U.S. Department of Transportation Secretary Pete Buttigieg Visits Deployment of Velodyne Lidar’s Intelligent Infrastructure Solution at Morgan State

Rhea-AI Summary

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) showcased its Intelligent Infrastructure Solution (IIS) during a visit from U.S. Transportation Secretary Pete Buttigieg in San Jose, California. The IIS aims to enhance transportation safety and efficiency through advanced lidar technology. Secretary Buttigieg highlighted the program's role in future infrastructure investments under the Bipartisan Infrastructure Law. Velodyne's IIS, featuring sensors and AI software from Bluecity, is deployed globally and aims to address critical road safety issues, especially for vulnerable communities.

Positive

• U.S. Department of Transportation Secretary visited Velodyne's IIS, indicating governmental interest and support.
• IIS deployment featured in a prominent infrastructure investment event, enhancing brand visibility.
• The solution has won accolades like the 2022 SXSW Innovation Awards, boosting company credibility.

Negative

• None.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) announced U.S. Department of Transportation Secretary Pete Buttigieg visited a deployment of Velodyne’s Intelligent Infrastructure Solution (IIS) in a tour to highlight the Department’s investments in infrastructure. The projects he reviewed, which includes Velodyne’s IIS, play a key role in what he said is the future of transportation infrastructure.

U.S. Department of Transportation Secretary Pete Buttigieg visited a deployment of Velodyne Lidar’s Intelligent Infrastructure Solution in a tour to highlight the Department’s investments in infrastructure. The full stack solution combines Velodyne’s award-winning lidar sensors and Bluecity’s AI software. (Photo: Velodyne Lidar)

Morgan State University, a historically Black college in Baltimore, hosted U.S. Transportation Secretary Pete Buttigieg for a campus visit and tour of its National Transportation Center lab. Velodyne’s IIS was a featured part of the Secretary’s tour in the University’s Urban Mobility and Equity Center. Secretary Buttigieg reviewed various sensor outputs generated by Velodyne’s Ultra Puck and discussed potential IIS applications with Morgan State students. The solution, deployed in partnership with Bluecity and Iteris, is installed at one of the main intersections into the university to collect traffic data and safety analytics.

The U.S. Department of Transportation’s work implementing new infrastructure programs means more investment by the public sector into the latest transportation technologies. New programs under the Bipartisan Infrastructure Law – like the Safe Streets and Roads for All and SMART grant program – will advance safety, equity and sustainability on our roads.

Buttigieg said, “We're living through a period of extraordinary change in technology, some of the technologies that are being developed and managed right here.”

“We are seeing our solution in action across the globe, providing real-time data and analytics on things like near-misses and vulnerable road user activity,” said Sally Frykman, Chief Marketing Officer, Velodyne Lidar. “With pedestrian fatalities at an all-time high and disproportionately represented across disadvantaged communities, reliable and high performing technology can bring much needed safety to the underserved.”

About Intelligent Infrastructure Solution

Intelligent Infrastructure Solution delivers traffic monitoring and analytics to improve road safety, efficiency and air quality, and help cities plan for smarter, safer transportation systems. The full stack solution, combining Velodyne’s award-winning lidar sensors and Bluecity’s AI software, is deployed across three continents, including systems rolled out in Texas, Florida, Nevada, California, New Jersey, Missouri and Canada.

By improving traffic flow and reducing congestion, Intelligent Infrastructure Solution advances energy efficiency and reduces greenhouse gas emissions for a more sustainable future. Recently, the solution won the 2022 SXSW Innovation Awards by the South by Southwest Conference and Festivals. In 2021, Intelligent Infrastructure Solution received a Smart 50 Award presented by Smart Cities Connect to honor the 50 most transformative smart cities projects in the world.

For more information on the Intelligent Infrastructure Solution, contact Velodyne Sales: 669.275.2526, sales@velodyne.com.

About Velodyne Lidar

Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne, the global leader in lidar, is known for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality, and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems (ADAS), robotics, unmanned aerial vehicles (UAV), smart cities and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all. For more information, visit www.velodynelidar.com.

Forward Looking Statements

This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, and competition. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," “can,” "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Velodyne's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include uncertainties regarding government regulation and adoption of lidar, the uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; uncertainties related to the ability of Velodyne's customers to commercialize their products and the ultimate market acceptance of these products; the rate and degree of market acceptance of Velodyne's products; the success of other competing lidar and sensor-related products and services that exist or may become available; uncertainties related to Velodyne's current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne's intellectual property; and general economic and market conditions impacting demand for Velodyne's products and services. For more information about risks and uncertainties associated with Velodyne’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Velodyne’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. All forward-looking statements in this press release are based on information available to Velodyne as of the date hereof, Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220503005353/en/

Velodyne Investor Relations

InvestorRelations@velodyne.com

Media

Codeword

Liv Allen

velodyne@codewordagency.com

Source: Velodyne Lidar

FAQ

What is the Intelligent Infrastructure Solution by Velodyne Lidar?

The Intelligent Infrastructure Solution (IIS) by Velodyne Lidar combines lidar sensors and AI software to enhance road safety and efficiency through traffic monitoring and analytics.

What role did U.S. Secretary Pete Buttigieg play in Velodyne's recent press release?

Secretary Pete Buttigieg visited Velodyne's deployment of the Intelligent Infrastructure Solution to emphasize the importance of new technologies in U.S. transportation infrastructure.

How does Velodyne Lidar's IIS impact transportation safety?

The IIS provides real-time data and analytics on traffic conditions, aiming to improve road safety, especially for vulnerable road users in underserved communities.

What recognition has Velodyne Lidar received for its Intelligent Infrastructure Solution?

Velodyne's Intelligent Infrastructure Solution won the 2022 SXSW Innovation Awards and the 2021 Smart 50 Award for its transformative impact on smart city projects.

Which locations are implementing Velodyne's Intelligent Infrastructure Solution?

The Intelligent Infrastructure Solution is deployed across multiple locations, including Texas, Florida, Nevada, California, New Jersey, Missouri, and Canada.