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OffWorld and Ma’aden Collaborate to Spearhead a New Era of AI-Powered Swarm Robotic Mining

RIYADH - (01/27/2023) - OffWorld and Ma’aden sign Memorandum of Understanding toinitiate the first deployment of autonomous industrial mining robots in Ma’aden’s mines. By enabling precision robotic mining for ore bodies deep underground, OffWorld is heralding a new era of fully electric zero-carbon mining while stimulating future jobs around artificial intelligence.



OffWorld, the global pioneer in AI-powered industrial Swarm Robotic Mining systems and Saudi Arabia's leading mining enterprise — Ma’aden — one of the fastest-growing mining companies in the world signed a Memorandum of Understanding at the Future Minerals Forum in Riyadh to take first steps toward achieving autonomous industrial mining by exploring the potential of utilizing smart robots in Ma’aden’s mines. The promise of these robotic mining swarms will usher in a new era of zero-carbon footprint mining with no people in harm’s way and will revolutionize the processing of the minerals in the mine itself.


Jim Keravala, OffWorld Chief Executive Officer and Co-founder said: “OffWorld is developing the world’s most rugged industrial swarming robots who are able to operate in the frigid cold of the tundra to the scorching heat of the desert. We are excited to be working with such a progressive company as Ma’aden, which is dedicated to building the mines of the future whilst leading the way with action. This generation's obligation to care for our planet's needs whilst striving to provide for humankind calls for bold leadership and a commitment to make positive change on a grand scale. We are honored to take this journey together with Ma’aden.”


Hamad Al-Rashidi, Ma’aden Senior Vice President of Safety, Sustainability & Innovation commented: “The mining industry has been lagging to fully unlock the capabilities of emerging technologies. The world cannot afford for the mining industry to continue to operate legacy mining methods that put humans in harsh operational environments and unnecessarily move millions of tonnes of waste material. Ma’aden intends to lead the way by leveraging technological advancement in robotics and Artificial Intelligence to achieve fully autonomous mining.”


ABOUT OFFWORLD, INC.

OffWorld is a private company that is pioneering the design, development, and manufacturing of AI-powered industrial swarm robotic platforms. It is headquartered in Pasadena, California, and has offices in South Africa, Australia, and Luxembourg. OffWorld was founded in 2016 with the goal of expanding human civilization beyond Earth with the help of thousands of smart robots. It is reinventing the mining, manufacturing, and construction industries by developing a new generation of swarm robotic species that can withstand extreme conditions and work collaboratively in an eco-friendly approach while keeping humans out of harm’s way.


ABOUT MA'ADEN

Ma’aden is the largest multi-commodity mining and metals company in the Middle East and among the fastest-growing mining companies in the world, with revenues of SAR 26.7 billion ($7.12 billion) in 2021. The company is developing the mining industry into the third pillar of Saudi economy in line with Vision 2030, and aims to be a role model in responsible and sustainable operations.

Ma’aden operates 17 mines and sites, has 6,000+ direct employees and exports products to over 30 countries. It is embarking on massive growth over the next 18 years across its phosphate, aluminum, gold, copper and new minerals – to leverage the Kingdom’s estimated $1.3 trillion mineral endowment.


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the ability of Off-World, Inc. (“OffWorld” or the “Company”) to access sources of capital; its ability to grow market share in the developing space economy; market acceptance of its current and planned products and services and ability to achieve sufficient production volumes. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and OffWorld assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. OffWorld gives no assurance that it will achieve its expectations.


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