HAMBURG, Germany--(BUSINESS WIRE)--ITS World Congress – AEye, Inc. (NASDAQ: LIDR), the global leader in adaptive, high-performance LiDAR solutions, and Intetra, a premier provider of end-to-end solutions for Intelligent Transportation Systems (ITS) and Electronic Toll Collection Systems (ETC), announced they are jointly showcasing advanced tolling automation capabilities at ITS World Congress. The companies are demonstrating how the advanced feedback loops and optimized scan patterns of AEye’s 4Sight™ M LiDAR enable high resolution detection in tolling areas regardless of vehicle type, speed, traffic flow, light, or weather conditions. To see a demonstration of AEye’s LiDAR, visit Intetra booth # B5431 October 13-15 at ITS World Congress in Hamburg, Germany.
Intetra designs, builds, integrates, and implements ITS and ETC technology customized to meet the needs of transportation authorities. This includes electronic RFID tolling systems, which have historically used cameras, sensors, lighting systems, and back-end software to increase the operational efficiency and convenience of toll collection. At ITS World Congress, Intetra is showcasing how it can further improve detection tolling accuracy using AEye’s adaptive, solid state LiDAR.
LiDAR is the only deterministic sensor that provides the specific data needed for ITS applications due to its ability to precisely establish where an object is going (vector and velocity). AEye’s LiDAR goes a step further, providing an intelligent, high-performance LiDAR that enables the customization of scanning capabilities for any ITS application.
“As an additive sensor with built-in intelligence, AEye’s LiDAR is able to adjust its scan pattern in real-time to optimize for various environmental and traffic conditions - a game-changer for automated tolling applications,” said Kamil Alpaydin at Intetra. “This software-definability is key in obtaining optimal performance for any tolling use case, and delivers a level of efficiency and safety not possible with cameras alone.”
“We’re proud to be showcasing our solution with Intetra, an ITS system integrator known for excellence in delivering best-of-breed highway Electronic Toll Collection (ETC) integration services,” said Akram Benmbarek, VP of Strategic Initiatives at AEye. “With AEye’s unique flexibility to adapt to changing conditions, demands and use cases on the fly, Intetra is well-positioned to help transportation authorities streamline vehicle flow on highways and at toll plazas through smarter, more efficient perception.”
Built on AEye’s award-winning iDAR platform, 4Sight M is the first and only LiDAR solution whose performance has been independently verified by a reputable third-party testing organization. VSI Labs, the leading active safety and automated vehicle technologies researcher, published a report this year confirming 4Sight M’s breakthrough range, resolution, and speed capabilities. 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 Intetra
Founded in 2005, Intetra is an innovative market leader within Intelligent Transport Systems (ITS) and Electronic Toll Collection Systems (ETC). Intetra manufactures hardware, as well as develops state of the art in-house software solutions to optimize energy efficient and climate friendly systems which monitor and manage complex traffic and mobility challenges. Our clients are public as well as private operators. Products include Variable Message Signs (VMS), Variable Traffic Signs (VTS), Passenger Information Systems, Road Safety Solutions, Traffic Signal Systems, Smart City Solutions, Monitoring & Management systems, and many more. Intetra provides end-to-end solutions for RFID Electronic Toll Collection, starting from design, through technology development, production, consulting, installation, training, service, maintenance and management.
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 an integrated solution will be supplanted by a competitor and not be viewed as best-in-class by the marketplace; (ii) the risks that lidar adoption occurs slower than anticipated or fails to occur at all; (iii) the risks that competing technologies will improve overtime to become operationally equivalent or more cost-effective, or both; (iv) the risks that competitors may introduce into the market products similar in capabilities to the integrated solution and such competitive solution takes some or all of the market share away from the AEye; (v) the risks that the relationship between AEye and Integra does not yield the expected results or in the timeframe anticipated, or that such relationship terminates sooner than expected; (vi) the risks that AEye’s products will not meet the diverse range of performance and functional requirements of AEye’s target markets and customers; (vii) the risks that the results achieved in testing may not be duplicated by customers in real world applications; (viii) the risks that AEye’s products will not function as anticipated by AEye or by AEye’s target markets and customers; (ix) 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; (x) 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; (xi) 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; (xii) 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; (xiii) the risk that AEye is unable to adequately implement its business plans, forecasts, and other expectations, and identify and realize additional opportunities, (xiv) the potential inability of AEye to scale its manufacturing capacity or to achieve efficiencies regarding its manufacturing processes or other costs; and (xv) 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.
