Circus SE: Memorandum of Understanding concluded in China
Hamburg, June 12, 2024 – Circus SE today signed a Memorandum of Understanding (“MoU”) with Beijing University Food Raw Material Joint Procurement Center for the potential supply of 5,400 Circus Autonomy One (CA-1), Circus Group's self-developed food production robot. The Beijing University Food Raw Material Procurement Center is a Chinese public welfare platform responsible for the procurement of raw materials for the food supply of university canteens at over 90 universities in Beijing.
This would achieve the previously announced plan to enter the Asian market. The MoU is an important intermediate step in the ongoing discussions with potential customers published in the ad hoc announcement of May 14, 2024, and at the same time the first step towards the announced market entry in Asia. This is a non-binding preliminary agreement in which the parties agree on the key terms of the intended collaboration. The next steps are further negotiations and initial product tests at one or more educational institutions in Beijing this year and next. If the tests are successful and final contracts are concluded, significant revenue can be expected in the medium term. The potential revenue from these final contracts could lead to cumulative revenue in the low single-digit billion euro range over a period of several years. The company is currently in talks with other potential customers in various countries.
Contact:
Circus SE
Nikolas Bullwinkel
Founder & CEO
Hongkongstrasse 6
20457 Hamburg
Germany
Email: ir@circus-group.com
