NEXTMap® elevation data and analytics will
drive efficiency and save costs for an industry leader
in solar energy site planning
Developing scalable, custom analytics to meet
the growing demand for solar energy around the world
DENVER, Sept. 8,
2022 /PRNewswire/ - Intermap Technologies (TSX: IMP)
(OTCQX: ITMSF) ("Intermap" or the "Company"), a global leader in 3D
geospatial data and intelligence solutions, today announced a new
contract with a major solar energy company to provide NEXTMap®
elevation data as a service and analytics to support solar farm
planning and site assessment. Intermap's solution saves renewable
energy companies significant time and resources.
Intermap's elevation data as a service business model is
scalable to meet the specific needs of customers. The Company
developed custom slope analytics to the solar energy company's
specific requirements. It rapidly provides detailed information
about the steepness of the terrain for site assessments,
visualization and planning. This type of analysis typically happens
in the preliminary stages of planning so organizations can focus on
the most promising sites. Once solar sites are prioritized, survey
teams deploy drones and other equipment to evaluate and model the
locations further. A major benefit is the reduction of these more
costly and time-consuming surveys. Clients can access the elevation
data and analytics they need without purchasing the elevation
models, resulting in a cost-effective solution that can be used by
non-geospatial experts.
"We are excited to provide solar energy companies with
cutting-edge elevation data and analytics to support solar projects
around the world," said Patrick A.
Blott, Intermap's Chairman and CEO. "Intermap's easily
accessible geospatial data and analytics make it simple for solar
energy companies to manage multiple projects and save time and
money associated with sending ground crews in the early stages of
planning."
Today's newest subscription reflects Intermap's continued
expansion into the renewable energy market where its NEXTMap
elevation data and analytics meet the growing demand for solar
energy. The global solar power market is expected to grow from
$184.03 billion in 2021 to
$293.18 billion in 2028 at a CAGR of
6.9% (Source). The growth in demand for solar energy is driven by
environmental urgency and incentives set forth by governments to
help reduce carbon emissions. Intermap's global data coverage
enables energy companies to expand operations to meet the growing
renewable energy demand while maintaining confidence that the data
will provide accurate and consistent results anywhere in the
world.
Recent wins with other major renewable energy companies show the
growing demand for Intermap's unique capabilities in providing the
necessary tools for renewable energy planning and climate
resilience projects. The Company is building recurring revenue at a
high margin with a focus on elevation data as a service and
analytics to meet the global demand for clean energy.
This new contract includes access to Intermap's NEXTMap
elevation data and custom slope analytics, enabling the client to
assess viability, evaluate canopy heights and perform cut-fill
analysis in the preliminary planning stages of proposed solar
projects.
To learn more about Intermap's elevation data and analytics for
renewable energy, visit www.intermap.com/renewable-energy.
Intermap Reader Advisory
Certain information provided in this news release constitutes
forward-looking statements. The words "anticipate", "expect",
"project", "estimate", "forecast", "will be", "will consider",
"intends" and similar expressions are intended to identify such
forward-looking statements. Although Intermap believes that these
statements are based on information and assumptions which are
current, reasonable and complete, these statements are necessarily
subject to a variety of known and unknown risks and uncertainties.
Intermap's forward-looking statements are subject to risks and
uncertainties pertaining to, among other things, cash available to
fund operations, availability of capital, revenue fluctuations,
nature of government contracts, economic conditions, loss of key
customers, retention and availability of executive talent,
competing technologies, common share price volatility, loss of
proprietary information, software functionality, internet and
system infrastructure functionality, information technology
security, breakdown of strategic alliances, and international and
political considerations, as well as those risks and uncertainties
discussed Intermap's Annual Information Form and other securities
filings. While the Company makes these forward-looking statements
in good faith, should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary significantly from those expected.
Accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits that the Company will
derive therefrom. All subsequent forward-looking statements,
whether written or oral, attributable to Intermap or persons acting
on its behalf are expressly qualified in their entirety by these
cautionary statements. The forward-looking statements contained in
this news release are made as at the date of this news release and
the Company does not undertake any obligation to update publicly or
to revise any of the forward-looking statements made herein,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities law.
About Intermap
Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP) (OTCQX:
ITMSF) is a global leader in geospatial intelligence solutions,
focusing on the creation and analysis of 3D terrain data to produce
high-resolution thematic models. Through scientific analysis of
geospatial information and patented sensors and processing
technology, the Company provisions diverse, complementary,
multi-source datasets to enable customers to seamlessly integrate
geospatial intelligence into their workflows. Intermap's 3D
elevation data and software analytic capabilities enable global
geospatial analysis through artificial intelligence and machine
learning, providing customers with critical information to
understand their terrain environment. By leveraging its proprietary
archive of the world's largest collection of multi-sensor global
elevation data, the Company's collection and processing
capabilities provide multi-source 3D datasets and analytics at
mission speed, enabling governments and companies to build and
integrate geospatial foundation data with actionable insights.
Applications for Intermap's products and solutions include defense,
aviation and UAV flight planning, flood and wildfire insurance,
disaster mitigation, base mapping, environmental and renewable
energy planning, telecommunications, engineering, critical
infrastructure monitoring, hydrology, land management, oil and gas
and transportation.
View original
content:https://www.prnewswire.com/news-releases/intermap-announces-new-subscription-for-solar-projects-301620708.html
SOURCE Intermap Technologies Corporation
