In the news release, Addverb Releases 2023 Sustainability Report Detailing Company's Journey towards Technological Ecology, issued 30-Apr-2024 by Addverb over PR Newswire, we are advised by the company that December 3st, 2023 should read as December 31st, 2023 in the first paragraph, as originally issued inadvertently. The complete, corrected release follows:

Addverb Releases 2023 Sustainability Report Detailing Company's Journey towards Technological Ecology

Successfully achieving the FY22-23 Extended Producer Responsibility (EPR) target of 3 metric tonnes
Fulfilled 17% of energy demand from renewable sources in CY 2023
Improvement of the power factor from 0.88 to 0.99 over two years

NOIDA, India, April 30, 2024 /PRNewswire/ -- Addverb, a global leader in robotics and automation, releases its first Sustainability Report titled 'Technological Ecology'. The report is produced in accordance with GRI Universal Standards and incorporates Environment, Social, and Governance (ESG) factors underscoring Addverb's unwavering dedication to sustainability and commitment. Reporting initiatives from January 1st to December 31st, 2023, the report showcases Addverb's commitment to Technological Ecology, aiming to reduce ecological impact while contributing to the planet's well-being.

The report can be accessed on the Company's website.

Commenting on the release of the report, Mr. Sangeet Kumar, Co-founder and CEO, Addverb said, "Addverb harnesses solar energy, employs energy-efficient machinery, and integrates lean manufacturing practices to reduce Greenhouse gas (GHG) emissions and promote responsible power consumption. Our vision extends beyond product creation to embedding sustainability throughout our designs and manufacturing processes, focusing on ecological balance and technological advancements."

Addverb is committed to mitigating environmental impact through proactive measures and innovation, including strategic tree-planting initiatives, green belt cultivation for ecological restoration, sustainable water management practices with a focus on groundwater recharge, and fostering an inclusive workplace environment through Diversity, Equity, and Inclusion (DEI) initiatives.

Addverb, through this report, reflects its unwavering dedication to sustainability, innovation, and responsible business practices. By prioritising environmental stewardship and social responsibility, the company continues to pave the way for a greener and a more sustainable future.

About Addverb

Founded in 2016, Addverb offers end-to-end robotics solutions for warehouses and industrial automation. Addverb is based in India, with R&D facilities in India and the US, and subsidiaries worldwide, including Australia, Singapore, the Netherlands, and the US. Its fleet of automated robots and material handling technologies, along with in-house system integration and software solutions, enhances warehouse operations' efficiency and accuracy.

Addverb provides tailored automation solutions, with its self-manufactured products, and a wide range portfolio consisting of Autonomous Mobile Robots, Sorting Robots, Automated Storage and Retrieval Systems, and Picking Technologies, fuelled by enterprise software; with a range of 350+ customers like Coca-Cola, PepsiCo, Unilever, Reliance, DHL, Amazon, ITC to name a few.

For more information visit: www.addverb.com or connect on automate@addverb.com.

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