SUNNYVALE, Calif.- Quanergy Systems, Inc., (NYSE: QNGY) (“Quanergy” or “the Company”), a leading provider of LiDAR sensors and smart 3D solutions, announced today that The San Francisco Municipal Transportation Agency (SFMTA) has deployed Quanergy’s 3D LiDAR Flow Management solution integrated with TNL’s traffic flow management platform, to improve the travel time of San Francisco’s light rail vehicles as part of a Proof of Concept Pilot Project.
The SFMTA, a department of the City and County of San Francisco responsible for the management of all ground transportation in the city, deployed a signal timing program from July to August 2021 using Quanergy’s Flow Management solution consisting of its M-Series sensors and its QORTEX DTC™ 3D perception software. The goal was to reduce transit vehicle travel times so riders could avoid waiting at red lights and get to their destination faster while not delaying other road users. The SFMTA compared travel times for trains both prior and post installing the new technology. Working with TNL, Quanergy provided The SFMTA with a smart 3D LiDAR solution to help them measure and optimize traffic in real time.
“This project highlights the first time we’ve used LiDAR to detect people and automobiles,” said Robert Lim, Project Manager at The SFMTA. “We’ve seen a dramatic improvement as travel time per light rail vehicle was reduced by 66 seconds resulting in a travel time reduction of 16% across the project corridor. With this technology, the chance that a train will reach an intersection on a green light improved from 62.1% to 85.8%, and that means almost no red-light delay.”
“Quanergy’s LiDAR solution provided great accuracy in all weather and lighting conditions,” said Paul Hoekstra, Mobility Business Unit Director U.S.A. at TNL. “By installing these sensors, we can see day and night and pinpoint the exact location of objects in any climate conditions.”
“LiDAR is at the core of development in the future of #smartcities,” said Gerald Becker, VP of Market Development and Alliances at Quanergy. “We help government agencies and developers create smart city applications to improve infrastructure and impact their bottom line with our lower TCO, while preserving the privacy of citizens, with zero PII risk.”
For more information, visit www.quanergy.com.
About Quanergy Systems, Inc.
Quanergy’s (NYSE: QNGY and QNGY.WS) mission is to create powerful, affordable smart LiDAR solutions for automotive and IoT applications to enhance people’s experiences and safety. Quanergy has developed the only true 100% solid-state CMOS LiDAR sensor built on optical phased array (OPA) technology to enable the mass production of low-cost, highly reliable 3D LiDAR solutions. Through Quanergy’s smart LiDAR solutions, businesses can now leverage real-time, advanced 3D insights to transform their operations in a variety of industries including industrial automation, physical security, smart cities, smart spaces and much more. Quanergy solutions are deployed by nearly 400 customers across the globe. For more information, please visit us at www.quanergy.com.
Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project,” “will likely result” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements, including statements regarding the use of LiDAR in the development of smartcities. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside Quanergy’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; the overall level of consumer demand for Quanergy’s products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the ability to maintain the listing of Quanergy’s securities on the New York Stock Exchange; the financial strength of Quanergy’s customers; Quanergy’s ability to implement its business strategy; changes in governmental regulation, Quanergy’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to Quanergy’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of Quanergy’s suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on Quanergy and its suppliers and customers; Quanergy’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, Quanergy’s information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations; Quanergy’s ability to utilize potential net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks; and other risks and uncertainties indicated in Quanergy’s filings with the U.S. Securities and Exchange Commission. In addition, forward-looking statements reflect Quanergy’s expectations, plans or forecasts of future events and views only as of the date of this press release. Quanergy anticipates that subsequent events and developments will cause its assessments to change. However, while Quanergy may elect to update these forward-looking statements at some point in the future, Quanergy specifically disclaims any obligation to do so, except as required by law.
