Lidar Map Construction system suitable for any three-dimensional Environment
$Velodyne Lidar (VLDR.US)$Today announced a multi-year agreement to provide GreenValley International with lidar sensors for handheld, mobile and unmanned aerial vehicle (UAV) 3D mapping solutions and for GPS restricted environments. Velodyne has begun to ship sensors to GreenValley under the agreement.
GreenValley leverages Velodyne's Puck lidar sensors to provide sensing and navigation capabilities, enabling its system to leverage synchronous positioning and map construction (SLAM) technology in mobile map building solutions. Thanks to the scanning capability of lidar without GPS, forestry personnel, archaeologists, civil engineers and surveyors can build powerful data sets without preparing in advance or using complex post-processing software. Velodyne's energy-efficient, multi-functional sensors enable GreenValley to integrate its technology into products of all form factors, such as backpacks, drones / UAV and handheld mobile devices that can be used in a variety of indoor and outdoor environments, regardless of temperature, light or precipitation.
Dr. Qinghua Guo, CEO of GreenValley International, said, "with Velodyne's industry-leading lidar sensors, GreenValley not only enables innovation, but also provides cutting-edge and reliable 3D mapping solutions for a variety of industries. Currently, Velodyne's lidar sensors support specific models in our aeronautical and handheld map construction catalogs. We have received high praise from end users, so we are excited about the future cooperation between the two sides. "
Dr. Ted Tewksbury, CEO of Velodyne Lidar, said, "GreenValley is changing industries through its innovative and reliable lidar 3D map construction solution. With the support of Velodyne lidar sensors, GreenValley's range of aeronautical and mobile map building products significantly improves data processing efficiency, saving time and reducing costs for customers around the world. "
About Velodyne Lidar
Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autopilot technology through the invention of real-time surround view lidar sensor. Velodyne is a global leader in lidar and is renowned for its broad portfolio of groundbreaking lidar technologies. Velodyne's revolutionary sensor and software solutions provide flexibility, quality and performance to meet the needs of a variety of industries, including robotics, industry, intelligent infrastructure, self-driving cars and advanced driving assistance systems (ADAS). With continuous innovation, Velodyne is committed to changing lives and communities by promoting safe travel for all.
About GreenValley International
GreenValley International is a leader in comprehensive 3D mapping and mapping solutions. GreenValley specializes in lidar and image fusion technology, specializing in lidar, UAV, SLAM, photogrammetry and other technologies to achieve accurate digital presentation of three-dimensional space. GVI's high-precision lidar scanning systems such as LiAir (UAV/ fixed wing), LiMobile (vehicle), LiBackpack and LiPod (ground) help create smart cities and provide smart solutions for energy, agriculture, forestry, road engineering, geographic information (GIS), mining and more. LiDAR360, LiPowerline, LiStreet, and other GVI software solutions provide core processing and analysis capabilities for accurate point cloud editing and visualization.
Forward-looking statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, all statements other than historical facts, as well as statements regarding Velodyne's target markets, new products, development efforts and competition. The words "estimate", "expect", "predict", "plan", "intend", "think", "seek", "may", "will", "can", "should", "future", "proposal" and other words used in this press release, as well as variants or similar expressions of these words (or negative forms of such words or expressions), are intended to identify forward-looking statements. Such forward-looking statements do not guarantee future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are not controlled by Velodyne and could cause actual results to differ materially from those discussed in the forward-looking statements. Important factors that could affect actual results include: the impact of the current COVID-19 epidemic on Velodyne and its customers and providers, and then on our business and financial situation; supply chain problems in the semiconductor market; Velodyne's ability to execute its business plan; and the timing of revenue from existing customers, including uncertainties related to the ability of Velodyne customers to commercialize their products and the final market acceptance of these products Uncertainties related to Velodyne's estimates of the market size and future revenue opportunities of its products (including projects that have not yet been signed or awarded); the fees associated with the exercise of Amazon.Com Inc's warrants (Amazon Warrant); the market acceptance of Velodyne Lidar products in various industries; and the success of other existing or possible competitive products and services related to lidars and sensors. Increased costs adversely affecting Velodyne's profitability; uncertainties relating to Velodyne Lidar's current litigation and potential litigation related to Velodyne Lidar or the validity or enforceability of Velodyne intellectual property rights; and the risk that the proposed merger with Ouster may be postponed or failed to commence due to various reasons (including failure of either party to obtain a shareholder vote or postponement of such vote, or termination of the agreement by either party in accordance with customary practice, etc.) During the proposed merger, our business was disrupted, including management distractions and reactions from business partners and employees; the risk of negative publicity and litigation resulting from the proposed merger; changes in management schedule as a result of the proposed merger; the customary operating contract in the merger agreement limits Velodyne Lidar's ability to take certain actions without Ouster's consent (not to be unreasonably refused) Risks that the merged company may not be able to realize the expected benefits and cost savings of the merger; Velodyne Lidar works with and relies on third-party manufacturers; overall economic and market conditions that affect demand for Velodyne Lidar products and services; and changes in applicable laws or regulations.
For more information about the risks and uncertainties associated with Velodyne's business, please refer to the "Management discussion and Analysis of Financial position and operating results" and the "risk factors" section of Velodyne's filings with the Securities and Exchange Commission (SEC), including, but not limited to, the Form 10Muk Annual report and the Form 10Muq Quarterly report. All forward-looking statements in this press release are based on information obtained by Velodyne prior to the date of release, and unless otherwise provided by law, Velodyne is under no obligation to update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.
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Contacts
Investor relations
Jordan Darrow
Darrow Associates, Inc.
InvestorRelations@velodyne.com
media
Jane Maynard
Velodyne Lidar
PR@velodyne.com