Cyngn Completes First Paid DriveMod Forklift Deployment at Customer Facility
Cyngn has announced the successful completion of its first paid autonomous DriveMod Forklift deployment at a customer facility. This milestone marks a significant step in the commercialization of Cyngn's Enterprise Autonomy Suite (EAS) portfolio. The DriveMod Forklift, equipped with advanced safety systems and AI-powered computer vision, can handle loads over 10,000 lbs and navigate dynamic environments autonomously.
Ben Landen, VP of Business Development at Cyngn, highlighted the forklift's ability to autonomously complete entire material moving processes without human intervention. The company is now preparing to build and sell additional units, with integration into the customer's operations targeted for the first half of 2025. This achievement follows a series of developments, including a contract with a building materials manufacturer in 2022 and a pre-order of 100 DriveMod Forklifts from Arauco in 2023.
Cyngn ha annunciato il successo del primo deployment a pagamento del suo carrello elevatore autonomo DriveMod presso una struttura cliente. Questo traguardo segna un passo significativo nella commercializzazione del portafoglio Enterprise Autonomy Suite (EAS) di Cyngn. Il carrello elevatore DriveMod, dotato di sistemi di sicurezza avanzati e visione computazionale potenziata dall'IA, è in grado di gestire carichi superiori a 10.000 libbre e di navigare autonomamente in ambienti dinamici.
Ben Landen, VP dello Sviluppo Commerciale presso Cyngn, ha sottolineato la capacità del carrello elevatore di completare autonomamente interi processi di movimentazione dei materiali senza intervento umano. L'azienda si sta ora preparando a costruire e vendere ulteriori unità, con l'integrazione nelle operazioni del cliente prevista per la prima metà del 2025. Questo risultato segue una serie di sviluppi, tra cui un contratto con un produttore di materiali da costruzione nel 2022 e un pre-ordine di 100 carrelli elevatori DriveMod da Arauco nel 2023.
Cyngn ha anunciado la finalización exitosa de su primer despliegue pagado del montacargas autónomo DriveMod en una instalación cliente. Este hito marca un paso significativo en la comercialización de la suite Enterprise Autonomy Suite (EAS) de Cyngn. El montacargas DriveMod, equipado con sistemas de seguridad avanzados y visión computacional impulsada por IA, puede manejar cargas superiores a 10,000 lbs y navegar en entornos dinámicos de manera autónoma.
Ben Landen, VP de Desarrollo Comercial en Cyngn, destacó la capacidad del montacargas para completar de manera autónoma todo el proceso de movimiento de materiales sin intervención humana. La compañía ahora se está preparando para construir y vender unidades adicionales, con la integración en las operaciones del cliente programada para la primera mitad de 2025. Este logro sigue a una serie de desarrollos, incluida un contrato con un fabricante de materiales de construcción en 2022 y una preorden de 100 montacargas DriveMod de Arauco en 2023.
Cyngn은 자사의 첫 유료 자율 드라이브모드 포크리프트 배치의 성공적인 완료를 고객 시설에서 알렸습니다. 이 이정표는 Cyngn의 기업 자율성 스위트(EAS) 포트폴리오 상업화의 중요한 단계로 자리 잡습니다. 드라이브모드 포크리프트는 고급 안전 시스템과 AI 기반 컴퓨터 비전으로 장착되어 있으며, 10,000파운드 이상의 하중을 처리하고 동적인 환경을 자율적으로 탐색할 수 있습니다.
Ben Landen, Cyngn의 사업 개발 부사장은 포크리프트가 인간의 개입 없이 전체 자재 이동 프로세스를 자율적으로 완료할 수 있는 능력을 강조했습니다. 이 회사는 이제 추가 유닛을 제조 및 판매할 준비를 하고 있으며, 고객 운영에의 통합은 2025년 상반기를 목표로 하고 있습니다. 이 성과는 2022년 건축 자재 제조업체와의 계약 및 2023년 Arauco에서의 100대 드라이브모드 포크리프트 예약 주문을 포함한 일련의 개발에 뒤이은 것입니다.
Cyngn a annoncé la réussite du déploiement payant de son premier chariot élévateur autonome DriveMod dans les locaux d'un client. Cette étape marque un point significatif dans la commercialisation du portefeuille Enterprise Autonomy Suite (EAS) de Cyngn. Le chariot élévateur DriveMod, équipé de systèmes de sécurité avancés et de vision par ordinateur alimentée par IA, peut gérer des charges supérieures à 10 000 lbs et naviguer de manière autonome dans des environnements dynamiques.
Ben Landen, VP du développement commercial chez Cyngn, a souligné la capacité du chariot élévateur à compléter de manière autonome l'ensemble des processus de déplacement de matériaux sans intervention humaine. L'entreprise se prépare maintenant à construire et à vendre des unités supplémentaires, avec une intégration dans les opérations du client prévue pour la première moitié de 2025. Cet accomplissement fait suite à une série de développements, y compris un contrat avec un fabricant de matériaux de construction en 2022 et une précommande de 100 chariots élévateurs DriveMod d'Arauco en 2023.
