LiDAR Solution Reduced False Alarms by Over
85%
Quanergy Systems, Inc., (NYSE:QNGY) a leading provider of LiDAR
sensors and smart 3D solutions, announced today that Nanjing Port
(Group) Co., Ltd., has successfully deployed Quanergy’s M-Series
LiDAR sensors. Quanergy’s partner, Nanjing Jiuao Technology Co.,
Ltd., developed the solution and managed the installation and
integration.
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Quanergy’s M-Series LiDAR Sensors Help
Busy Chinese Port Reduce Accidents and False Alarms (Graphic:
Business Wire)
Nanjing Port needed an effective detection and warning system to
help prevent warehouse damage and other potential accidents during
heavy equipment operations. The use case also required a system
that would trigger video surveillance cameras and record
events.
Prior to the selection of Quanergy, the port had been using a
passive infrared (PIR) sensor system, but the false alarm rate was
too high, up to 90% in some cases. Nanjing Jiuao selected
Quanergy’s LiDAR-based system to resolve these customer challenges,
leveraging some of the key benefits of Quanergy’s sensor solutions,
including:
- Accurate and reliable detection, even in harsh warehouse
environments;
- 3D object identification that can significantly reduce false
alarms caused by small animals like birds; and
- Coverage of a much larger area than other traditional sensors,
requiring fewer devices.
With the above features, Quanergy’s LiDAR-based system brought
the false alarm rate down to approximately 2% and fully met Nanjing
Port’s requirements for timely detection and warning
capabilities.
Sheng Teng, general manager, Nanjing Jiuao, said: “With
the data provided from Quanergy’s LiDAR system, our customer’s
warehouse team has been able to have a more accurate visual display
of the operations area. These added features allowed for a safer
environment and cut down on costly repairs that the Nanjing Port
Group was experiencing.”
Tony Rigoni, director of industrial markets, Quanergy
Systems, Inc., said: “As LiDAR technology matures, more use
cases arise across a number of industries. For ports, this
deployment with our partner Nanjing Jiuao demonstrates one of
LiDAR’s many uses in this setting. This deployment further extends
Quanergy’s presence in the port automation market, one of the first
industrial segments to embrace the power of 3D LiDAR.”
For more information, visit www.quanergy.com.
About Quanergy Systems, Inc.
Quanergy’s (NYSE: QNGY) 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 LiDAR sensors in
industrial segments and port automation systems and the ability of
our sensors to reduce false alarm rates. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220802005400/en/
Media Contact Shannon Van Every media@quanergy.com
Investors: QuanergyIR@ICRinc.com
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