Quanergy Systems, Inc., (NYSE: QNGY and QNGY.WS) a leading
provider of OPA-based solid-state LiDAR sensors and smart 3D
solutions for automotive and IoT, announced today that Digital
Mortar has selected Quanergy Smart LiDAR portfolio to provide a
broad range of innovative flow management solutions for retail
applications. These solutions can also be applied to stadiums,
casinos, public transit centers, conventions, events, and even
museum spaces.
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Quanergy Selected by Digital Mortar to
Disrupt Flow Management for Retail (Graphic: Business Wire)
Digital Mortar has developed an innovative platform, called DM1,
that has truly embraced the 3D capabilities of Quanergy’s M-Series
sensors and Qortex DTC™ perception software, that together can
track, detect and classify hundreds of people in crowded
environments under any lighting conditions while preserving
people’s privacy.
The tightly integrated solution provides a comprehensive, full
shopper journey measurement that combines detailed in-store shopper
behavior, Point of Sale (PoS) results, labor tracking, and weather
into a single, powerful SaaS analytics tool measuring store
performance. With the Quanergy and Digital Mortar solution you can
capture highly detailed information of customers and guest
experience. For instance, you can allow retail stores to measure
every aspect of display performance (traffic, flow, engagement, and
even product interactions) while the machine learning-based queue
tracking detection of groups and non-buyers delivers an accurate
customer count and time at each phase of the checkout process.
“Quanergy 3D LiDAR has rapidly become a key technology in retail
people measurement and public-spaces for crowd-management,” said
Gary Angel, CEO of Digital Mortar. “We’re seeing remarkably rapid
adoption of LiDAR as a people-measurement technology. That adoption
is driven by LiDAR’s environmental flexibility, coverage advantage
in comparison to traditional camera, and privacy compliance. We
expect Quanergy LiDAR products to account for 30-40% of sensors
we’ll install in 2022.”
“We are excited that Digital Mortar has chosen Quanergy’s Flow
Management platform to disrupt the retail market,” said Enzo
Signore, CMO of Quanergy Systems. “Our integrated solution provides
powerful insights into the shopper’s journey with unmatched
accuracy, at a much lower total cost of ownership compared to
cameras, while providing 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 our product portfolio in
a broad range of flow management solutions, the capabilities of our
products in crowded environments and under any lighting conditions,
the rapid adoption of LiDAR as a people-measurement technology, and
the expectation that our sensors will account for 30-40% of Digital
Mortar’s installations in 2022. 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.
Source: Quanergy Systems, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20220223005548/en/
Media Contact Neal Stein Media@quanergy.com
Investors: QuanergyIR@ICRinc.com
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