Element Group buys 51% of robot maker Android Technics

CHELYABINSK. July 21 (Interfax) - JSC Robot Corporation, a division of Russian microelectronics manufacturer Element Group , has acquired a 51% stake in JSC SPA Android Technics (SPA AT), the developer of the FEDOR humanoid robot that went to space in August-September 2019, business daily Vedomosti reported, citing an Element spokesman.

The company will be the first major asset in the group's new robotics division. The parties did not disclose the price of the deal.

Android Technics executive director Yevgeny Dudorov will join Robot Corporation's management as the new division's executive director for R&D.

Dudorov confirmed that Android Technics management will retain 49% of the company, Vedomosti said.

One of Robot Corporation's first priority projects will be to develop production of electric motors and servo motors for industrial robotics, metal processing equipment and production automation systems, the Element spokesman said. The operational base will be Android Technics' production facilities in Magnitogorsk.

Android Technics, which was founded in 2009, has developed more than 150 robotic systems in the healthcare, education and space sectors in the past 15 years, the company's website said. The company has 200 professionals on its team (average age 36 years) and its key partners are the Advanced Research Foundation, Roscosmos and Rosatom, the website said.

Android Technics has been implementing a digital transformation program since 2020. The company does not disclose its beneficiaries.

Element Group was formed in 2019 with assets belonging to investment group Sistema PJSFC and state corporation Rostec. The group now includes more than 30 enterprises, including leading Russian chip maker Mikron.

Element carried out an initial public offering on the SPB Exchange in May 2024 and obtained a secondary listing on the Moscow Exchange in June. The company's free float was 11.21% as of December 31, 2024.