Velodyne Lidar Named Finalist for 2022 SXSW Innovation Awards

Rhea-AI Summary

Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW) announced its Intelligent Infrastructure Solution has been recognized as a finalist in the Smart Cities, Transportation & Delivery Awards category at the upcoming SXSW Innovation Awards on March 14. This solution enhances traffic monitoring and analytics, aiming to improve road safety, efficiency, and air quality. Deployed across multiple states and Canada, it promotes sustainable practices by reducing emissions and congestion. These innovations may position Velodyne favorably in the expanding smart cities market.

Positive

• Intelligent Infrastructure Solution recognized as a finalist for SXSW Innovation Awards.
• Solution implemented across multiple regions, including Texas, California, and New Jersey.
• Improves traffic safety and efficiency, contributing to sustainable urban development.

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• None.

Velodyne’s Intelligent Infrastructure Solution Recognized for Innovation in Smart Cities, Transportation & Delivery Awards Category

SAN JOSE, Calif.--(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced its Intelligent Infrastructure Solution was selected as a finalist for the 24th annual SXSW Innovation Awards taking place March 14 during the South by Southwest® (SXSW®) Conference and Festivals. Velodyne’s smart city solution provides traffic monitoring and analytics to improve road safety, efficiency and air quality, and help cities plan for smarter, safer transportation systems.

Velodyne Lidar announced its Intelligent Infrastructure Solution was named a finalist for the 24th annual SXSW Innovation Awards at the South by Southwest® (SXSW®) Conference and Festivals. Velodyne’s smart city solution provides traffic monitoring and analytics to improve road safety, efficiency and air quality, and help cities plan for smarter, safer transportation systems. (Photo Credit: Velodyne Lidar)

Velodyne’s Intelligent Infrastructure Solution is a finalist in the Smart Cities, Transportation & Delivery Awards category. The solution is implemented across three continents, with pilots rolled out in Texas, Florida, Nevada, California, New Jersey, Missouri and Canada. These deployments include Austin, Texas, where the city is using the Intelligent Infrastructure Solution to assess traffic conditions and identify proactive safety measures that can be taken to help save lives.

By improving traffic flow and reducing congestion, the Intelligent Infrastructure Solution improves energy efficiency and reduces greenhouse gas emissions for a more sustainable future. In 2021, the solution received a Smart 50 Award presented by Smart Cities Connect to honor the 50 most transformative smart cities projects in the world.

“The SXSW award recognition demonstrates the innovation our Intelligent Infrastructure Solution delivers in transforming infrastructure to make communities smarter and safer today,” said Sally Frykman, Chief Marketing Officer, Velodyne Lidar. “Our breakthrough full stack solution is designed to solve some of the most demanding and pervasive infrastructure problems – predicting, diagnosing and addressing road safety challenges.”

The SXSW Innovation Awards recognize and celebrate the most exciting tech developments in the connected world. The Smart Cities, Transportation & Delivery category honors innovations in eco-friendly or sustainable energy, transportation, delivery and IoT technology, making life in the connected world a smarter, cleaner, greener and more efficient Internet of Everything.

“SXSW is thrilled to honor this year’s most innovative projects and give each finalist the opportunity to showcase their inventions to all SXSW attendees through interactive demos at the Finalist Showcase,” said Hugh Forrest, Chief Programming Officer, SXSW.

Velodyne’s Intelligent Infrastructure Solution

Velodyne’s Intelligent Infrastructure Solution creates a real-time 3D map of roads and intersections, providing precise traffic monitoring and analytics that is not possible with other types of sensors like cameras or radar. The solution stands out in how it improves traffic and crowd flow efficiency, advances sustainability and protects vulnerable road users. It reliably collects data in any lighting or weather condition, supporting year-round operation, while also protecting people’s privacy. The solution advances safety through multimodal analytics that detect various road users including vehicles, pedestrians and cyclists. It can predict, diagnose and address road safety challenges, helping municipalities and other customers make informed decisions to take corrective action. For more information on the Intelligent Infrastructure Solution, contact Velodyne Sales: 669.275.2526, sales@velodyne.com.

About Velodyne Lidar

Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne, the global leader in lidar, is known for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality, and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems (ADAS), robotics, unmanned aerial vehicles (UAV), smart cities and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all. For more information, visit www.velodynelidar.com.

Forward Looking Statements

This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, and competition. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," “can,” "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Velodyne's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include uncertainties regarding government regulation and adoption of lidar, the uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; uncertainties related to the ability of Velodyne's customers to commercialize their products and the ultimate market acceptance of these products; the rate and degree of market acceptance of Velodyne's products; the success of other competing lidar and sensor-related products and services that exist or may become available; uncertainties related to Velodyne's current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne's intellectual property; and general economic and market conditions impacting demand for Velodyne's products and services. For more information about risks and uncertainties associated with Velodyne’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Velodyne’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. All forward-looking statements in this press release are based on information available to Velodyne as of the date hereof, Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Source: Velodyne Lidar, Inc.

FAQ

What recognition has Velodyne received for its Intelligent Infrastructure Solution?

Velodyne's Intelligent Infrastructure Solution is a finalist in the SXSW Innovation Awards in the Smart Cities category.

When is the SXSW Innovation Awards ceremony?

The SXSW Innovation Awards ceremony is scheduled for March 14.

How does Velodyne's solution improve road safety?

The Intelligent Infrastructure Solution provides real-time traffic monitoring and analytics, enhancing road safety and efficiency.

In which locations has Velodyne deployed its Intelligent Infrastructure Solution?

The solution has been deployed in Texas, Florida, Nevada, California, New Jersey, Missouri, and Canada.

What impact does Velodyne's solution have on sustainability?

It reduces greenhouse gas emissions and improves energy efficiency by enhancing traffic flow and reducing congestion.