Cyngn has announced progress of its proprietary computer vision
(CV) technology for industrial autonomous machines, built on NVIDIA
accelerated computing.
MENLO
PARK, Calif., Nov. 7, 2024
/PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) has announced progress of
its proprietary computer vision (CV) technology for industrial
autonomous machines, built on NVIDIA accelerated computing. This
announcement showcases the cutting-edge capabilities of Cyngn's
DriveMod solutions, highlighting how NVIDIA hardware and CUDA
acceleration libraries have enabled Cyngn to develop differentiated
self-driving features with artificial intelligence (AI), CV, and
localization and mapping.
The DriveMod system has been successfully deployed on material
handling vehicles from established manufacturers like BYD, Motrec,
and Columbia Vehicle Group, catering to a diverse range of clients
from private manufacturing and distribution companies to Fortune
100s like John Deere.
In collaboration with Arauco, which pre-ordered 100 DriveMod
Forklifts last summer, Cyngn leveraged NVIDIA technologies to
introduce sophisticated features to advance the capabilities of
autonomous machines in industrial settings. The DriveMod Forklift
showcases exciting capabilities in computer vision, including
enumeration of the number of pallets in a tall stack and detection
of non-standard pallet pockets.
For full details, see Cyngn's blog post.
"Cyngn has been a part of the NVIDIA Inception program since our
early days working on AI technology," said Cyngn's Chairman and
Chief Executive Officer, Lior Tal.
"Seeing years of collaboration evolve from research and development
to deploying unique product features for end customers is not only
exciting, but it is also a testament to the power of NVIDIA's
cutting-edge technologies."
About Cyngn
Cyngn develops and deploys scalable,
differentiated autonomous vehicle technology for industrial
organizations. Cyngn's self-driving solutions allow existing
workforces to increase productivity and efficiency. The Company
addresses significant challenges facing industrial organizations
today, such as labor shortages, costly safety incidents, and
increased consumer demand for eCommerce.
Cyngn's DriveMod Kit can be installed on new industrial vehicles
at end of line or via retrofit, empowering customers to seamlessly
adopt self-driving technology into their operations without high
upfront costs or the need to completely replace existing vehicle
investments.
Cyngn's flagship product, its Enterprise Autonomy Suite,
includes DriveMod (autonomous vehicle system), Cyngn Insight
(customer-facing suite of AV fleet management, teleoperation, and
analytics tools), and Cyngn Evolve (internal toolkit that enables
Cyngn to leverage data from the field for artificial intelligence,
simulation, and modeling).
Where to find Cyngn:
- Website: cyngn.com
- Twitter: twitter.com/cyngn
- LinkedIn: https://www.linkedin.com/company/cyngn
- YouTube: https://www.youtube.com/@cyngnhq
Investor Contact:
Don Alvarez, CFO
investors@cyngn.com
Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com
Forward-looking Statements
This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act and other securities laws. Words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "estimates" and similar expressions or variations of such
words are intended to identify forward-looking statements.
Forward-looking statements are not historical facts, and are based
upon management's current expectations, beliefs and projections,
many of which, by their nature, are inherently uncertain. Such
expectations, beliefs and projections are expressed in good faith.
However, there can be no assurance that management's expectations,
beliefs and projections will be achieved, and actual results may
differ materially from what is expressed in or indicated by the
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
forward-looking statements, including the risk factors described
from time to time in the Company's reports to the Securities
Exchange Commission (SEC), including, without limitation the risk
factors discussed in the Company's annual report on Form 10-K filed
with the SEC on March 7, 2024.
Readers are cautioned that it is not possible to predict or
identify all the risks, uncertainties and other factors that may
affect future results. No forward-looking statement can be
guaranteed, and actual results may differ materially from those
projected. Cyngn undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise. References and links to websites have
been provided as a convenience, and the information contained on
such websites is not incorporated by reference into this press
release. Cyngn is not responsible for the contents of third-party
websites.
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SOURCE Cyngn