Delivers Actionable Information up to 300
Meters and Beyond – Extending Critical Safety Envelope for Any
Smart Infrastructure Application
AEye, Inc. (NASDAQ: LIDR), the global leader in adaptive,
high-performance LiDAR solutions, and Seoul Robotics, a 3D computer
vision company using AI and deep learning to power the future of
autonomy, today announced the integration of AEye’s 4Sight M™ LiDAR
sensor and Intelligent Detection and Ranging (iDAR™) software
platform with Seoul Robotics’ SENSR™3D perception software. AEye’s
adaptive iDAR platform uniquely enables Seoul Robotics’ SENSR
perception software to deliver a complete solution for long-range
object detection, classification, and perception for Intelligent
Traffic Systems (ITS) by providing best-in-class 3D perception for
vehicles, cyclists, and pedestrians at distances beyond 300 meters.
To see a demonstration first-hand, visit Intetra Booth #B5431
during ITS World Congress, October 11-15, in Hamburg, Germany.
AEye’s intelligent LiDAR is software-definable, enabling system
integrators to address the unique sensing need of any ITS
application simultaneously, from intersection management to AV
infrastructure, Automatic Incident Detection (AID) on highways, and
automated tolling. Coupled with 4Sight M’s long-range capability,
the integrated AEye – Seoul Robotics solution will be able to
achieve object detection and classification in adverse weather
conditions and at ranges not currently available on the market.
“We’re extremely impressed with the adaptability of AEye’s
4Sight M sensor; it allows us to optimize output for different ITS
use cases,” said William Muller, VP of Business Development at
Seoul Robotics. “Similar to how our SENSR software uses artificial
intelligence to self-learn, AEye’s innovative architecture enables
Seoul Robotics to process advanced feedback loops and optimized
scan patterns. This allows us to not only track motorists across
all operational domains including roundabouts, 4-way intersections,
and toll booths, but also to now monitor high-speed traffic on
divided highways, which has been historically challenging in the
world of ITS.”
Built on AEye’s award-winning iDAR platform, 4Sight M is an
intelligent, adaptive, high-performance, and solid-state LiDAR that
tailors its output to application-specific requirements. It’s also
the first and only LiDAR solution whose performance has been
independently verified by a reputable third-party testing
organization. Active safety and automated vehicle technologies
researcher VSI Labs has confirmed and published the 4Sight M’s
breakthrough range, resolution, and speed capabilities.
Seoul Robotics has trained SENSR’s AI engine on the 4Sight M,
whose data quality is maintained in daylight and at nighttime, even
in adverse weather conditions. As a result, ITS integrators can
benefit from reliable classification of motorists around-the-clock,
even if some of the objects or obstacles are partially obstructed,
fast-moving, or clustered together. Deep learning models enable
SENSR to track more than 500 objects simultaneously with 10 cm
accuracy, and weather-filtering algorithms allow tracking
functionality in heavy rain and snow.
“ITS integrators typically don’t source individual sensors and
software, instead relying on complete solution providers for smart
mobility, traffic management, and automated tolling applications,
and that’s exactly what we’re delivering,” said Akram Benmbarek, VP
of Business Development and Strategic Initiatives at AEye. “With
the integration of the 4Sight M and SENSR, infrastructure
developers and city operators using this solution will be able to
evaluate data at high-risk intersections – including lane usage by
vehicle type, vehicle counts per lane, accident rates, and
near-misses – in adverse weather conditions and at distances beyond
300 meters. In addition, traffic management facilities will be able
to distinguish weaving motorcyclists during peak congestion and
detect road debris or fallen cargo to alert utility vehicles as
needed.”
Driven by the desire to advance transportation safety, mobility,
and environmental sustainability, analysts expect strong growth in
the ITS market. Research firm Markets and Markets predicts it will
grow from $17.9 billion in 2020 to $36.5 billion by 2025, with
another study projecting the total available market for LiDAR in
smart infrastructure to increase nine-fold from $1.5 billion in
2025 to $14 billion in 2030.
To see what a software-configurable sensor can do, and to
experience the 4Sight M performance in real-time, visit
aeye.ai/demo-the-4sight-m.
About AEye
AEye is the premier provider of intelligent, next generation,
adaptive LiDAR for vehicle autonomy, advanced driver-assistance
systems (ADAS), and robotic vision applications. AEye’s iDAR™
(Intelligent Detection and Ranging) system leverages biomimicry and
principles from automated targeting applications used by the
military to scan the environment, intelligently focusing on what
matters most, enabling faster, more accurate, and more reliable
perception. iDAR is the only software configurable LiDAR with
integrated deterministic artificial intelligence, delivering
industry-leading performance in range, resolution, and speed. The
company was founded in 2013 and is based in the San Francisco Bay
Area.
