Ouster Selected as Exclusive Supplier for PARIFEX Speed Enforcement Contract
Ouster, Inc. (NYSE: OUST) has entered a strategic agreement with PARIFEX to provide its OS1 lidar sensors for speed enforcement systems in France. This collaboration includes the potential supply of 500 sensors through 2025. Ouster's sensors will enhance PARIFEX's existing technology, which is already approved for speed measurement by the French Ministry of Interior. The partnership aims to improve traffic control and safety in urban areas, capitalizing on the growing demand for smart city solutions.
- Strategic partnership with PARIFEX enhances market presence in smart city solutions.
- Potential supply of 500 lidar sensors through 2025 indicates significant revenue opportunity.
- Ouster's OS1 sensors enhance the capabilities of PARIFEX's speed enforcement systems.
- Dependence on a single customer (PARIFEX) for sensor sales may pose revenue risks.
- Future financial performance heavily contingent on the success of the ETU Project.
Ouster, Inc. (NYSE: OUST), a leading provider of high-resolution digital lidar sensors for the industrial automation, smart infrastructure, robotics, and automotive industries, today announced that it has signed a strategic customer agreement with PARIFEX, a leading solution provider in project management for smart cities, to deploy Ouster’s OS1 sensors on speed enforcement and data collection systems in France.
(Photo: Business Wire)
Ouster has agreed be the exclusive lidar supplier for PARIFEX's ETU Project (“Radar Urbain”) for the deployment and maintenance of mobile and fixed urban speed lidar enforcement systems in Northern France, with a potential supply demand of 500 sensors through 2025. PARIFEX offers the only approved lidar based system for speed measurement and control in the country.
“We selected Ouster and its OS1 sensor due to its reliability and high-resolution scanning system which can map the environment with impressive precision, enabling PARIFEX to meet current and future needs in traffic control,” said PARIFEX CEO Franck Peyré.
Parifex is already one of the main suppliers of road radars to the French Ministry of Interior, and now due to the improvement of its speed control systems using 3D lidar technology, is able to offer a completely new data collection system that can be used to detect mobile speed, stop signs, red light violations, and other events.
“With millions of traffic intersections around the world and increased investments to modernize roadways, we see a massive opportunity for our digital lidar to enable smart cities and improve safety,” said Cyrille Jacquemet, Ouster’s GM for the EMEA Region. “We are excited to be working with PARIFEX on this first deployment in France. Everywhere there is a CCTV camera or radar system in use today is an opportunity to augment or replace that system with Ouster’s digital lidar in the future.”
Ouster is deploying its sensors to monitor vehicle and pedestrian traffic flow and support cities on their mission to reduce road accidents across EMEA, APAC, and the Americas. Today, more than
About Parifex
Parifex is a leading solution provider in project management, helping its clients in all fields of activity in the conception, management, development, and integration of their great engineering projects in industry and road safety. Through its expertise, the company also designs leading solutions for projects such as smart cities, new mobility, and more. Parifex was founded in 1994 and has branches in Europe and Asia, along with clients throughout the world. For more information, visit www.parifex.com/en.
About Ouster
Ouster (NYSE: OUST) invented its digital lidar in 2015 and is a leading manufacturer of high-resolution digital lidar sensors used throughout the industrial automation, smart infrastructure, robotics, and automotive industries. Ouster’s sensors are reliable, compact, affordable and highly customizable, laying the foundation for digital lidar ubiquity across endless applications and industries. Already hundreds of customers have incorporated Ouster lidar sensors in current products or those in development for imminent commercial release. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding PARIFEX potential supply demand for Ouster’s sensors, financial outlook and market positioning. Forward-looking statements give Ouster’s current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: Ouster’s limited operating history and history of losses; the adoption of its products and the growth of the lidar market generally; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to applications in which its products are frequently used; its reliance on a third-party manufacturer; the timing of revenue from existing customers; uncertainties related to Ouster’s estimates of the size of the markets for its products and future revenue opportunities; and other important factors discussed in the Company’s final prospectus and definitive proxy statement, dated February 12, 2021, filed with the Securities and Exchange Commission (the “SEC”), as updated by the factors disclosed in the section titled “Risk Factors” in its Current Report on Form 8-K filed with the SEC on March 15, 2021, and in other reports the Company files with or furnishes to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210608006085/en/
FAQ
What is Ouster's new partnership about?
How many sensors will Ouster supply to PARIFEX?
What are the benefits of Ouster's lidar sensors?
What market does this partnership target?
Which project will Ouster's sensors be implemented in?
