SHERIDAN, WYOMING – April 20, 2025 - Kodiak Robotics sets sights on public markets in landmark deal
Kodiak Robotics, a trailblazer in autonomous trucking technology, is taking a major step forward on its path to revolutionizing the logistics industry. The company has announced a definitive business combination agreement with Ares Acquisition Corporation (AACT), a publicly traded special-purpose acquisition company and affiliate of Ares Management Corporation. This move will transition Kodiak into a publicly listed company with a pre-money equity valuation of approximately US$2.5 billion.
Pioneering innovation in autonomous freight transport
A single-platform approach with real-world results
At the core of Kodiak’s technology is the Kodiak Driver, an AI-powered autonomous driving system that combines cutting-edge software with modular hardware. With over 2.6 million autonomous miles driven in real-world conditions, Kodiak is already delivering goods daily across the U.S. and generating recurring revenue through driverless operations in the Permian Basin. The company recently secured a firm commitment for an initial order of 100 trucks from its strategic partner, Atlas Energy Solutions.
Designed for flexibility and scalability
Kodiak’s platform integrates seamlessly into customers’ existing operations, offering a Driver-as-a-Service model that is both scalable and tailored to meet the specific demands of commercial trucking. The system continuously improves through operational experience, enhancing reliability, efficiency, and safety in challenging environments.
Strategic move to scale growth and partnerships
A leap toward a $4 trillion opportunity
By entering the public markets, Kodiak aims to accelerate its go-to-market strategy and tap into an estimated US$4+ trillion global market opportunity. According to Kodiak founder Don Burnette, “This is a remarkable milestone for the Kodiak team and reinforces our confidence in the significant value proposition we see in our differentiated driverless technology.”
Burnette continued, “We believe entering the public markets will accelerate our strategy to expand our existing partner relationships, provide our technology to a broader customer base and deliver enhanced solutions across the commercial trucking and public-sector industries. Further, with Kodiak’s disciplined approach to capital management, along with strategic and financial support from Ares, we believe we are well positioned to execute on our long-term growth plans. On behalf of the entire Kodiak team, we are thrilled to be working with Ares and AACT as we continue to drive our mission to create a safer and more efficient future for the trucking industry.”
Industry leaders express confidence in Kodiak’s future
David Kaplan, CEO and co-chairman of AACT and co-founder of Ares, added, “As an early mover in autonomous trucking and first to deliver a commercial driverless product to a customer, Kodiak has quickly set itself apart as an industry leader in a significant addressable market. We are excited to partner with Don and the Kodiak team as they seek to further capitalize on significant industry tailwinds and deliver value for their stakeholders.”
Allyson Satin, COO of AACT and a partner at Ares, echoed the sentiment: “We believe Kodiak’s scalable technology, combined with its established network, position the company to meet the evolving and growing demands of its customers and communities. We look forward to lending Ares’ decades of experience investing and navigating through dynamic market environments in support of Kodiak’s long-term goals.”
Discover more about Kodiak’s autonomous future
To learn more, visit the official Kodiak Robotics website: https://kodiak.ai