Gauzy’s Advanced Driver Assistance Systems (ADAS) Enhances Public Safety at the 2024 Paris Olympics With More Than 11 Million Expected Visitors

Rhea-AI Summary

Gauzy (Nasdaq: GAUZ) has announced the implementation of its 'Smart-Vision' Camera Monitoring System (CMS) on Paris buses for the 2024 Olympics. With 11.3 million expected visitors, Gauzy's technology aims to enhance public safety by reducing blind spots and optimizing drivers' visibility. The system replaces traditional side mirrors with high-definition cameras and interior displays, potentially reducing accident costs by up to 40%.

Gauzy's Smart-Vision CMS is already used by leading OEMs like Man, Irizar, Scania, Hess, and Van Hool. The technology improves situational awareness, helping drivers detect pedestrians, cyclists, and other vehicles more easily. This deployment aligns with Paris's commitment to smart mobility solutions and sustainable urban transportation, especially important during the Olympics with increased demand on public transport.

Positive

• Implementation of Smart-Vision CMS on Paris buses for 2024 Olympics
• Potential to reduce accident costs by up to 40%
• Partnerships with leading bus OEMs like Man, Irizar, Scania, Hess, and Van Hool
• Enhanced driver comfort and reduced fatigue
• Improved energy efficiency due to aerodynamic design

Negative

• None.

Insights

Tech Expert

Gauzy’s deployment of its Smart-Vision CMS technology in Paris buses for the 2024 Olympics is a notable advancement in the field of Advanced Driver Assistance Systems (ADAS). ADAS technologies are designed to improve vehicle safety by reducing human error, which is a leading cause of road accidents. Smart-Vision CMS replaces traditional side mirrors with high-definition cameras and interior displays, eliminating blind spots and enhancing situational awareness for drivers.

This system enhances driver comfort by providing clear visuals under various conditions, potentially reducing fatigue and stress. Additionally, the aerodynamic design of the CMS leads to better fuel efficiency, aligning with global trends towards more energy-efficient and sustainable public transportation. Such innovations are essential for managing increased transport demands during large events like the Olympics, where public safety is paramount.

The adoption of this technology by major bus OEMs and its forthcoming implementation in Paris imply a growing trust and reliance on camera-based monitoring systems over traditional mirrors. This shift is indicative of the broader trend toward incorporating more sophisticated tech solutions in public transportation to improve safety and efficiency.

Financial Analyst

From a financial perspective, Gauzy's partnership with Paris for the 2024 Olympics reflects well on the company's strategic positioning and market penetration capabilities in the ADAS sector. The potential to reduce accident-related costs by up to 40 is a significant selling point, potentially driving broad adoption beyond the Olympics. Such cost savings can be highly appealing to public transportation authorities and other large fleet operators, translating to long-term revenue growth for Gauzy.

Moreover, the successful implementation of Gauzy’s technology in high-profile events can enhance the company’s reputation and brand equity. Investors should take note of the scalability of this technology and Gauzy’s ability to secure such strategic partnerships, which can lead to further market expansion and higher future earnings. The integration of energy-efficient features also positions Gauzy favorably in the context of increasing environmental regulations and sustainability initiatives worldwide.

By aligning with the ongoing global trend towards smarter and greener public transportation solutions, Gauzy has placed itself strategically in a rapidly growing market. This positioning could yield significant returns for investors, especially if the company continues to secure similar high-profile contracts.

Reducing accident costs by up to 40%, Gauzy’s Smart-Vision CMS (camera monitor system) deployed on buses city wide extends on-road visibility to mitigate blind spots, preventing life threatening collisions and protecting vulnerable road users

TEL AVIV, Israel, July 17, 2024 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a leading developer and manufacturer of Advanced Driver Assistance Systems (ADAS), today announced the implementation of its cutting-edge ‘Smart-Vision’ Camera Monitoring System (CMS) on a portion of the city of Paris’s buses, beginning with the 2024 Olympics. According to Paris 2024 Olympic and Paralympic Games Organizing Committee and Île-de-France Mobilités, the key goal this year is to enable every spectator to get to the Olympic and Paralympic venues using public transport. With an expected 11.3 million visitors according to Je t'aime, Paris’ official tourism board, including athletes, tourists, and spectators from around the world, Gauzy's innovative technology aims to play a crucial role in reducing the risk of on road accidents to enhance public safety with its products that mitigate blind spots and optimize drivers' visibility in city buses.