Cyngn hat die erfolgreiche Abschluss seines ersten bezahlten autonomen DriveMod Gabelstapler-Einsatzes in einer Kundenanlage bekannt gegeben. Dieser Meilenstein stellt einen bedeutenden Schritt in der Kommerzialisierung des Enterprise Autonomy Suite (EAS) Portfolios von Cyngn dar. Der DriveMod Gabelstapler, ausgestattet mit fortschrittlichen Sicherheitssystemen und KI-gestützter Computer Vision, kann Lasten von über 10.000 lbs handeln und sich autonom in dynamischen Umgebungen bewegen.
Ben Landen, VP für Geschäftsentwicklung bei Cyngn, hob die Fähigkeit des Gabelstaplers hervor, gesamte Materialbewegungsprozesse ohne menschliches Eingreifen autonom abzuschließen. Das Unternehmen bereitet sich nun darauf vor, zusätzliche Einheiten zu bauen und zu verkaufen, wobei die Integration in die Abläufe des Kunden für die erste Hälfte des Jahres 2025 angestrebt wird. Diese Errungenschaft folgt auf eine Reihe von Entwicklungen, darunter ein Vertrag mit einem Hersteller von Baustellenmaterialien im Jahr 2022 und eine Vorbestellung von 100 DriveMod Gabelstaplern bei Arauco im Jahr 2023.
- Completed first paid autonomous DriveMod Forklift deployment at a customer facility
- DriveMod Forklift can handle loads over 10,000 lbs (4,545 kg)
- Targeting integration into customer's operations by first half of 2025
- Previous pre-order of 100 DriveMod Forklifts from Arauco
- None.
Insights
The completion of Cyngn's first paid DriveMod Forklift deployment marks a significant milestone in the company's commercialization efforts. This achievement demonstrates the product's real-world viability and sets the stage for potential revenue growth. Key points to consider:
- The successful deployment at a customer facility validates the technology's readiness for commercial use.
- Cyngn is targeting integration into the customer's operations by H1 2025, indicating a clear timeline for potential revenue realization.
- The company has already secured a pre-order of 100 DriveMod Forklifts from Arauco, suggesting strong market interest.
- Cyngn's focus on heavy loads and non-standard pallets differentiates it in a large market, potentially leading to a competitive advantage.
While this news is positive for Cyngn's growth prospects, investors should note that the company is still in the early stages of commercialization. The success of future deployments and the ability to scale production will be important for financial performance. The stock may see increased interest, but profitability likely remains a future goal.
Cyngn's DriveMod Forklift represents a significant technological advancement in the material handling industry. The key technical features that stand out are:
- 360° high-definition perception and Virtual Bumper technology for enhanced safety
- Advanced AI and proprietary computer vision for real-time pallet analysis
- Capability to handle loads over 10,000 lbs (4,545 kg)
- Integration with Cyngn Insight for fleet management and operational analytics
The ability to autonomously complete entire material moving flows without human intervention is a major selling point. This level of automation could significantly reduce labor costs and increase efficiency for customers. However, the true test will be in scaling the technology and ensuring consistent performance across various customer environments. The success of this initial deployment is promising, but widespread adoption will depend on the system's reliability, cost-effectiveness and ability to integrate seamlessly into existing workflows.
Details on this customer's forklift use case are being kept confidential at this time, but this achievement demonstrates the DriveMod Forklift's capability to execute the work required at a large customer facility. This milestone sets up the critical next steps of commercialization for the DriveMod Forklift, which include building and selling additional units in preparation for integration into this customer's operations, which is targeted for the first half of 2025.
"The DriveMod Forklift represents the holy grail of automation. This is one of the few machines that can autonomously accomplish entire material moving flows, from A-to-Z, without requiring human intervention," said Ben Landen, VP of Business Development at Cyngn. "This means that the market for autonomous forklifts is among the largest in comparison to other material handling vehicles, and we've carved out a differentiated niche by targeting heavy loads on non-standard pallets. This achievement allows us to validate and showcase the forklift's capabilities in real-world, high-throughput settings that capture significant value for our customer."
The DriveMod Forklift leverages advanced AI and proprietary computer vision to analyze pallet stack and pocket dimensions in real time, enabling the precise handling of loads over 10,000 lbs (4,545 kg) and elevating productivity. Customers can control the DriveMod Forklift via Cyngn Insight, the Company's sleek fleet management system that enables real-time vehicle monitoring, operational analytics, and centralized mission planning.
The DriveMod Forklift has a history of successful technological and commercial advancement. In the fall of 2022, Cyngn announced that it had signed a contract with a building materials manufacturer to begin development. By the summer of 2023, Cyngn revealed the first footage of the autonomous forklift and soon followed up with an announcement that the building manufacturer, Arauco, had pre-ordered 100 DriveMod Forklifts.
The DriveMod Forklift is now available for additional deployments on a select basis. Visit https://www.cyngn.com/vehicles/autonomous-forklift to learn more or explore the Cyngn Press Kit for additional images.
About Cyngn. Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.
Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.
Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).
Find Cyngn on:
- Website: cyngn.com
- Twitter: twitter.com/cyngn
- LinkedIn: https://www.linkedin.com/company/cyngn
- YouTube: https://www.youtube.com/@cyngnhq
Investor Contact:
Don Alvarez, CFO
investors@cyngn.com
Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com
FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the SEC, including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.
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SOURCE Cyngn
FAQ
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