companies like German Bionic are also keeping up important momentum in this area," said Halbherr, Chairman of German Bionic.

Nicholas Barclay-Steuart will be Head of Finance

Nicholas Barclay-Steuart will lead finances for German Bionic. With an MA in International Management from ESCP Europe, Barclay-Steuart began his career in investment banking at Lehman Brothers in London. From there he switched to the technology team at EY as M&A advisor, where he consulted to companies such as Bosch, Deutsche Telecom and a variety of VCs.

Positive outlook: Global market for exoskeletons continues to grow

German Bionic Systems, headquartered in Augsburg, is the first German developer and manufacturer of exoskeletons for industrial production. Exoskeletons, or external skeletons, are human-machine systems that combine human intelligence with machine power by supporting or strengthening the wearer's movements. The active-assistive exoskeleton German Bionic Cray X was specially designed for people manually handling goods and tools, in collaboration with leading ergonomists. Working with its wearer, it reduces compression pressure in the lower back area when lifting heavy loads, thus preventing accidents at work and musculoskeletal injuries. According to the Federal Institute for Occupational Safety and Health (BAuA), musculoskeletal injuries (MSD) account for 23% of all sick days in Germany and lead to an estimated production loss of 10 billion EUR and an annual gross loss of 17 billion EUR. The predominant causes of MSD are physical strain during lifting and carrying at work, resulting in damage to muscles and ligaments as well as to bones and cartilage. The demand for exoskeletons is easy to explain against the backdrop of these concerning figures: the independent institute BIS Research predicts a market volume of USD $4.65 billion by 2026.

About German Bionic

German Bionic, headquartered in Augsburg with offices in Berlin and Tokyo, is a German manufacturer developing and building exoskeletons for use in industrial production. Exoskeletons are human-machine systems that combine human intelligence and machine power, thereby enabling individuals to gain increased strength and endurance. German Bionic is one of the world's leading robotics companies focusing on humans in Industry 4.0. Learn more about German Bionic, its products and the minds behind the company at http://www.germanbionic.com/en/home/.

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SOURCE GBS German Bionic Systems GmbH