Intermap Awarded Contract for EDF Hydro Power Projects in South America
Intermap Technologies (OTCQX: ITMSF) announced a contract with EDF Hydro to provide high-resolution NEXTMap® digital terrain models for hydro power projects in South America. These models will aid in feasibility studies and project planning, leveraging Intermap's AI-driven technology to navigate challenging terrain. Executives from both companies emphasized the importance of clean energy and the potential for hydro power growth. Intermap continues to expand its renewable energy solutions, supporting various projects worldwide.
- Secured a contract with EDF Hydro for high-resolution digital terrain models.
- Utilizes unique AI/ML technology for accurate mapping of challenging terrains.
- Supports clean energy initiatives, contributing to hydro power development in South America.
- None.
Advanced AI/ML technology enhances datasets that support clean energy initiatives
High-resolution data enables efficient and accurate planning for renewable energy projects
DENVER, March 07, 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 it has been awarded a contract for high-resolution NEXTMap® digital terrain models to support EDF Hydro ("EDF") with hydro power projects in South America.
EDF has been a world leader in hydro power design, development and operation for over 70 years. Intermap’s NEXTMap digital terrain models (DTMs) enable EDF to perform hydro power feasibility studies, project modeling and preliminary engineering for multiple prospective hydro power projects in South America. Intermap offers these capabilities as a service at global scale.
Intermap’s elevation data collection and processing expertise provides EDF engineers with high-resolution DTMs that are consistent in precision, quality and data specification across all areas of interest, enabling efficient analyses of numerous remote hydro power projects. The contract areas are composed of strategic topography containing mountainous forest, which is challenging terrain to map accurately due to the difficulty of measuring the ground beneath trees and on steep slopes. Intermap’s advanced technology is unique, patented and AI/ML-driven, enabling it to map rugged terrain and model the ground beneath the canopy. This makes preliminary studies and project planning more accurate and efficient.
“Intermap's NEXTMap DTM data provides unique value to EDF’s hydro power development efforts, enabling the characterization of terrain for early development stages,” said Yann Marcilloux, EDF Project Leader.
“Hydro power has been a reliable source of clean energy for over a century and its potential for growth is immense,” said Patrick A. Blott, Intermap Chairman and CEO. “We are proud to enable and support development of hydro power in South America to harness its benefits and create a cleaner and more prosperous future. We are pleased to support EDF with its project development and look forward to future opportunities with EDF and other clean energy companies around the world.”
Hydro power is a clean, renewable energy source that harnesses the power of moving water to generate electricity and does not produce harmful emissions, making it an attractive alternative for powering homes, businesses and communities. In addition, hydro power offers critical benefits, including reliability, sustainability, cost-effectiveness, versatility and job creation, that make it an important component of South America’s energy mix. Intermap continues to grow its renewable energy business, supporting hydro, wind and solar projects across the world.
To learn more about Intermap’s renewable energy solutions, visit intermap.com/renewable-energy.
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.
For more information, please visit www.intermap.com or contact:
Jennifer Bakken
Executive Vice President and CFO
CFO@intermap.com
+1 (303) 708-0955
FAQ
What contract did Intermap Technologies announce on March 7, 2023?
How does Intermap's technology benefit EDF Hydro?
What is the stock symbol for Intermap Technologies?
What industry is Intermap Technologies involved in?
What are the benefits of hydro power as mentioned by Intermap Technologies?
