Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, and SICK AG today announced a strategic multi-year collaboration to bring Aeva’s FMCW (Frequency Modulated Continuous Wave) 4D LiDAR™ to a variety of industrial sensing applications including long range sensing, starting with Aeries™ II.
“We are pleased to partner with Aeva and work closely together to bring its FMCW technology to high performance industrial sensing applications,” said Dr. Niels Syassen, Member of the Executive Board responsible for Technology and Digitization at SICK. “We are convinced that their unique approach to FMCW technology, which includes instant velocity detection and long range performance, will provide new opportunities for us and our customers in a variety of industrial sensing applications where traditional time of flight LiDAR technologies are challenged.”
Aeva’s FMCW 4D LiDAR technology provides unique perception advantages over other sensing technologies like cameras and legacy 3D LiDAR sensors. This includes better dynamic range performance to perceive low and high reflectivity targets within the same measurement without edge effects, allowing automated machinery to transition easily from indoor to outdoor operation. Because Aeva’s technology is immune to blooming and ghosting from retroreflectors, automated machines using Aeva’s 4D LiDAR will have clear perception when highly reflective objects such as safety vests, cones and tape are in the field of view of the sensor. The technology clearly detects low and highly reflective objects such as safety vests, pylons and adhesive tapes in the sensor's field of view. FMCW helps increase reliability and efficiency in demanding 3D applications.
“SICK is one of the foremost leaders in industrial sensing solutions and today’s partnership is a major step forward for the advancement of high performance and reliable FMCW-based sensing across a broad set of industrial applications,” said Soroush Salehian, Co-founder and CEO at Aeva. “This strategic collaboration is a testament to the industry-leading performance and versatility of our unique 4D LiDAR technology for scaled deployment in industrial applications.”
About SICK AG
SICK is one of the world’s leading solutions providers for sensor-based applications in the industrial sector. Founded in 1946 by Dr.-Ing. e. h. Erwin Sick, the company with headquarters in Waldkirch im Breisgau near Freiburg ranks among the technological market leaders. With more than 50 subsidiaries and equity investments as well as numerous agencies, SICK maintains a presence around the globe. In the 2021 fiscal year, SICK had more than 11,000 employees worldwide and a group revenue of around EUR 2 billion. Additional information about SICK is available on the Internet at http://www.sick.com or by phone at +49 (0)7681202-4183.
About Aeva Technologies, Inc. (NYSE: AEVA)
Aeva’s mission is to bring the next wave of perception to a broad range of applications from automated driving to industrial robotics, consumer electronics, consumer health, security and beyond. Aeva is transforming autonomy with its groundbreaking sensing and perception technology that integrates all key LiDAR components onto a silicon photonics chip in a compact module. Aeva 4D LiDAR sensors uniquely detect instant velocity in addition to 3D position, allowing autonomous devices like vehicles and robots to make more intelligent and safe decisions. For more information, visit www.aeva.com, or connect with us on Twitter or LinkedIn.
Aeva, the Aeva logo, 4D LiDAR, Aeries, Ultra Resolution, 4D Perception, and 4D Localization are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners.
Forward looking statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) the ability to maintain the listing of Aeva’s securities on the New York Stock Exchange, (ii) the price of Aeva’s securities, which may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Aeva plans to operate, variations in performance across competitors, changes in laws and regulations affecting Aeva’s business and changes in the combined capital structure, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Aeva operates, (v) the risk that Aeva and its current and future collaborators are unable to successfully develop and commercialize Aeva’s products or services, or experience significant delays in doing so, (vi) the risk that Aeva may never achieve or sustain profitability; (vii) the risk that Aeva will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (viii) the risk that Aeva experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations, (x) the risk of product liability or regulatory lawsuits or proceedings relating to Aeva’s products and services, (xi) the risk that Aeva is unable to secure or protect its intellectual property; and (xii) the effects of the ongoing coronavirus (COVID-19) pandemic or other infectious diseases, health epidemics, pandemics and natural disasters on Aeva’s business. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors, and for a further discussion of the material risks and other important factors that could affect our financial results, please refer to our filings with the SEC, including our Form 10-Q for the quarter ended March 31, 2022. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations.
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