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AECOM and Cavnue announce partnership to deliver connected and automated vehicle corridor in Michigan
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
AECOM (NYSE: ACM) has partnered with Cavnue to create a Connected and Automated Vehicle (CAV) Corridor in Southeast Michigan. The collaboration includes engineering planning and design services for CAV lanes, expanding to other areas across North America. The project aligns with AECOM's Sustainable Legacies strategy, focusing on enhancing social outcomes while reducing carbon impact. Cavnue aims to simplify the driving environment for autonomous vehicles using integrated technology. The Michigan Department of Transportation is also involved to leverage insights for roadway management.
Positive
Partnership with Cavnue to develop innovative CAV infrastructure.
Alignment with AECOM's ESG strategy, enhancing social and environmental outcomes.
Contract includes extensive engineering planning and design services for CAV lanes.
Negative
None.
DALLAS--(BUSINESS WIRE)--
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced its partnership with Cavnue to deliver a Connected and Automated Vehicle (CAV) Corridor in Southeast Michigan. AECOM will provide engineering planning and design services beginning with a CAV lane project in Michigan and expanding to other locations across North America. The partnership will also deliver Concept of Operations, environmental documentation, conceptual and final design on several major roadways in the state.
“Core to AECOM’s ESG strategy, Sustainable Legacies, is delivering solutions that will improve social outcomes and reduce carbon impacts on the planet. This partnership will advance transportation in a way that’s sustainable, smarter and safer for generations to come in Michigan,” said Jennifer Aument, AECOM’s global Transportation Chief Executive. “We believe in Cavnue’s vision to unlock the potential in connected and automated travel and we’re thrilled to work together to create this future for the automated transportation industry and the communities that will benefit from it.”
In Michigan, Cavnue is integrating a first-of-its-kind roadway infrastructure stack with a unique hardware and software product to simplify the operating environment for all vehicles and to provide more information to vehicles about the road ahead, both of which unlock the powerful benefits of in-vehicle technology. Cavnue, AECOM and the Michigan Department of Transportation (MDOT) are also working closely to utilize this system to provide unique insights back to those that operate and manage roadways.
“Smart cars need smart roads. Cavnue’s mission is to simplify and enhance the driving environment to unlock the full potential of all autonomous vehicles. We were drawn to AECOM’s expertise in innovative and groundbreaking projects, as well as their leadership in transportation and the automated vehicles sector,” said Tyler Duvall, Cavnue’s Co-Founder and Chief Executive Officer. “We’re excited to begin work in Michigan together and develop the solutions that will be the blueprint for the next generation of roadways.”
“This represents another stride for the mobility revolution as well as for MDOT and the State of Michigan’s continued leadership,” said Paul C. Ajegba, Michigan Department of Transportation Director. “We look forward to further innovations from this first-of-its-kind project.”
AECOM is committed to delivering its transformative environmental, social and governance (ESG) objectives through its Sustainable Legacies strategy, ensuring the work it does in partnership with clients leaves a positive impact for years to come.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.2 billion in fiscal year 2020. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
About Cavnue
Cavnue is an infrastructure technology company founded to build the world’s most advanced roads and unlock the full potential of autonomous vehicles. Our solutions integrate a roadway infrastructure stack with a unique hardware + software product to simplify the operating environment for all vehicles and to provide more information to vehicles about the road ahead. For road operators, Cavnue’s digital twin will provide unique insights on asset management, throughput, safety, and accessibility.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the Power transaction and other recent acquisitions and divestitures, including the risk that the expected benefits of such transactions or any contingent purchase price will not be realized within the expected time frame, in full or at all; the risk that costs of restructuring transactions and other costs incurred in connection with recent acquisitions and divestitures will exceed our estimates or otherwise adversely affect our business or operations; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
