Aeva 4D LiDAR Selected by Top U.S. National Defense Security Organization to Help Protect Critical Energy Infrastructure

Rhea-AI Summary

Aeva (NYSE: AEVA), a leader in next-generation sensing and perception systems, has been selected by a top U.S. national defense security organization to help protect critical energy infrastructure sites across the United States. Aeva's 4D LiDAR sensors, based on FMCW technology, will serve as the primary detection sensor for intrusion protection at sensitive locations in various facilities.

Key advantages of Aeva's technology include instant velocity data, immunity to interference, ultra-long range detection, high-density point cloud, and improved immunity to detection. These features enable quick detection of moving objects, reliable performance in challenging lighting conditions, early detection of potential intruders, and enhanced protection against advanced intrusion methods.

Positive

• Selected by top U.S. national defense security organization for critical infrastructure protection
• First deliveries expected later this year
• Technology advantages include instant velocity data, interference immunity, and ultra-long range detection
• Expands application of Aeva's technology beyond automotive and industrial sectors

Negative

• None.

Financial Analyst

The selection of Aeva’s 4D LiDAR technology by a top U.S. national defense security organization represents a significant milestone for the company. This endorsement can potentially lead to new revenue streams and a stronger market position, especially in the defense sector. The defense industry is known for its stringent standards and long-term contracts, which often translate to a steady and predictable revenue flow. This collaboration could also have a halo effect, enhancing Aeva’s reputation and making it more attractive to other high-stakes sectors. Investors should monitor the financial performance in upcoming quarters to assess the contract's impact on revenue and profitability.

Tech Expert

Aeva’s FMCW-based 4D LiDAR technology offers several advantages over traditional 3D time-of-flight LiDAR systems, such as instant velocity data, high-density point cloud, ultra-long-range detection and immunity to interference. These features make it highly suited for critical applications like intrusion detection in sensitive infrastructure. This selection by a national defense organization validates the technology’s superiority and opens doors for further innovations and applications. The robustness of Aeva's technology in various challenging environments can potentially lead to widespread adoption beyond defense, including automotive and industrial sectors.

Market Research Analyst

The defense sector's adoption of Aeva's technology underscores a growing trend of integrating advanced sensing technologies for security and surveillance. As critical infrastructure protection becomes more prioritized, the demand for reliable and advanced sensing solutions like Aeva’s 4D LiDAR is expected to rise. This market trend not only positions Aeva well within the defense sector but could also drive adoption in related fields such as infrastructure security and smart city applications. Market analysts should consider these trends when evaluating Aeva’s market potential and competitive positioning.

Aeva’s Unique FMCW Technology Advantages Including Instant Velocity Data, Long Range and Immunity to Interference Play Key Roles in Selection for Intrusion Detection Sensor System

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced that a top national defense security organization has chosen Aeva’s 4D LiDAR technology to help protect critical energy infrastructure sites across the United States. Aeva’s sensors are expected to be the primary detection sensor to protect sensitive locations in various facilities from intrusion, such as water entries and exits and at perimeter fences, with first deliveries expected later this year.

(Graphic: Business Wire)

Aeva’s 4D LiDAR sensors were selected because of the unique benefits associated with its FMCW-based technology including:

• Instant velocity data for every point – allowing for quick detection of moving objects, whether on the ground or on the surface of water.
• Immunity to interference – critical for ensuring reliable performance when the sun is in the field of view of the sensor, such as during sunrise and sunset.
• Ultra long range – allowing for the early detection of potential intruders at a range of hundreds of meters away from the sensor.
• High-density point cloud – ensuring that the sensor can detect small objects with ease.
• Improved immunity to detection – making the system better protected from would-be intruders using technologies like night vision goggles.

“After evaluating multiple sensing technologies, including 3D time-of-flight LiDAR, this top national defense security organization selected Aeva 4D LiDAR because of our pioneering work in FMCW-based perception technology,” said James Byun, Managing Director of Business Development at Aeva. “This win further validates the growing applications for and unique benefits of Aeva’s technology for some of the most demanding and high-stakes physical security applications, which complement our existing automotive and industrial programs, and we are pleased that our technology is trusted to help protect some of the most sensitive critical infrastructure sites across the country.”

About Aeva Technologies, Inc. (NYSE: AEVA)

Aeva’s mission is to bring the next wave of perception to a broad range of applications from automated driving to industrial robotics, consumer electronics, consumer health, security and beyond. Aeva is transforming autonomy with its groundbreaking sensing and perception technology that integrates all key LiDAR components onto a silicon photonics chip in a compact module. Aeva 4D LiDAR sensors uniquely detect instant velocity in addition to 3D position, allowing autonomous devices like vehicles and robots to make more intelligent and safe decisions. For more information, visit www.aeva.com, or connect with us on X or LinkedIn.

Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners.

Forward looking statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements in this press release include our beliefs regarding our product features, performance and our relationship with a top national defense security organization. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) the fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva’s limited operating history, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the ability for Aeva to have its products selected for inclusion in OEM products and (v) other material risks and other important factors that could affect our financial results. Please refer to our filings with the SEC, including our most recent Form 10-Q and Form 10-K. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240723851336/en/

Media:

Michael Oldenburg

press@aeva.ai



Investors:

Andrew Fung

investors@aeva.ai

Source: Aeva Technologies, Inc.

FAQ

What is the purpose of Aeva's 4D LiDAR technology in the recent contract?

Aeva's 4D LiDAR technology will be used to protect critical energy infrastructure sites across the United States, serving as the primary detection sensor for intrusion protection at sensitive locations in various facilities.

What are the key advantages of Aeva's FMCW-based 4D LiDAR technology?

The key advantages include instant velocity data for every point, immunity to interference, ultra-long range detection, high-density point cloud, and improved immunity to detection.

When are the first deliveries of Aeva's 4D LiDAR sensors expected for this contract?

The first deliveries of Aeva's 4D LiDAR sensors for this contract are expected later this year (2024).

How does Aeva's 4D LiDAR technology (AEVA) compare to traditional 3D time-of-flight LiDAR?

Aeva's 4D LiDAR technology was selected over 3D time-of-flight LiDAR due to its unique benefits associated with FMCW-based technology, including instant velocity data, interference immunity, and ultra-long range detection capabilities.