Intermap Announces New Contract for Agriculture Management in Southeast Asia

Rhea-AI Summary

Intermap Technologies announced a contract to supply 3D digital elevation models (DEMs) to enhance agricultural efficiency in Indonesia. The country's agriculture sector is crucial, employing a third of its labor force and contributing around 14% to GDP. Intermap's data will aid in monitoring plantations across Sumatra and Borneo, ultimately improving yields and minimizing crop loss due to pests and diseases.

The company's innovative approach is expected to drive future growth, as it collaborates with various agricultural and natural resource entities in Southeast Asia. Intermap’s 3D elevation models provide detailed terrain information, enabling informed decision-making for sustainable agricultural practices.

Positive

• Secured a contract to supply 3D digital elevation models, enhancing agricultural efficiency in Indonesia.
• Addresses a vital sector contributing approximately 14% to Indonesia's GDP and employing one-third of its labor force.
• Expected to drive future growth through collaborations with agricultural and natural resource entities in Southeast Asia.

Negative

• Forward-looking statements include risks such as revenue fluctuations and potential loss of key customers.

3D elevation data critical for managing agriculture and natural resources

Enabling sustainable farming and reducing crop loss in Indonesia

DENVER, April 13, 2023 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX: IMP; OTCQX: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced a contract to supply 3D digital elevation models (DEMs) to reduce crop loss for a leading agricultural company in Indonesia.

Indonesia’s economy relies on its agricultural sector, employing one third of its labor force and representing approximately 14% of its GDP. With one of the world’s largest agricultural productions, the sector plays a vital role in supporting the country’s growth and development. Intermap’s customer is utilizing the Company’s precision data for monitoring and site assessment over large areas across the islands of Sumatra and Borneo. Intermap’s innovative datasets provide the client with critical information to manage their plantations efficiently, resulting in better yields. Elevation data is a key tool for agriculture companies as they decide when to irrigate and fertilize, which results in reduced crop loss due to pests and diseases.

Leveraging its one-of-a-kind data and analytics, Intermap is working with major agriculture and natural resources entities throughout Southeast Asia. These growing commercial applications, including the related positive economic, jobs, and climate effects, reinforce the urgency for national governments to update and maintain best-in-class geospatial infrastructure. Intermap believes a significant amount of future growth will follow from these contract awards.

“We are excited to be at the forefront of applying our data and innovative technology for agricultural resource management,” said Patrick A. Blott, Intermap Chairman and CEO. “Our products enable farmers to make informed decisions about plantations from a sustainable, economic and environment conscious perspective.”

The Company’s 3D elevation models provide detailed, highly accurate information about plantation terrain and topography while supporting imagery provides up-to-date information about crop growth and land use changes. By combining these two technologies, agricultural companies can create a comprehensive representation of plantations and surrounding environments.

To learn more about Intermap’s elevation data, visit intermap.com/nextmap.

Intermap Reader Advisory
Certain information provided in this news release, including reference to revenue growth, constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", “will be”, “will consider”, “intends” and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap’s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap’s Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

About Intermap Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models. Through scientific analysis of geospatial information and patented sensors and processing technology, the Company provisions diverse, complementary, multi-source datasets to enable customers to seamlessly integrate geospatial intelligence into their workflows. Intermap’s 3D elevation data and software analytic capabilities enable global geospatial analysis through artificial intelligence and machine learning, providing customers with critical information to understand their terrain environment. By leveraging its proprietary archive of the world’s largest collection of multi-sensor global elevation data, the Company’s collection and processing capabilities provide multi-source 3D datasets and analytics at mission speed, enabling governments and companies to build and integrate geospatial foundation data with actionable insights. Applications for Intermap’s products and solutions include defense, aviation and UAV flight planning, flood and wildfire insurance, disaster mitigation, base mapping, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation.

FAQ

What is Intermap Technologies' contract for?

Intermap Technologies has secured a contract to supply 3D digital elevation models to an agricultural company in Indonesia to reduce crop loss.

How does Intermap's technology benefit Indonesian agriculture?

Intermap's 3D elevation data helps agricultural companies monitor plantations, leading to better yields and reduced crop loss.

What is the significance of agriculture in Indonesia's economy?

Agriculture employs one-third of Indonesia's workforce and contributes about 14% to its GDP.

What future growth does Intermap expect from its recent contract?

Intermap anticipates future growth by collaborating with major agricultural and resource entities across Southeast Asia.

What risks does Intermap face according to its press release?

Intermap's forward-looking statements mention risks like revenue fluctuations and potential loss of key customers.