The Indoor Lab Selects Aeva as LiDAR Provider to Transform Safety, Security and Operational Efficiency for Major U.S. Airports and Mass Transit Applications

Rhea-AI Summary

The Indoor Lab has selected Aeva (NYSE: AEVA) as their LiDAR provider for critical infrastructure applications. The multi-year agreement marks Aeva's first industrial customer win for Atlas™ 4D LiDAR sensors, with initial deployments planned at JFK International Airport's New Terminal One and San Francisco International Airport. The sensors will be integrated into The Indoor Lab's LiDAR Overwatch Perception Platform™ to enhance safety, security, and operational efficiency. The technology was chosen for its instant velocity detection, interference immunity, and compact design. Future implementations will include mass transit railways, agriculture, theme parks, and smart city infrastructure across the U.S.

Positive

• First industrial customer win for Atlas product line
• Multi-year agreement secured with major infrastructure analytics provider
• Initial deployments at two major U.S. airports
• Sensor shipments beginning immediately

Negative

• None.

Insights

Tech Expert

This deal marks a significant milestone for Aeva, representing their first industrial customer win for Atlas 4D LiDAR sensors. The multi-year agreement with The Indoor Lab targets high-value infrastructure deployments, starting with major airports like JFK's New Terminal One and SFO. The technology's key differentiators - instant velocity detection and immunity to sunlight interference - position it well against traditional time-of-flight LiDAR solutions.

The partnership opens up substantial revenue potential across multiple sectors including airports, mass transit, agriculture and smart infrastructure. For Aeva, securing a foothold in critical infrastructure through The Indoor Lab's established platform significantly de-risks their commercial expansion beyond automotive applications. The immediate commencement of sensor shipments indicates strong near-term revenue recognition potential.

The Indoor Lab Transitions to 4D LiDAR with Initial Planned Deployments at John F. Kennedy International Airport’s New Terminal One and San Francisco International Airport, Along with Mass Transit, Agriculture, and Smart Infrastructure Integrations

SAN JUAN CAPISTRANO, Calif. & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- The Indoor Lab, a world leader in LiDAR perception and analytics solutions, and Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced that Aeva has been selected to provide LiDAR for The Indoor Lab’s LiDAR analytics platform used to improve safety, security and operational efficiency at major U.S. airports, mass transit railways, agriculture, and in smart infrastructure at theme parks, cities, and other large venues across the U.S.

(Graphic: Business Wire)

Under the agreement, Aeva Atlas™ 4D LiDAR sensors will be integrated into The Indoor Lab’s LiDAR Overwatch Perception Platform™ that is the key driver to its Enterprise Analytics Suite for Critical Infrastructure to provide data for round-the-clock AI-powered analytics to monitor and manage indoor and outdoor environments. Aeva’s technology will be leveraged for its instant velocity detection, immunity to interference, and compact form factor. The Indoor Lab is the leading hardware agnostic perception platform for protecting America’s critical infrastructure. The multi-year agreement represents Aeva’s first industrial customer win for Atlas, with sensor shipments beginning this month for The Indoor Lab’s initially planned customer deployments.

“We have evaluated nearly all time-of-flight 3D LiDAR technologies on the market today and selected Aeva because we see significant advantages in its 4D LiDAR technology,” said Patrick Blattner, Founder and CEO of The Indoor Lab. “Importantly, Aeva is the first to commercialize 4D LiDAR for production at scale and its technology brings crucial advantages to our analytics platform, including the addition of instant velocity data and the inherent immunity to sunlight interference. By selecting Aeva, we have future-proofed our perception analytics platform for critical infrastructure throughout the U.S. and will be able to provide the most comprehensive and advanced solutions for our customers at scale.”

Together with The Indoor Lab, Aeva’s 4D LiDAR technology is initially planned to be implemented at some of the nation’s largest and most heavily trafficked airports, including John F. Kennedy International Airport’s New Terminal One and San Francisco International Airport, followed by undisclosed integrations in agriculture, and in smart infrastructure at theme parks, cities, and other large venues across the U.S.

“Aeva is seeing significant momentum in the market following recent wins in automotive and industrial including our recent selection by a top national defense security organization,” said James Byun, Managing Director of Business Development at Aeva. “This key production win with The Indoor Lab solidifies Aeva’s position in the industrial market as the go-to lidar supplier of choice when performance and scalability matter. The Indoor Lab is a leader in LiDAR-based perception analytics and is expanding deployments rapidly at large venues and critical infrastructure sites across the U.S. Our unique FMCW technology will allow The Indoor Lab to deliver high-performance sensing at scale across a wide variety of indoor and outdoor customer use cases to enable improved safety, security and efficiency.”

About The Indoor Lab

The Indoor Lab is a privately held, wholly owned U.S. company and the only company in the world with a complete lidar-based enterprise perception platform. Founded by leaders in the queuing and flow analytics space, with over 15 years of experience in passive analytics and 10 years in lidar, The Indoor Lab has been at the forefront of innovative solutions for some of the largest airports and brands globally. The Indoor Lab strives to be at the cutting edge of innovation, continually advancing its perception software capabilities and fostering collaboration across industries and disciplines. By leveraging cutting-edge technologies such as lidar, we aim to enhance safety, promote environmental sustainability, and empower communities to thrive in an ever-evolving global landscape.

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 features and performance of our products, our relationship with The Indoor Lab, planned deployments of their analytics platform, including timing. 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 and limited history of shipping significant product volumes, (iii) the ability to implement business plans, forecasts, and other expectations, (iv) unforeseen difficulties or delays in shipping, manufacturing or installation, (v) the need to conclude definitive deployment agreements with potential end customers, including those mentioned in this release, (vi) unforeseen project delays, (vii) end customer acceptance of the platform, and (viii) other material risks and other important factors that could affect our financial results that are further described in our filings with the SEC. 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/20241023988895/en/

Media:

Michael Oldenburg

press@aeva.ai



Investors:

Andrew Fung

investors@aeva.ai

Source: Aeva Technologies, Inc.

FAQ

What are the initial deployment locations for Aeva's LiDAR technology with The Indoor Lab?

The initial deployments are planned at John F. Kennedy International Airport's New Terminal One and San Francisco International Airport.

What are the key features of Aeva's 4D LiDAR technology that led to its selection by The Indoor Lab?

The key features include instant velocity detection, immunity to sunlight interference, and a compact form factor.

When will Aeva (AEVA) begin shipping sensors to The Indoor Lab?

Sensor shipments are beginning in the same month as the announcement (October 2023).

What applications will The Indoor Lab use Aeva's LiDAR technology for?

The technology will be used for safety, security, and operational efficiency in airports, mass transit railways, agriculture, theme parks, and smart city infrastructure.