Cepton’s Nova Lidar Named “Automotive Sensor Hardware Solution of the Year” by AutoTech Breakthrough

Rhea-AI Summary

Cepton (NASDAQ: CPTN) has been recognized as a leading innovator in the automotive technology sector by receiving the 'Automotive Sensor Hardware Solution of the Year' award for its Nova Lidar at the AutoTech Breakthrough Awards. The Nova Lidar enhances vehicle safety and supports autonomous driving capabilities with its compact design and low power consumption. This recognition highlights Cepton's contribution to improving near-range sensor technology, positioning the company alongside other industry giants like BMW and TOYOTA.

Positive

• Awarded 'Automotive Sensor Hardware Solution of the Year' for Nova Lidar.
• Nova Lidar enhances vehicle safety and supports Levels 3 and 4 autonomy.
• Recognized alongside top industry players like BMW, TOYOTA, and Lyft.

Negative

• None.

Cepton joins BMW, TOYOTA and LYFT as featured innovators in third annual AutoTech Breakthrough Awards program recognizing advancements in automotive and transportation technologies

SAN JOSE, Calif.--(BUSINESS WIRE)-- Cepton, Inc. (“Cepton”) (Nasdaq: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, today announced its Nova Lidar has been selected as “Automotive Sensor Hardware Solution of the Year” in the third annual AutoTech Breakthrough Awards program.

(Graphic: Business Wire)

AutoTech Breakthrough is a leading market intelligence organization recognizes top companies, technologies and products in the global automotive and transportation technology markets today. This year, Cepton has been featured by the awards program as a key innovator in the automotive industry, along with other leading companies such as BMW, TOYOTA, LYFT, Otonomo and Nexteer.

Cepton’s award-winning Nova Lidar is a miniature, near-range lidar sensor designed to help dramatically enhance vehicle safety and enable Levels 3 and 4 autonomous driving capabilities. With superior 3D imaging, it addresses critical gaps with other near-range sensor technologies to help minimize perception blind spots in the immediate surroundings of a vehicle. Nova’s automotive-grade reliability, small form factor and low power consumption make it ideal for everyday passenger cars, including EVs.

Nova can be seamlessly embedded in locations traditionally difficult to access, including the side mirror, tailgate, front grille, rear bumper and headlamp. Its flexible placement options, combined with its unparalleled field of view coverage and high resolution, enable accurate detection of smaller targets, such as children, on-road objects and curbs, to reduce false negatives and false positives.

“We are thrilled to be singled out by AutoTech Breakthrough for this amazing recognition,” said Cepton VP of Product Brunno Moretti. “At Cepton, we believe safe autonomy should be accessible to everyone. Nova was designed to enable substantial advancements in the automotive industry and increase vehicle safety across different levels of autonomy. Powered by Cepton’s patented lidar technologies, Nova possesses the versatility needed for scalable deployment in various applications, from ADAS to autonomous driving, from trucking to mobile robotics. We are confident that Nova will fundamentally change the game for near-range sensing in autonomous mobility.”

“A key challenge for current near-range sensor technologies is that they struggle to provide the accuracy and coverage needed without disrupting the vehicle’s appearance and significantly increasing its power consumption,” said Bryan Vaughn, Managing Director of AutoTech Breakthrough Awards. “Nova addresses this challenge by enabling a virtual safety belt around the car in an elegant, discrete manner. Its extremely compact size and its minimalist design align well with the aesthetic trends in the automotive industry. Congratulations on being our choice for ‘Automotive Sensor Hardware Solution of the Year.’”

The mission of the annual AutoTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of automotive and transportation technology categories, including Connected Car, Electric Vehicles, Engine Tech, Automotive CyberSecurity, Sensor Technology, Traffic Tech and many more. This year's program attracted more than 1,500 nominations from over 15 different countries throughout the world.

About Cepton, Inc.

Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (ADAS/AV), smart cities, smart spaces and smart industrial applications. With its patented lidar technology, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D perception solutions across industries.

Cepton has been awarded a significant ADAS lidar series production award with Koito on the General Motors business. Cepton is engaged with all Top 10 global OEMs.

Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high performance, high quality lidar solutions. Cepton is headquartered in San Jose, CA and has a center of excellence facility in Troy, MI to provide local support to automotive customers in the Metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information, visit www.cepton.com and follow Cepton on Twitter and LinkedIn.

About AutoTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AutoTech Breakthrough Awards program is devoted to honoring excellence in automotive and transportation technologies, services, companies and products around the world. The AutoTech Breakthrough Awards program provides a forum for public recognition around the achievements of AutoTech companies and solutions in categories including Connected Car, Electric Vehicles, Engine Tech, Automotive CyberSecurity, Sensor Technology, Traffic Tech, Vehicle Telematics and more. For more information visit AutoTechBreakthrough.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20221013005998/en/

Cepton Contacts

Media: Faithy Li, media@cepton.com

Source: Cepton, Inc.

FAQ

What award did Cepton (CPTN) win at the AutoTech Breakthrough Awards?

Cepton won the 'Automotive Sensor Hardware Solution of the Year' award for its Nova Lidar.

How does the Nova Lidar contribute to vehicle safety?

The Nova Lidar enhances vehicle safety by providing superior 3D imaging and reducing perception blind spots.

Who are the other innovators featured alongside Cepton at the AutoTech Breakthrough Awards?

Cepton was featured alongside industry leaders such as BMW, TOYOTA, and Lyft.

What is the significance of the AutoTech Breakthrough Awards?

The AutoTech Breakthrough Awards recognize top companies and technologies in the automotive and transportation sectors.