Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) stock was surging today on news of an interesting deal with Ford Motor Company (NYSE:F).
The deal has Ekso Bionics Holdings, Inc. providing Ford with exoskeletons for their workers to use. These exoskeletons are for the upper half of the body and provide support to employees that have to handle overhead work during vehicle assembly.
The exoskeleton from Ekso Bionics Holdings, Inc. that offers this support is the EksoVest. The purpose of this vest is to reduce the amount of fatigue and strain that Ford employees experience when doing overhead work. It will also hopefully reduce injuries as well.
The EksoVest is lightweight and isn’t bulky. It’s design allows it to be worn by people than range from five feet to six feet four inches in height. It can provide between five pounds and 15 pounds of lifting support to each of the wearer’s arms.
Ford is testing out the EksoVest at its factories and is getting input from its workers about how well it helps to do their job and reduce fatigue. The test are taking place at two plants and there are plans to expand this to more locations.
“My job entails working over my head, so when I get home my back, neck and shoulders usually hurt,” Paul Collins, an assembly line worker at Ford’s Michigan Assembly Plant, said in a statement. “Since I started using the vest, I’m not as sore, and I have more energy to play with my grandsons when I get home.”
EKSO stock was up 25% as of noon Friday, but is down 68% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.