Summit to Highlight the Importance of Lidar in
Enabling Smart Vehicles and Infrastructure to Tackle Growing Number
of Traffic Fatalities on U.S. Roadways
AEye, Inc. (NASDAQ: LIDR), a global leader in adaptive,
high-performance lidar solutions, today announced its participation
in the inaugural Lidar Coalition Policy Summit, taking place in
Washington, D.C. A founding member of the Lidar Coalition, AEye is
focused on leveraging lidar’s unique sensing capabilities to reduce
traffic fatalities - creating a safer and smarter world.
Just last week, the National Highway Traffic Safety
Administration previewed its estimates of U.S. traffic fatalities
for 2021. The numbers are disturbing, with 42,915 deaths marking a
10.5% increase over 2020, and the highest number of fatalities on
U.S. roadways since 2005. Pedestrian deaths are also on the rise,
with 75% of those taking place in low-light conditions, an area
where lidar excels.
At the summit, Lidar Coalition members will both educate and
advocate - addressing how lidar complements cameras and radar to
better address USDOT priorities of safety, equity and accessibility
for every member of the traveling public. AEye’s SVP and GM of
Mobility Products, Brent Blanchard, will moderate a panel focused
on the government’s role in how the technology fits into a safe
systems approach, and where emerging technologies, including lidar,
fit within public policy. Speakers and panel participants include
Congressman Peter DeFazio, chair of the House Committee on
Transportation and Infrastructure; Egan Smith, Managing Director of
the U.S. Department of Transportation’s Intelligent Transportation
Systems Joint Program Office; and executives from lidar
companies.
“The growing number of fatalities on our nation’s roads is a
tragedy that we can and must end,” said Blanchard. “We, as
technology innovators and leaders, must leverage the best
technology we have to help our cars and infrastructure become
smarter, and to prevent devastating crashes before they happen. At
AEye, we believe without a doubt that lidar, with its ability to
deliver precise measurement and high-resolution imaging across a
wide variety of lighting conditions and obscurants, will be
critical to advancing road safety.”
AEye’s 4Sight™ Intelligent Sensing Platform utilizes adaptive
lidar to improve the probability of detection and accuracy of
classification – complementing existing sensors and increasing the
speed and accuracy of decision-making. As a software-definable
platform, 4Sight facilitates the release of new industry-advancing
applications across the scale of autonomy, future-proofing
automotive development and paving the way for the software-defined
car. AEye’s Tier 1 automotive partners, such as Continental,
leverage 4Sight’s modular system design and software
programmability to design, manufacture and market their own unique
products based on AEye’s patented sensor design and software.
About AEye
AEye’s unique software-defined lidar solution enables advanced
driver-assistance, vehicle autonomy, smart infrastructure,
logistics and off-highway applications that save lives and propel
the future of transportation and mobility. AEye’s 4Sight™
Intelligent Sensing Platform, with its adaptive sensor-based
operating system, focuses on what matters most: delivering faster,
more accurate, and reliable information. AEye’s 4Sight™ products,
built on this platform, are ideal for dynamic applications which
require precise measurement imaging to ensure safety and
performance. AEye has a global presence through its offices in
Germany, Japan, Korea and the United States.
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. Forward looking
statements included in this press release include statements about
AEye’s products and the use cases for such products, as well as the
use of lidar generally, among others. 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 the use of lidar will not reduce traffic fatalities
or other traffic-related incidents to the extent anticipated,
especially in low-light conditions, or at all; (ii) the risks that
lidar will not sufficiently complement cameras and radar to better
address DOT priorities, which priorities may shift over time,
including, safety, equity, and accessibility, to the extend
expected, or at all; (iii) the risks that neither federal, state,
nor local governments will sufficiently support emerging
technologies, including lidar, as a part of public policy or
government-built infrastructure, such that lidar is not adopted on
a widespread basis, or at all; (iv) the risks that lidar will not
deliver sufficiently precise measurements nor high-resolution
imaging sufficient to advance road safety; (v) the risks that
AEye’s software definable platform will sufficiently facilitate the
release of new applications, future proof development, or enhance
the ability of automakers to create a software-defined car; (vi)
the risks that automakers’ will not pursue the software-defined car
in the timeframe anticipated, or at all; (vii) the risks that
AEye’s adaptive lidar will not provide a design advantage in the
opinion of AEye’s customer, or others, over other lidar systems;
(viii) the risks that AEye is not now, nor in the future, the only
company with an adaptive sensor platform that can be configured via
software for different vehicle placements, use cases, and markets;
(ix) the risks that AEye will be unable to deliver world leading
performance to its customers as quickly as anticipated, or at all;
(x) the risks that AEye will be able to successfully launch
products into the market, or at all; (xi) the risks that lidar
adoption occurs slower than anticipated or fails to occur at all;
(xii) 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 autonomous transportation
industry; (xiii) the risks that adoption of software-defined lidar
occurs slower than anticipated, or fails to occur at all; (xiv) the
risks that laws and regulations are adopted impacting the use of
lidar that AEye is unable to comply with, in whole or in part,
changes in competitive and regulated industries in which AEye
operates, variations in operating performance across competitors,
and changes in laws and regulations affecting our business; (xv)
the risks that AEye is unable to adequately implement our business
plans, forecasts, and other expectations, and identify and realize
additional opportunities; and (xvi) the risks 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, including
the Delta, Omicron, Deltacron, and future variants and subvariants,
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 Quarterly Report on
Form 10-Q that AEye has most recently filed with the U.S.
Securities and Exchange Commission, or the SEC, and other documents
filed by us or that will be filed by us 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220525005362/en/
Media: Jennifer Deitsch AEye jennifer@aeye.ai
925-400-4366
Andie Davis Landis Communications Inc. AEye@landispr.com
415-717-9133
Investors: Clyde Montevirgen AEye cmontevirgen@aeye.ai
925-400-4366
Will Stack Lambert & Co. AEye@lambert.com 212-971-9718
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