U.S. Steel announces investment in Freespace Robotics, terms undisclosed

U.S. Steel announced an investment in Freespace Robotics, a manufacturer of robotic storage and retrieval systems that are in demand by warehouses worldwide. This investment will help Freespace hire and retain local talent as well as recruit others into the region. Freespace Robotics manufactures an autonomous storage system that leverages robots to store and retrieve goods in ways that are new to market. For example, its robots can handle multiple goods at once, more sizes of goods, and can store and retrieve goods in a single action. The company will use U. S. Steel’s investment to execute on pilot programs, establish its manufacturing presence in the region and scale up its team. As part of this investment, U. S. Steel’s director of strategy and corporate development, Jim Cook, will join the Freespace Robotics board of directors. Additional terms of the deal were not disclosed.