Oshkosh Corporation Invests in LiDAR Technology Company Baraja

Rhea-AI Summary

Oshkosh Corporation (NYSE: OSK) has announced a strategic investment in Baraja Pty, Ltd., an Australian startup specializing in advanced LiDAR solutions. This investment aligns with Oshkosh's commitment to enhancing product safety and autonomy features.

The partnership aims to develop high-performance LiDAR technologies capable of meeting the demands of harsh environments, using unique solid-state scanning optics. This technology is designed to facilitate Level 4 autonomous driving, making Oshkosh products safer and more efficient.

Oshkosh emphasizes that it is investing strategically to be a market leader in innovative safety features, ensuring reliability and enhanced functionality of its product offerings.

Positive

• Strategic investment in Baraja to enhance product portfolio.
• Investment supports development of advanced, reliable LiDAR technology.
• Partnership aims to facilitate Level 4 autonomous driving.

Negative

• None.

Advances active safety and autonomy technology focus areas

OSHKOSH, Wis.--(BUSINESS WIRE)-- Oshkosh Corporation (NYSE: OSK), a leading innovator of purpose-built vehicles and equipment, is pleased to announce that it has invested in Baraja Pty, Ltd., an Australia-based startup that develops differentiated LiDAR solutions. The Oshkosh investment in Baraja supports the company’s dedication to innovating solutions that enhance and differentiate its product portfolio in the areas of active safety and autonomy.

“We are making key strategic investments to be first to market with new features and functions that make Oshkosh products safer and more productive,” said John Pfeifer, president and chief executive officer of Oshkosh Corporation. “By partnering with Baraja, we are active participants in the development process to enable best-in-class perception sensor solutions.”

Baraja is developing high-performance LiDAR technology that is more capable and reliable than legacy LiDAR systems, for use in harsh environments. One of Baraja’s unique enablers is the use of prism-like optics instead of mechanical steering to scan the environment in a solid-state fashion, resulting in a high-quality pointcloud for use in self-driving vehicles and equipment.

“Our Spectrum-Scan™ LiDAR technologies are built to provide long-term reliability, resolution and range to facilitate Level 4 autonomous driving,” said Federico Collarte, CEO, Baraja Pty, Ltd. “These pioneering sensors completely rethink environment scanning to better detect objects at range.”

Oshkosh Corporation is an industrial technology company dedicated to making a difference in people’s lives. The company’s investment is part of a broader capital raise by Baraja to develop advanced LiDAR technology.

For more information on Oshkosh innovation, please visit oshkoshcorp.com.

About Oshkosh Corporation

At Oshkosh (NYSE: OSK), we make innovative, mission-critical equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs approximately 15,000 team members worldwide, all united behind a common cause: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG^®, Hinowa, Pierce^®, MAXIMETAL, Oshkosh^® Defense, McNeilus^®, IMT^®, Jerr-Dan^®, Frontline™, Oshkosh^® Airport Products, London™ and Pratt Miller. For more information, visit oshkoshcorp.com.

^®, ™ All brand names referred to in this news release except for Baraja and Spectrum-Scan are trademarks of Oshkosh Corporation or its subsidiary companies.

About Baraja

Baraja is building the future of LiDAR to enable the autonomous future. With its revolutionary Spectrum-Scan™ LiDAR technology, Baraja gives leading vehicle companies a solid-state system in the fast axis that sets a new benchmark in precision and reliability.

Spectrum-Scan™ is built for maximum reliability in real-world environments. Tested on the dirt roads of mines and arctic tundra, Spectrum-Scan™ has higher tolerance to heat, shock and vibration than other systems so it can brave the toughest environments, from city streets to the outback. For more information, visit www.baraja.com

Forward Looking Statements

This news release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions, and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230417005869/en/

Financial:

Patrick Davidson

Senior Vice President, Investor Relations

920.502.3266



Media:

Jennifer Stiansen

Vice President, Global Branding and Communications

240.500.6485

Source: Oshkosh Corporation

FAQ

What recent investment has Oshkosh Corporation made?

Oshkosh Corporation has invested in Baraja Pty, Ltd. to enhance its safety and autonomy technology.

How does the investment in Baraja benefit Oshkosh Corporation?

The investment enables Oshkosh to develop advanced LiDAR solutions for safer and more productive products.

What technology is Baraja developing that interests Oshkosh?

Baraja is developing high-performance LiDAR technology known as Spectrum-Scan™, which offers solid-state scanning for autonomous driving.

What is the focus of Oshkosh Corporation's investment strategy?

Oshkosh aims to be first to market with innovative safety features and functions, enhancing its product offerings.

What level of autonomous driving is Baraja's technology aiming to achieve?

Baraja's technology aims to facilitate Level 4 autonomous driving.