By Robb M. Stewart

Intermap Technologies Corp.'s shares jumped Wednesday after the 3D geospatial products company was selected by the U.S. Department of Defense for the next stage of a competitive process to demonstrate advanced technology for geospatial temporal incident data.

In morning trading, the shares were 13% higher at C$0.90, extending the rally so far this year to just over 60%.

The Canadian company said that after its earlier proposal was vetted and evaluated, it was invited to present its newest artificial intelligence processing technology and demonstrate how it can support the U.S. government with geo-precise data for situational awareness and planning processes.

Geospatial temporal incident data includes events such as crime, population disturbances, riots and protests, and cybersecurity developments, as well as natural hazards. Intermap said it will present its capabilities and provide a demonstration of its technology for the Department of Defense at an event in April.

In late January, Intermap said it received its first task orders from the Department of Defense under its Janus contract, a department vehicle to fund the creation and integration of geospatial intelligence..

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

February 08, 2023 10:54 ET (15:54 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Intermap Technologies (TSX:IMP)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Intermap Technologies Charts.
Intermap Technologies (TSX:IMP)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Intermap Technologies Charts.