Velodyne Lidar Signs Five-Year Sales Agreement with ThorDrive
Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced a five-year sales agreement to provide Ultra Puck™ sensors to ThorDrive, an autonomous technology company. ThorDrive is using Velodyne’s lidar sensors to power its cargo and baggage ground support tractors in a groundbreaking autonomous vehicle (AV) program at the Cincinnati / Northern Kentucky International Airport (CVG).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210210005224/en/
By utilizing ThorDrive’s vehicles, equipped with Velodyne Lidar’s Ultra Puck™ sensors, airlines are able to autonomously transport baggage and cargo to and from planes and throughout facilities at any time, day or night. (Photo: ThorDrive)
ThorDrive AVs, equipped with multiple Velodyne Ultra Puck sensors, were developed live in complex, safety-critical environments at CVG’s gates. Their proof of concept aims to advance airport safety and cargo efficiencies, with units to be sold by the end of 2021. In 2019, CVG, the 7th largest cargo airport in North America, handled over 1.2 million tons of cargo and baggage for more than 9.1 million passengers. By utilizing ThorDrive’s solution, airlines are able to autonomously transport baggage and cargo to and from planes and throughout facilities at any time, day or night. Safe, effective materials transit is critical to airlines for the protection and handling of goods while maintaining tight flight schedules.
ThorDrive chose Ultra Puck for its cargo transit vans because the sensor’s patented 3D surround view technology provides real-time object detection needed for safe, efficient navigation and dependable operation. Equipped with Velodyne’s lidar solutions, ThorDrive AVs use existing infrastructure and can operate in harsh weather conditions including rain, snow and ice, day and night. ThorDrive has been using Velodyne lidar sensors in developing its autonomous driving technology since 2010. ThorDrive is planning to expand its AV solutions further into the aviation ground support equipment market as well as to industrial and manufacturing applications.
“Our innovation partnerships focus on long-term viability and scale,” said Brian Cobb, Chief Innovation Officer for the Cincinnati / Northern Kentucky International Airport. “This agreement is a hallmark event towards ThorDrive’s capacity to scale up with Velodyne’s advanced sensor technology.”
“Velodyne is our trusted, long term partner to deliver high quality, reliable sensors at an affordable price point,” said Edward Shelton, VP of Business Development, ThorDrive. “Our software is tuned to their sensors’ state-of-the-art capabilities, advancing our efforts in providing transformative solutions for airline logistics and future applications of our autonomous technology. In working with Velodyne as the industry leader, we will be able to realize the future of moving cargo, equipment and materials.”
“We are thrilled to work with ThorDrive as they deliver trailblazing AV cargo transit programs to airports in North America and around the world, advancing safety and efficiency,” said Laura Wrisley, VP of North American Sales, Velodyne Lidar. “They have been on the forefront of innovation for delivery and logistics and we are proud to work with them along the way. ThorDrive AVs show that Velodyne’s lidar sensors provide the range and field of view needed to gain visibility in complex environments to detect and avoid obstacles for safe logistics transport.”
About Velodyne Lidar
Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne is the first public pure-play lidar company and is known worldwide for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems (ADAS), robotics, unmanned aerial vehicles (UAV), smart cities and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all. For more information, visit www.velodynelidar.com.
ThorDrive is a full-stack developer of autonomous driving technology for the aviation, industrial and tier 1 automotive markets. With operations in South Korea and headquarters in Cincinnati, Ohio, ThorDrive has developed autonomous solutions for the safe and efficient movement of materials, cargo, baggage and people since 2016. Through industry, manufacturing and customer partnerships, ThorDrive’s main focus is to proliferate their autonomous solutions in industries and with customers that are driven to develop and implement technologies that enhance safety while maintaining a competitive edge. For more information, visit www.thordrive.ai.
Forward Looking Statements
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 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 uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; uncertainties related to Velodyne's estimates of the size of the markets for its products; uncertainties regarding government regulation and adoption of lidar for pedestrian safety, traffic congestion and smart city applications; 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; Velodyne's ability to identify and integrate acquisitions; 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.
Chief Financial Officer
Landis Communications Inc.
