Velodyne Lidar Wins Patent Challenge Brought by Quanergy in Federal Circuit Court of Appeals

Rhea-AI Summary

The U.S. Ninth Circuit Court of Appeals has upheld the validity of Velodyne's patent 7,969,558, which pertains to lidar-based 3D point cloud measuring systems. This ruling supports Velodyne's position in a patent challenge from competitor Quanergy. CEO Ted Tewksbury emphasized the significance of the decision for Velodyne, highlighting their foundational patents in surround view lidar technology. Velodyne aims to protect its intellectual property and is assessing enforcement options against competitors. The company's lidar technology facilitates critical 3D vision for diverse autonomous applications, promoting safety and sustainability.

Positive

• U.S. Ninth Circuit Court upheld the validity of Velodyne's patent 7,969,558.
• Confirmation strengthens Velodyne’s intellectual property position in lidar technology.
• Patent relates to critical applications in robotics, autonomous vehicles, and safety systems.

Negative

• None.

U.S. Ninth Circuit Court of Appeals Upholds Validity of Velodyne’s U.S. Patent 7,969,558

SAN JOSE, Calif.--(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced it has won a patent challenge brought by competitor Quanergy. In making its ruling, the U.S. Ninth Circuit Court of Appeals upheld the patentability of all claims in Velodyne’s pioneering 7,969,558 patent. The ‘558 patent relates to a lidar-based 3D point cloud measuring system used for robotics, industrial solutions, intelligent infrastructure, autonomous vehicles, advanced driver assistance systems (ADAS) and other applications.

“Velodyne is pleased with the Federal Circuit’s decision, which confirms the validity of our groundbreaking patent for surround view lidar technology,” said Dr. Ted Tewksbury, CEO, Velodyne Lidar. “We were confident we would prevail because our company invented real-time surround view lidar and holds a number of foundational patents relative to this technology. Velodyne is an invention-driven company with intellectual property that is fundamental to the industry. We are committed to protecting our valuable intellectual property assets and are evaluating our options for enforcement against Quanergy and all other infringers.” 

Velodyne’s lidar technology provides critical 3D vision for autonomous solutions in a wide variety of industries to achieve a safer, more efficient and sustainable future. The company’s award-winning lidar sensors deliver the flexibility, quality and performance to meet the needs of industrial and robotics, intelligent infrastructure, automotive and other markets.

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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Velodyne Investor Relations

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Source: Velodyne Lidar, Inc.

FAQ

What did the U.S. Court of Appeals rule regarding Velodyne's patent?

The U.S. Ninth Circuit Court of Appeals upheld the validity of Velodyne's patent 7,969,558.

What is the significance of Velodyne's patent 7,969,558?

The patent is crucial for lidar-based 3D point cloud measuring systems used in various applications like autonomous vehicles and robotics.

Who is the competitor that challenged Velodyne's patent?

The competitor that challenged Velodyne's patent is Quanergy.

How does Velodyne plan to respond to the patent challenge?

Velodyne is evaluating options for enforcement against Quanergy and other potential infringers.

What is Velodyne's stock symbol?

Velodyne's stock symbols are VLDR and VLDRW.