Intermap Awarded U.S. Government Multiple Award Schedule Prime Contract

Rhea-AI Summary

Intermap Technologies has secured a Multiple Award Schedule Contract with the GSA, enabling all Federal Civilian Agencies and the Department of Defense to procure its geospatial solutions efficiently. This contract enhances the accessibility of Intermap’s 3D elevation products and intelligence services, pivotal for government operations. In 2021, the U.S. government spent $39 billion through the GSA program, highlighting its significance. Intermap, operating in over 61 countries, aims to support various sectors, including defense and disaster mitigation, through this contract.

Positive

• Secured GSA Multiple Award Schedule Contract, facilitating procurement for various government agencies.
• Enhances accessibility to crucial 3D elevation products and geospatial intelligence solutions.
• Potentially increases revenue opportunities through federal contracts, given the $39 billion spent by the U.S. government in 2021.

Negative

• None.

Offering mapping, situational awareness, 3D collection, fusion, and exploitation of GEOINT to all government agencies and service commands

Key milestone for geospatial intelligence users to acquire global scale commercial 3D solutions on terms that are pre-vetted, negotiated, and immediately available

DENVER, June 2, 2022 /PRNewswire/ - Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) ("Intermap" or the "Company"), a global leader in geospatial content development and intelligence solutions, today announced it has been awarded a Multiple Award Schedule Contract (#47QTCA22D0092) by the General Services Administration (GSA), which is the centralized procurement arm of the federal government. This award gives all Federal Civilian Agencies, the Department of Defense, Federal Agencies, and state and local governments the ability to purchase Intermap's services and solutions through the GSA Schedule.

The GSA Multiple Award Schedule, also referred to as the Federal Supply Schedule, is a long-term, U.S. government-wide contract. In 2021, the U.S. government spent $39 billion through the GSA Multiple Award Schedule program (source). This contract vehicle is critical for agencies to access commercial products and services for unexpected, time sensitive, and crisis events. Intermap's GSA Schedule will provide easy and efficient access to timely 3D elevation products, source agnostic processing services, IFSAR data collection technology, as well as airborne sensors and other geospatial intelligence solutions.

"We are pleased to offer our GEOINT solutions through a Prime Contractor position on the GSA Schedule," said Patrick A. Blott, Intermap's Chairman and CEO. "Timely 3D Geospatial data is a critical tool for government agencies to better understand their terrain environment and inform strategic and tactical decision-making. The GSA schedule significantly extends the reach and availability of Intermap's products and services."

Intermap is a worldwide leader in geospatial solutions with a long history of government contract work. The Company has operated in over 61 countries around the world, helping build critical geospatial infrastructure and enabling partners to make planning decisions affecting national defense, topographic mapping, disaster mitigation, resource allocation, transportation, power management, environmental monitoring, smart city integration and public safety. The GSA Schedule will enable government agencies that did not have a contracting vehicle to acquire Intermap data, solutions, collection, and GEOINT services.

Intermap's products and services are also available through contracts with the U.S. Geological Survey GPSC4, NOAA Shoreline Mapping Support Services and NGA Janus Geography. Additional contracting vehicles include NASA SEWP-V, U.S. Army CHESS ITES-3H and ITES-3S, U.S. Navy SPAWAR C-2 and SeaPort NxG, NIH CIO-CS, DHS FirstSource II and ITES-SW2.

To learn more about Intermap's government solutions and contracts, visit www.intermap.com/government-regulated-industries.

To learn more about GSA, visit GSA.gov. 

Intermap Reader Advisory

Certain information provided in this news release 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 GSA

GSA provides centralized procurement and shared services for the federal government, managing a nationwide real estate portfolio of nearly 370 million rentable square feet, overseeing approximately $75 billion in annual contracts, and delivering technology services that serve millions of people across dozens of federal agencies. GSA's mission is to deliver the best customer experience and value in real estate, acquisition, and technology services to the government and the American people. For more information, visit GSA.gov. 

About Intermap Technologies

Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company's proprietary 3D NEXTMap® elevation datasets and value-added geospatial collection, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data. Intermap helps governments build authoritative geospatial datasets and provides solutions for base mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company's commercial applications include aviation and UAV flight planning, flood and wildfire insurance, 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.

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SOURCE Intermap Technologies Corporation

FAQ

What is the significance of Intermap's GSA Multiple Award Schedule Contract?

The contract allows various federal and state agencies to easily procure Intermap's geospatial solutions, enhancing accessibility and potential revenue.

How much did the U.S. government spend through the GSA program in 2021?

In 2021, the U.S. government spent $39 billion through the GSA Multiple Award Schedule program.

What type of services does Intermap provide under the GSA Schedule?

Intermap provides 3D elevation products, geospatial data collection, and intelligence solutions through the GSA Schedule.

How will the GSA contract impact Intermap's business?

The contract is expected to expand Intermap's market reach and revenue potential by facilitating government agency procurement of its services.