About Seoul Robotics
Seoul Robotics is a 3D computer vision company building a
perception platform that uses AI and deep learning to power the
future of mobility, robotics and smart cities. Founded in 2017,
Seoul Robotics has partnered with OEMs, system integrators, and
government agencies around the world to diversify the use of 3D
sensors and data. The company has developed its own proprietary
software, which is compatible with nearly all LiDAR and 3D data
sensors, to increase accuracy, efficiency and ensure safety across
a range of industries and applications. Seoul Robotics has offices
in Seoul, Raleigh, Munich, and Detroit and is backed by leading
global financial institutions. For more information, visit
http://www.seoulrobotics.org/.
Forward-Looking Statements
Certain statements included in this press release that are not
historical facts are forward-looking statements within the meaning
of the federal securities laws, including the safe harbor
provisions under the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements are sometimes
accompanied by words such as “believe,” “continue,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,”
“potential,” “seem,” “seek,” “outlook,” and similar expressions
that predict or indicate future events or trends, or that are not
statements of historical matters. Forward-looking statements are
predictions, projections, and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. These statements
are based on various assumptions, whether or not identified in this
press release. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as and
must not be relied on by an investor as a guarantee, an assurance,
a prediction, or a definitive statement of fact or probability.
Actual events and circumstances are very difficult or impossible to
predict and will differ from the assumptions. Many actual events
and circumstances are beyond the control of AEye. Many factors
could cause actual future events to differ from the forward-looking
statements in this press release, including but not limited to: (i)
the risks that AEye and Seoul Robotics will be unable to
effectively integrate the respective products to achieve market
acceptance by prospective customers; (ii) the risks that the
integrated solution will be supplanted by a competitor and not be
viewed as best-in-class by the marketplace; (iii) the risks that
lidar adoption occurs slower than anticipated or fails to occur at
all; (iv) the risks that the AEye product will not permit system
integrators to be able to address an adequate number of ITS
applications simultaneously sufficient for market acceptance; (v)
the risks that competitors may introduce into the market products
similar in capabilities to the integrated AEye-Seoul Robotics
solution and such competitive solution takes some or all of the
market share away from the AEye-Seoul Robotics solution; (vi) the
risks that the relationship between AEye and Seoul Robotics does
not yield the expected results or in the timeframe anticipated, or
that such relationship terminates sooner than expected; (vii) the
risks that AEye’s products will not meet the diverse range of
performance and functional requirements of AEye’s target markets
and customers; (viii) the risks that the results achieved in
testing may not be duplicated by customers in real world
applications; (ix) the risks that AEye’s products will not function
as anticipated by AEye or by AEye’s target markets and customers;
(x) the risks that AEye may not be in a position to adequately or
timely address either the near or long-term opportunities that may
or may not exist in the evolving intelligent transportation system
industry; (xi) the risks that the size of the total available
market for smart infrastructure, and, in particular, the use of
LiDAR, will be smaller than predicted or take longer to come to
fruition than predicted; (xii) the risk that laws and regulations
are adopted impacting the use of lidar that AEye is unable to
comply with, in whole or in part; (xiii) changes in competitive and
regulated industries in which AEye operates, variations in
operating performance across competitors, and changes in laws and
regulations affecting AEye’s business; (xiv) the risk that AEye is
unable to adequately implement its business plans, forecasts, and
other expectations, and identify and realize additional
opportunities, (xv) the potential inability of AEye to scale its
manufacturing capacity or to achieve efficiencies regarding its
manufacturing processes or other costs; and (xvi) the risk of
downturns and a changing regulatory landscape in the highly
competitive and evolving industry in which AEye operates. These
risks and uncertainties may be amplified by the COVID-19 pandemic,
which has caused significant economic uncertainty. The foregoing
list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties
described in the “Risk Factors” section of the registration
statement on Form S-4, that includes a definitive proxy
statement/prospectus, that AEye (formerly known as CF Finance
Acquisition Corp. III) filed with the U.S. Securities and Exchange
Commission (the “SEC”) and other documents filed by AEye or that
will be filed by AEye from time to time with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on
forward-looking statements; AEye assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. AEye gives no assurance that AEye will achieve any of
its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211007005365/en/
Media Contact: AEye, Inc. Jennifer Deitsch
jennifer@aeye.ai 925-400-4366
Seoul Robotics Ann Gargiulo ann.gargiulo@seoulrobotics.org
Investors: Financial Profiles, Inc. Matthew Keating, CFA
AEye@finprofiles.com 310-622-8230
John Brownell AEye@finprofiles.com 310-622-8489
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