SAN JOSE, Calif. (May 26, 2021) – Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced its Intelligent Infrastructure Solution, powered by Bluecity, was named a winner of the 2021 Smart 50 Award, recognizing the solution’s innovation in smart city applications. The awards, presented by Smart Cities Connect, have a highly competitive review process and honor the 50 most transformative smart cities projects in the world.
Velodyne’s Intelligent Infrastructure Solution helps governments solve some of their most challenging and pervasive infrastructure problems. The solution combines Velodyne’s award-winning lidar sensors and Bluecity’s powerful artificial intelligence (AI) software to monitor traffic networks and public spaces. It generates real-time data analytics and predictions to improve traffic and crowd flow efficiency, advance sustainability and protect vulnerable road users.
The Intelligent Infrastructure Solution is deployed in multiple North America cities, including in Quebec and British Columbia, with upcoming installations in New Jersey. To qualify for a Smart 50 Award, solutions must have achieved results at a municipal scale or equivalent.
Velodyne’s Intelligent Infrastructure Solution creates a real-time 3D map of roads and intersections, providing precise traffic monitoring and analytics that is not possible with other types of sensors like cameras or radar. It reliably collects data in any lighting or weather condition, supporting 24/7, 365 days a year operation, while also protecting people’s privacy. The solution advances safety through multimodal analytics that detect various road users including vehicles, pedestrians and cyclists. It can predict, diagnose and address road safety challenges, helping municipalities and other customers make informed decisions to take corrective action.
“The Smart 50 Award recognizes Velodyne’s Intelligent Infrastructure Solution as one the 50 best examples of smart cities technology at work in the world,” said Jon Barad, Vice President of Business Development, Velodyne Lidar. “The award demonstrates how this innovative lidar-based approach can transform roads and transportation infrastructure into smart cities, creating sustainable, safer communities.”
The Smart 50 Awards Gala will be held in Washington, D.C. this October, co-located with Smart Cities Connect Conference.
This press release contains “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, competition. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “can,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Velodyne’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include uncertainties regarding government regulation and adoption of lidar, the uncertain impact of the COVID-19 pandemic on Velodyne’s and its customers’ businesses; Velodyne’s ability to manage growth; Velodyne’s ability to execute its business plan; uncertainties related to the ability of Velodyne’s customers to commercialize their products and the ultimate market acceptance of these products; the rate and degree of market acceptance of Velodyne’s products; the success of other competing lidar and sensor-related products and services that exist or may become available; uncertainties related to Velodyne’s current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne’s intellectual property; and general economic and market conditions impacting demand for Velodyne’s products and services. Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.