Velodyne Lidar’s Velabit™ Wins Silicon Valley Robotics Innovation Award

Velodyne Lidar, Inc. (Nasdaq: VLDR) today announced its Velabit™ lidar sensor was named the winner of the 2020 Innovation Award by Silicon Valley Robotics. The Velabit, Velodyne’s smallest sensor, brings new levels of versatility and affordability to 3D lidar perception. It is a cornerstone solution in Velodyne’s mission to transform lives by advancing safe mobility and smart autonomy through access to the company’s innovative lidar technologies.

Velodyne Lidar’s Velabit™ sensor brings new levels of versatility and affordability to 3D lidar perception for autonomous solutions. (Photo: Velodyne Lidar, Inc.)

“Having Velabit selected for the Innovation Award by Silicon Valley Robotics demonstrates the continuing strong industry recognition of Velodyne’s inventive track record,” said Anand Gopalan, CEO, Velodyne Lidar. “Velodyne is honored to have the Velabit named as a groundbreaking product for mobile robotic applications. With its combination of performance, size and price position, the Velabit is a breakthrough sensor for powering autonomous mobile robots in a wide array of industries worldwide.”

The Velabit addresses the cost, safety and design challenges of autonomous solutions while delivering strong sensor performance. This solid-state lidar sensor is highly configurable for specialized use cases and can be embedded almost anywhere within robots, vehicles, unmanned aerial vehicles (UAV) and infrastructure. Leveraging Velodyne’s innovative design technology and manufacturing partners, the Velabit is designed to be easy to manufacture at mass production levels.

Velodyne also provides the recently introduced Velarray M1600 for mobile robotic applications. The solid state lidar sensor enables touchless mobile and last-mile delivery robots to operate autonomously and safely, without human intervention. The Velarray M1600 provides autonomous robots with outstanding near-field perception up to 30 meters and a broad 32-degree vertical field of view, allowing them to traverse unstructured and changing environments.

Silicon Valley Robotics is the largest cluster of robotics and AI technology innovation and investment in the world. Its Innovation Award recognizes an outstanding early stage technology or product developed recently that will create an impact in the robotics industry.

About Velodyne Lidar

Velodyne Lidar (NASDAQ: VLDR) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne is the first public pure-play lidar company and is known worldwide 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, competition. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "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 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 uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; uncertainties related to Velodyne's estimates of the size of the markets for its 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; Velodyne's ability to identify and integrate acquisitions; 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. 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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