VP – Business Development
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IFF Declares Dividend for Second Quarter 20215.5.2021 22:15:00 CEST | Press release
IFF (NYSE: IFF) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.77 per share of its common stock, payable on July 6, 2021 to shareholders of record as of June 25, 2021. Welcome to IFF At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn. View source version on businesswire.com: https://www.businesswire.com/news/home/20210505006076/en/Contact information Michael DeVeau Chief Investor Relations & Communications Officer 212.708.7164 Mich
Zynga Announces First Quarter 2021 Financial Results5.5.2021 22:05:00 CEST | Press release
Zynga Inc. (Nasdaq: ZNGA) today released financial results for its first quarter ended March 31, 2021 by posting management’s Q1 2021 Quarterly Earnings Letter to its Investor Relations website. Please see the attached Quarterly Earnings Letter or visit http://investor.zynga.com/financial-information/quarterly-results to access the letter. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210505005238/en/ “We are off to an excellent start in 2021 with record Q1 results driven by breakout performances from our live services, new games and hyper-casual portfolio,” said Frank Gibeau, Chief Executive Officer at Zynga. “Today, we announced our intent to acquire Chartboost, a leading advertising and monetization platform. This transformational acquisition will combine Zynga’s high-quality games portfolio and first-party data with Chartboost’s proven advertising and monetization platform to create a new level of audience scale and mea
Zynga Enters Agreement to Acquire Chartboost5.5.2021 22:05:00 CEST | Press release
Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, today announced it has entered into a definitive agreement to acquire Chartboost, a leading mobile programmatic advertising and monetization platform. Along with its talented team, Chartboost brings a global audience of more than 700 million monthly users and more than 90 billion monthly advertising auctions. Together, Zynga and Chartboost possess all the elements of a complete, next generation platform: high-quality content, direct player relationships, massive reach and full-stack advertising technology that can be applied across Zynga’s game portfolio and Chartboost’s advertising partners. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210505005033/en/ Zynga Enters Agreement to Acquire Chartboost Chartboost is a unified advertising platform that includes a Demand Side Platform (DSP) as well as Supply Side Platform (SSP) and mediation capabilities del
Altasciences Acquires Calvert Laboratories5.5.2021 18:59:00 CEST | Press release
Altasciences, a forward-thinking CRO/CDMO supporting all crucial steps in early-stage drug development, from lead candidate selection to clinical proof of concept, announced today that they have completed the acquisition of Calvert Laboratories, a preclinical CRO located on the U.S.A.’s East Coast. This acquisition will complement Altasciences’ current preclinical West Coast operations, located just north of Seattle, WA. For more than 40 years, Calvert Laboratories has been working with clients to help develop the next generation of therapeutics aimed at extending and improving human life; in line with Altasciences’ focus on getting better drugs to the people who need them faster. “This acquisition will increase small molecule expertise as well as add efficacy pharmacology, ophthalmology, and carcinogenicity study capabilities, to Altasciences’ current preclinical offering. Furthermore, it expands Altasciences’ presence on the East Coast, and the site is conveniently located in close p
RMS Global Catastrophe Model Leader Launches First Climate Change Models, Enabling New Risk Insights5.5.2021 17:14:00 CEST | Press release
RMS, the world’s leading catastrophe risk modeling and solutions company, revealed that according to its new Climate Change Models, and based on today’s exposures, insured average annual losses (AAL) from North Atlantic Hurricane wind could increase by as much as 24 percent by 2050*, and European Flood risk AAL could increase by up to 59 percent by 2050**, based on no mitigating factors taken. The new RMS Climate Change Models combine the RMS financial impact modeling framework with the best climate science consensus, including from the Intergovernmental Panel on Climate Change (IPCC). Generally available in June 2021, these models provide the most comprehensive climate change insights for North Atlantic Hurricane, Europe Inland Flood, and Europe Windstorm. Each model quantifies and differentiates the impacts of acute physical risk due to variable potential climate change scenarios (known as Representative Concentration Pathways or RCPs), different time horizons, and within specific re
Nel ASA: Receives Purchase Order for 2 MW PEM Electrolyser5.5.2021 16:46:00 CEST | Press release
Nel Hydrogen Electrolyser, a division of Nel ASA (Nel, OSE:NEL), received a purchase order for a 2 MW, fully containerized MC400 electrolyser from H2 Energy. "This is a new milestone achieved in the development of a commercial green hydrogen infrastructure, clearly showing that hydrogen for heavy duty vehicles is a reality today. We are proud that our compact PEM containerized solution has been selected for this second site to supply the refueling stations network," says Raymond Schmid, VP Sales and Marketing EMEA, Nel Hydrogen Electrolyser. The 2 MW PEM electrolyser is the second system to be delivered as part of the green hydrogen infrastructure network that is currently supplying hydrogen to the first 46 Hyundai trucks already operating in Switzerland and aiming to reach a fleet of 1,600 by 2025. The system will be filling 350 barg trailers directly at site to dispatch the hydrogen to the Hydrospider network in Switzerland. H2 Energy is working together with various partners to esta
Sevan Multi-Site Solutions Celebrates 10 Years5.5.2021 15:00:00 CEST | Press release
Sevan Multi-Site Solutions, Inc. (Sevan)—a global leader in innovative design, program management, construction services and data analytics—is excited to celebrate its 10th anniversary. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210505005438/en/ Sevan Multi-Site Solutions celebrates its 10th Anniversary. (Graphic: Business Wire) For a decade, Sevan has committed to providing multi-site solutions for dozens of clients along entire project life cycles. Sevan stays true to the values and core principles it was founded on: Integrity, Respect, Teamwork, Excellence and Charity. Since its inception, Sevan’s entrepreneurial spirit has been accompanied by a culture that is innovative, respectful, inclusive and progressive. “What a joy it has been to work with marvelous people over the last decade while we grew our business,” Jim Evans, President and CEO said. “Thanks so much to our clients, business partners and Sevan team member
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom