Stewart & Stevenson Signs Exclusive License Agreement with Rice University for ApolloBVM Ventilator Production

HOUSTON, April 22, 2020 (GLOBE NEWSWIRE) -- Stewart & Stevenson (“S&S”), a subsidiary of Kirby Corporation (“Kirby”) (NYSE: KEX), and Rice University announced today the signing of an exclusive licensing agreement to produce an advanced version of the ApolloBVM ventilator.

The ApolloBVM ventilator is an emergency device intended to help patients breathe during first response situations or when traditional, more complex ventilators are not available. The programmable device is designed to operate a common bag valve mask for extended periods of time while patients await the availability of a traditional ventilator.

Joe Reniers, President of Kirby Distribution and Services commented, “We are pleased to announce the exclusive license agreement for an advanced version of the ApolloBVM ventilator. This agreement combines the strengths of S&S’s engineering, high-volume manufacturing and global distribution capabilities with the outstanding work by the ventilator development team at Rice’s Oshman Engineering Design Kitchen (OEDK). It is our expectation that the ApolloBVM ventilator advancements that have been jointly developed will not only respond to the critical health care device needs associated with the COVID-19 pandemic but will also provide a sturdy and portable system that can be rapidly deployed to the frontlines during other emergency response situations.”

S&S has applied for an emergency use authorization for the device from the United States Food and Drug Administration.  

“I am thrilled that the hard work by the OEDK team, in the midst of the COVID-19 pandemic, has resulted in this agreement with S&S,” said OEDK Director Maria Oden, also a teaching professor of bioengineering and co-director of the Rice 360˚ Institute for Global Health. “They have the ability to produce the ApolloBVM at scale, providing emergency ventilation needs during this crisis and beyond.”

S&S, a subsidiary of Houston-based Kirby Corporation and founded in 1902, is focused on manufacturing, power generation, rental solutions and aftermarket support for global oil and gas, marine, construction, transportation, government, mining, health care and agricultural markets. S&S, composed of Manufacturing Technologies, Power Products, Atlantic Detroit Diesel-Allison, Florida Detroit Diesel-Allison, S&S Colombia, Healthcare Technologies and Power Rental, serves customers worldwide from 43 U.S. and international locations.

Contact:

Chad Joost

281-345-5151