Gauzy's innovative Smart-Vision CMS technology replaces traditional side mirrors with high-definition cameras and interior displays, providing bus drivers with a comprehensive view of their surroundings. The product is currently implemented in city buses by some of the world’s leading OEMs, such as Man, Irizar, Scania, Hess, and Van Hool. This advanced system significantly improves situational awareness, enabling drivers to detect pedestrians, cyclists, vulnerable road users (VRUs) and other vehicles with greater ease to reduce accidents. According to a study conducted by Geneva Public Transport, Gauzy’s Smart-Vision is proven to reduce costs associated with accidents by up to 40%. "As Paris welcomes the world for the 2024 Olympics, the safety and efficiency of public transportation become even more paramount," said Eyal Peso, CEO and Co-Founder of Gauzy. "Our Smart-Vision CMS technology is designed to address the unique challenges of urban driving, particularly in a bustling city like Paris with an influx of occupants. We are proud to contribute to the safety of the city's residents and visitors during this significant event."

Gauzy is committed to enabling cities to take a proactive approach to enhance public transportation, safety and efficiency, while also considering concerns caused by an increase in micro-mobility. Paris joins multiple cities worldwide, including London, Brisbane, and Lyon that have already selected Gauzy's Smart-Vision CMS to make a positive impact on road safety.

With millions of visitors expected to attend the Olympics and encouraged to use public transport to navigate between 50 sessions per day and 25 venues, the enhanced safety measures provided by Gauzy's technology will be instrumental in managing the increased demand on public transportation. The deployment of Gauzy's technology in Parisian buses aligns with the city's commitment to smart mobility solutions and sustainable urban transportation, and comes at a critical time ahead of the Olympics.

In addition to improving safety, Gauzy's smart-vision CMS offers several other benefits, including:

• Enhanced Driver Comfort: The system reduces driver fatigue by providing clear and consistent visuals, regardless of weather conditions or time of day, improving confidence to make real-time, lifesaving decisions.
• Energy Efficiency: The aerodynamic design of the CMS reduces drag, contributing to overall fuel efficiency and reduced emissions.
• Advanced Features: The system includes features such as automatic brightness adjustment and maneuver assistance systems to further assist drivers.
  

Gauzy is proud to play an integral role in public safety, especially at one of the biggest events in the world. Gauzy looks forward to continuing its partnership with leading bus OEMs and networks, ensuring cities offer safer and smarter transportation for all.

For more information about Gauzy and its ADAS products, including Smart-Vision CMS, please visit www.gauzy.com or contact press@gauzy.com.

About Gauzy

Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and Dubai. Gauzy serves leading brands in over 30 countries through direct fulfillment and a certified and trained distribution channel.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy’s current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company’s prospectus (Registration No. 333-278675), dated June 5, 2024 and filed with the SEC. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.

Contacts

Media:
Brittany Kleiman Swisa
Gauzy Ltd.
press@gauzy.com

Investors:
Dan Scott / Rodny Nacier, ICR Inc.
ir@gauzy.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d31d03a0-1f1b-46f7-ae3f-1e7c8bc71178

FAQ

What is Gauzy's Smart-Vision CMS technology being used for during the 2024 Paris Olympics?

Gauzy's Smart-Vision CMS is being implemented on Paris buses to enhance public safety by reducing blind spots and optimizing drivers' visibility, especially important with the expected 11.3 million visitors during the Olympics.

How much can Gauzy's Smart-Vision CMS reduce accident costs for public transport?

According to a study by Geneva Public Transport, Gauzy's Smart-Vision CMS can reduce costs associated with accidents by up to 40%.

Which major bus OEMs are currently using Gauzy's Smart-Vision CMS technology?

Gauzy's Smart-Vision CMS is currently implemented in city buses by leading OEMs such as Man, Irizar, Scania, Hess, and Van Hool.

What are the additional benefits of Gauzy's Smart-Vision CMS besides improved safety?

Additional benefits include enhanced driver comfort, reduced driver fatigue, improved energy efficiency due to aerodynamic design, and advanced features like automatic brightness adjustment and maneuver assistance systems.