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AEye to Debut Industry’s First Intelligent Transportation System Solutions Based on Adaptive Lidar at ITS World Congress 2022
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
AEye, Inc. (NASDAQ: LIDR) will showcase its innovative lidar solutions at ITS World Congress 2022 in Los Angeles, from September 18 to 22. Their advanced technology aims to enhance traffic flow and safety, enabling agencies to make quicker, cost-effective decisions. AEye presents the 4Sight™ platform, a unique adaptive lidar solution capable of long-range detection for various traffic applications. Through hands-on demos and executive discussions at Booth #1403, AEye seeks to highlight how their lidar technology can revolutionize intelligent transportation systems.
Positive
Showcasing at ITS World Congress demonstrates AEye's commitment to innovation.
The 4Sight™ lidar platform allows for versatile applications, extending detection range over 350 meters.
Provides optimized solutions for traffic agencies to improve operational efficiency and safety.
Negative
Potential risks associated with the lidar not meeting performance expectations.
Concerns about competition, as AEye may not remain the only provider of adaptive lidar technology.
Challenges in market adoption of lidar technology may slow growth.
Company to Showcase Solutions for Smart Intersections, Highway Monitoring, Automated Tolling, and Pedestrian Safety at Booth #1403
DUBLIN, Calif.--(BUSINESS WIRE)--
AEye, Inc. (NASDAQ: LIDR), a global leader in adaptive, high-performance lidar solutions, will showcase how the versatility of its lidar can be used to deliver optimized solutions across the Intelligent Transportation Systems (ITS) market at ITS World Congress 2022, taking place in Los Angeles from September 18 to 22, 2022.
AEye’s lidar solves the major technological limitations traffic agencies face today with improving traffic flow and increasing road safety. It does this by providing the most relevant data to maximize detection reliability, enabling authorities to respond faster, reduce cost of operations, predict conditions, and be more preventive with safety measures. By eliminating irrelevant data capture, AEye provides traffic agencies the speed and accuracy needed from a remote sensing solution, and does so in all weather, lighting, and environmental conditions.
AEye offers the industry’s only adaptive, solid-state, and software-definable lidar - 4Sight™ - which allows for multiple applications and both long-and-short-range detection using only one sensor. The 4Sight platform allows for more accurate, timely, and reliable vision as compared to camera or radar-only systems, and extends detection to over 350 meters to better locate, identify, and track moving objects.
The 4Sight perception solution for ITS has the ability to adapt to any situation and requirement within any ITS application, including automated tolling, smart intersections, traffic monitoring, highway incident detection, and more. Users can customize detection capabilities and performance modes according to the use case.
During ITS World Congress, AEye will offer multiple ways for customers and media to learn more about its groundbreaking technology at Stand #1403:
Application Demos: Witness AEye’s long-range and short-range detection capabilities for automated tolling, incident detection, pedestrian safety, and smart intersections, powered by 4Sight.
Executive Discussions: Meet executives and discuss the unrivaled flexibility of adaptive lidar to support any ITS application and improved 3D perception.
Integrator Partner News: Be the first to learn of new partnerships with leading ITS integrators focused on the future of transportation.
“We’re excited to share a wealth of information with attendees at this year’s ITS World Congress, especially how adaptive lidar delivers a level of safety, accuracy, and cost-savings not achieved before. Traffic and ITS managers who meet with us will be better prepared to plan ITS initiatives, as well as to respond to grant opportunities like the SMART program, which leverages advanced smart community technologies and systems to improve transportation and efficiency,” said Brent Blanchard, AEye’s GM of Industrial Markets.
AEye is the first and only lidar company to validate its sensor’s performance and reliability through a leading third-party testing service and recently passed the milestone of more than 100 patents filed globally, spanning four continents and more than 10 countries. In addition, in 2021, AEye became a publicly-traded company listed on the Nasdaq stock exchange, doubled in size, and opened offices in Korea and Japan. In April 2022, AEye opened an office in Munich to support European customers in the automotive, mobility, trucking, logistics, and smart infrastructure sectors.
About AEye
AEye’s unique software-defined lidar solution enables advanced driver-assistance, vehicle autonomy, smart infrastructure, logistics and off-highway applications that save lives and propel the future of transportation and mobility. AEye’s 4Sight™ Intelligent Sensing Platform, with its adaptive sensor-based operating system, focuses on what matters most: delivering faster, more accurate, and reliable information. AEye’s 4Sight™ products, built on this platform, are ideal for dynamic applications which require precise measurement imaging to ensure safety and performance. AEye has a global presence through its offices in Germany, Japan, Korea and the United States.
Note to journalists: If you are attending or covering ITS World Congress and would like to schedule an interview with AEye, please contact AEye@landispr.com.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements within the meaning of the federal securities laws, including the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “continue,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,” “potential,” “seem,” “seek,” “outlook,” and similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements included in this press release include statements about AEye’s products, the use cases for such products, and the adaptability of these products, as well as the use of lidar generally, among others. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are very difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the control of AEye. Many factors could cause actual future events to differ from the forward-looking statements in this press release, including but not limited to: (i) the risks that the Company may be unable to attend some or all of the ITS World Congress 2022 for any reason, including yet unannounced changes in protocols related to the COVID-19 pandemic, or the potential cancellation of the ITS World Congress 2022, in whole or in part; (ii) the risks that the Company’s lidar may not solve the major technological limitations traffic agencies face today at the level anticipated, or at all; (iii) the risks that the Company’s lidar may not maximize detection reliability or enable authorities to respond faster, reduce cost of operations, predict conditions, and be more preventative with safety measures at the levels anticipated, or at all; (iv) the risks that the Company’s lidar may not provide traffic agencies the speed and accuracy needed in all weather, lighting, and environmental conditions at the levels anticipated, or at all; (v) the risks that the Company is not now, or in the future does not remain, the only company to offer an adaptive, solid-state and software-definable lidar which allows for multiple applications and both long-and-short-range detection using only one sensor; (vi) the risks that the Company’s lidar does not allow for more accurate, timely, and reliable vision as compared to camera or radar-only systems, or such camera or radar-only systems may become substantially equivalent in relevant performance factors; (vii) the risks that the Company’s lidar is not able to adapt to any situation and requirement within any ITS application; (viii) the risks that AEye will be able to successfully launch products into the market; (ix) the risks that lidar adoption occurs slower than anticipated or fails to occur at all; (x) the risks that laws and regulations are adopted impacting the use of lidar that AEye is unable to comply with, in whole or in part, changes in competitive and regulated industries in which AEye operates, variations in operating performance across competitors, and changes in laws and regulations affecting its business; (xi) the risks that AEye is unable to adequately implement its business plans, forecasts, and other expectations, and identify and realize additional opportunities; and (xii) the risks of downturns and a changing regulatory landscape in the highly competitive and evolving industry in which AEye operates. These risks and uncertainties may be amplified by the COVID-19 pandemic, including the Delta and Omicron variants, as well as future variants and subvariants, which has caused significant economic uncertainty. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Quarterly Report on Form 10-Q that AEye has most recently filed with the U.S. Securities and Exchange Commission, or the SEC, and other documents filed by us or that will be filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking statements; AEye assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. AEye gives no assurance that AEye will achieve any of its expectations.
