Ouster Introduces Sustainability Program to Drive Increased Safety, Efficiency and Equity Across its Industries, Business Operations, and Communities
02 March 2022 - 12:45AM
Business Wire
Establishes ESG Advisory Committee to guide the
Company’s sustainable business practices
Ouster, Inc. (NYSE: OUST) (“Ouster” or “the Company”), a leading
provider of high-resolution digital lidar sensors for the
automotive, industrial, smart infrastructure, and robotics
industries, today formalized its commitment to building a safer and
more sustainable future with the introduction of an integrated and
ambitious Sustainability Program.
Ouster’s Sustainability Program is predicated on the founding
principle of its business: to innovate and deliver technologies
that lead to safer vehicles, transportation networks, workplaces,
and infrastructure for more sustainable communities. The Company
intends to execute on its long-term strategic priorities alongside
its Sustainability Program to have a positive impact on its
communities and the planet.
Ouster established an internal Environmental, Social, and
Governance (ESG) Advisory Committee to continue building out,
improving, tracking, and reporting on its Sustainability Program
across three core pillars: (i) Environmental and Operational
Excellence, (ii) Human Capital and Corporate Citizenship, and (iii)
Product Impact. Ouster aims to align its best practices and future
reporting to the shared blueprint outlined within the United
Nations' Sustainable Development Goals.
“Ouster is poised to have a large-scale impact on society
through the multitude of applications and industries we serve with
digital lidar, from safer roads and vehicles to a more sustainable
supply chain,” said Ouster CEO Angus Pacala. “We believe we can
accelerate value creation by answering society’s increasing demand
for safer and more sustainable solutions. This effort is expected
to make us a stronger partner for customers, a preferred place for
our employees to work, and a more attractive investment.
Ultimately, this initiative will benefit our company, our
stakeholders, and communities around the world.”
To learn more about Ouster’s Sustainability Program, visit:
https://investors.ouster.com/sustainability.
About Ouster
Ouster (NYSE: OUST) is building a safer and more sustainable
future through its high-resolution digital lidar sensors for the
automotive, industrial, smart infrastructure, and robotics
industries. Ouster’s sensors offer an excellent combination of
price and performance with the flexibility to span hundreds of
use-cases and enable revolutionary autonomy across industries. With
a global team and high-volume manufacturing, Ouster supports
approximately 600 customers in over 50 countries. Ouster is
headquartered in San Francisco, CA with offices in the Americas,
Europe, Asia-Pacific, and the Middle East. For more information,
visit www.ouster.com, or connect with us on Twitter or
LinkedIn.
Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding Ouster’s financial outlook, market
positioning, and anticipated results from its ESG efforts.
Forward-looking statements give Ouster’s current expectations and
projections relating to its financial condition, competitive
position, results of operations, plans, objectives, future
performance and growth, potential revenue opportunity from
Strategic Customer Agreements, including the potential for doubling
performance and revenue in 2022, future orders, total addressable
market, and business. Any statements regarding the doubling of the
Company’s contracted revenue opportunity do not speak to
expectations for any periods beyond 2022. You can identify
forward-looking statements by the fact that they do not relate
strictly to historical or current facts. These statements may
include words such as “anticipate”, “estimate”, “expect”,
“project”, “plan”, “intend”, “believe”, “may”, “will”, “should”,
“can have”, “likely” and other words and terms of similar meaning
in connection with any discussion of the timing or nature of future
operating or financial performance or other events. All
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those that
we expected, including: Ouster’s limited operating history and
history of losses; the negotiating power and product standards of
its customers; fluctuations in its operating results; cancellation
or postponement of contracts or unsuccessful implementations; the
adoption of its products and the growth of the lidar market
generally; its ability to grow its sales and marketing
organization; substantial research and development costs needed to
develop and commercialize new products; the competitive environment
in which it operates; selection of our products for inclusion in
target markets; its future capital needs; its ability to use tax
attributes; its dependence on key third party suppliers, in
particular Benchmark Electronics, Inc., and manufacturers; ability
to maintain inventory and the risk of inventory write-downs;
inaccurate forecasts of market growth; its ability to manage
growth; the creditworthiness of our customers; risks related to
acquisitions; risks related to international operations; risks of
product delivery problems or defects; costs associated with product
warranties; its ability to keep its competitive edge and maintain
competitive average selling prices or high sales volumes or reduce
product costs; conditions in its customers industries; its ability
to recruit and retain key personnel; its use of professional
employer organizations; its ability to timely and adequately
protect and enforce its intellectual property rights; its ability
to effectively respond to evolving regulations and standards; risks
related to operating as a public company; risks related to the
COVID-19 pandemic; and other important factors discussed in the
Company’s final prospectus and definitive proxy statement, dated
February 12, 2021, filed with the Securities and Exchange
Commission (the “SEC”), as updated by the factors disclosed in the
section titled “Risk Factors” in its final prospectus filed with
the SEC and dated August 19, 2021 and in Form 10-K filed with the
SEC on February 28, 2022. Any such forward-looking statements
represent management’s estimates and beliefs as of the date of this
press release. While Ouster may elect to update such
forward-looking statements at some point in the future, other than
as required by law, it disclaims any obligation to do so, even if
subsequent events cause its views to change.
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version on businesswire.com: https://www.businesswire.com/news/home/20220301005546/en/
Ouster:
For Investors Sarah Ewing investors@ouster.io
For Media Heather Shapiro press@ouster.io
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