Intermap Receives First Task Order for U.S. Department of the Interior IDIQ Prime Contract

Rhea-AI Summary

Intermap Technologies (OTCQX: ITMSF) announced its first task order under a $450,000 IDIQ contract with the Department of the Interior, aimed at supporting the Safety of Dams program. This task order will provide critical digital terrain data for hazard classification studies across select states, including Montana, Arizona, New Mexico, and Utah. The terrain data is essential for flood risk management and emergency planning, aligning with climate change mitigation efforts. Intermap's advanced AI and machine learning capabilities enhance the quality and efficiency of its geospatial data, establishing a stronger partnership with government agencies.

Positive

• Secured a $450,000 task order under a prime contract with the Department of Interior.
• Provides critical terrain data for flood risk management and emergency planning.
• Strengthens relationship with government agencies, enhancing future contract opportunities.

Negative

• None.

Suppling digital terrain data critical for dam inundation analysis, emergency action plans and climate risk management

Task order issued by Bureau of Indian Affairs to support the Safety of Dams program

DENVER, Feb. 28, 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 received its first task order from the Department of the Interior under the Digital Terrain Model (DTM) Data IDIQ prime contract to support the agency’s Safety of Dams program.

This $450,000 IDIQ contract is for terrain data to support hazard classification studies over select dams, lakes, reservoirs and other water storage areas, with the first task order covering Montana, Arizona, New Mexico and Utah. Terrain data is a critical component for flood risk mitigation teams when making policies for flood and climate risk management. It also supports studies of downstream flooding due to dam failure as well as measuring reservoir storage capacity and watershed delineation. These studies contribute to climate change risk mitigation, emergency action plans, security and maintenance of important water systems. Intermap’s hydro-enforced terrain data makes its DTM a critical dataset for flood modeling analytics, optimizing portfolios and reducing risk resulting from climate change.

Intermap uses artificial intelligence and machine learning (AI/ML) techniques to build its global elevation datasets. Government agencies like the Department of Interior and Department of Defense rely on the Company’s advanced global datasets to support operations worldwide. Intermap provides access to the required datasets on-demand, enabling the DOI to conduct accurate and consistent hydrologic and hydraulic modeling for any location in the country. Winning the IDIQ contract and receiving the first task order is a major milestone for the Company’s relationship with the DOI for supporting its mission to protect human life and property in the event of a dam failure. A list of Intermap’s active government contracts can be found here.

“Intermap is pleased to hold this prime contract and receive its first task order under the Digital Terrain Model Data IDIQ,” said Patrick A. Blott, Intermap Chairman and CEO. “Our terrain data enables government agencies to plan and execute projects quickly and efficiently with data that is consistent across all project areas. Intermap maintains a trusted and reliable relationship with the agency to support dam inundation studies.”

Learn more about Intermap’s elevation data offerings 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 the significance of the task order received by Intermap Technologies on February 28, 2023?

The task order, worth $450,000, supports the Safety of Dams program, providing critical digital terrain data for hazard classification studies in specific states.

How does Intermap's digital terrain data support climate risk management?

Intermap's terrain data aids flood risk mitigation teams in making informed decisions regarding flood and climate risk management, and supports emergency planning.

What technology does Intermap use to develop its digital terrain data?

Intermap utilizes artificial intelligence and machine learning technologies to enhance the accuracy and efficiency of its global elevation datasets.

Which states are included in the first task order for terrain data by Intermap?

The first task order covers Montana, Arizona, New Mexico, and Utah.

How does the task order impact Intermap's business and future opportunities?

Winning this task order marks a significant milestone in Intermap's relationship with the Department of Interior, potentially leading to more government contracts and business opportunities.