Intermap Awarded Task Orders for the U.S. Department of Defense
Intermap Technologies (OTCQX: ITMSF) announced its first task orders under the U.S. Defense Department's JANUS contract, completing the initial order within 48 hours. This contract, valued at up to $920 million, involves delivering geospatial intelligence using advanced AI/ML technology. The company aims to support the U.S. DOD's precision warfare initiatives with timely geospatial insights. Expected future task orders are anticipated through 2023, highlighting Intermap's strategic role and potential revenue growth in the defense sector.
- First task order completed under the JANUS contract within 48 hours.
- Potential revenue growth with the JANUS contract ceiling of $920 million.
- Strategic position in supporting U.S. DOD's precision warfare initiatives.
- None.
First task order completed within 48 hours
JANUS Geography IDIQ is a program of record with a ceiling of U.S.
Similar JANUS task orders are expected to continue through 2023
DENVER, Jan. 30, 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 was awarded its first task orders under the U.S. Defense Department’s JANUS contract. It completed the first task order within 48 hours. Intermap provided geospatial products for a federal intelligence agency that were processed using its advanced AI/ML technology.
Intermap uses AI/ML to produce rapid, large scale, high-precision geospatial intelligence containing hydro, objects, and advanced terrain features, including buildings. This is the first work Intermap has done for its partner under the JANUS contract.
JANUS is a U.S. Department of Defense Program of Record structured as an IDIQ. It is the primary vehicle to fund the creation and integration of geospatial intelligence for authoritative, seamless, worldwide datasets, using traditional and non-traditional sources. Intermap leveraged its latest generation of automated systems to produce the required deliverables.
“Supporting the U.S. DOD’s mission to advance integrated precision warfare with rapid and precise geospatial intelligence is a privilege and strategic imperative for Intermap,” said Patrick A. Blott, Intermap Chairman and CEO. “These awards, and more like them, will drive our business forward by incorporating proprietary, commercial AI/ML capabilities that deliver timely GEOINT decision-making at worldwide scale, on-demand, at the operating tempo of U.S. government intelligence agencies.”
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
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