b'Presidio Ventures Invests in Outrider for Expansionof Autonomous Yard Truck TechnologiesOutriders fullyautonomous system dynamically adapts to changes occurringin the yard, such as interactingwith over-the-road semi-trucks,The only company exclusively focused on automating all aspectsdelivery vehicles, service vehicles,of yard operations, Outrider works with logistics-dependent enter- and integrates with supply chainprises to eliminate manual tasks that are hazardous and repetitive.management systems. Outriders mission is to drive the rapid adoption of sustainable freight transportation by deploying zero-emission systems, with its customers representing over 20 percent of all yard trucks operat-ing in North America.To autonomously move semi-trailers, the Outrider System Outrider will use this funding to expand its proprietary autonomyseamlessly works with how large distribution hubs operate today. and safety technology portfolio, increase hiring domestically andOutriders fully autonomous system dynamically adapts to chang-internationally, and scale its yard automation solution with largees occurring in the yard, such as interacting with over-the-road customers in package shipping, retail, eCommerce, consumersemi-trucks, delivery vehicles, service vehicles, and integrates packaged goods, grocery, manufacturing, and intermodal indus- with supply chain management systems. At the center of the tries. Outriders customers, representing more than 20% of allOutrider System is the autonomous yard truck, which hitches to yard trucks operating in N. America, have invested in joint productand unhitches from trailers, robotically connects and disconnects testing and pilot operations since 2019. trailer brake lines, backs semi-trailers with precision, interacts safely with loading docks, and keeps track of trailer locations Presidio Ventures Senior Director Seth Nishida believes Outrid- throughout the yard.er understands that Sumitomo is a strong partner to developOutriders technology also helps its customers and stakeholders business opportunities because Sumitomos integrated corporateachieve their sustainability goals. Instead of automating legacy strength provides a network of potential customers in variousdiesel vehicles, Outrider automates electric vehicles to reduce industries. fossil fuel use, lower energy and maintenance costs, and reduce Outrider felt the values of Presidio Ventures as a strategicemissions. Outriders Series C financing will further accelerate its investor supporting the venture ecosystem for twenty-five yearswork with EV yard truck manufacturers to maximize the benefits and understanding its dynamics, as well as bringing in potentialof automation and electrification for customers and the commu-business partners, he said.nities around large logistics hubs.Sumitomo Corporation of Americas 9'