Gauzy Ltd. (Nasdaq: GAUZ), a global leader in light and vision
control technology, today announced that as a result of its
strategic partnership with Journeo plc (LSE: JNEO), a pioneering
technology group providing solutions to the transport community and
one of the largest integrators of Gauzy’s Smart-Vision® advanced
driver assistance system (ADAS), London’s fleet of 8,500 commercial
buses is on track to be equipped with Gauzy’s cutting-edge
Smart-Vision® system through retrofit and new vehicle
installations. Gauzy’s share of the ADAS market in the U.K. capital
reached an impressive approximately 30% in 2024, and this
technology is now operational on over 2,500 public buses throughout
the city. This growing partnership with Journeo will allow Gauzy to
penetrate other European countries in Norway, Iceland, Sweden and
Denmark where Journeo already operates, and benefit from Journeo’s
planned expansion in the region.
Gauzy and Journeo are united in their shared
missions to drastically improve road safety for drivers,
passengers, pedestrians and bicyclists in high-traffic cities
around the world. The companies have been collaborating since 2018,
leveraging each other’s scale and capabilities to help advance the
commercial adoption of game changing technology like the
Smart-Vision® ADAS in an effort to reduce on-road accidents and
fatalities.
Eyal Peso, CEO of Gauzy, stated: “Our strategic
partnership with Journeo has us on track to grow our already
commanding market share for ADAS in London by equipping its fleet
of public buses with our Smart-Vision® system, a truly monumental
accomplishment. As a result, London will become one of the safest
cities in the world for drivers, passengers, pedestrians and
bicyclists. Sophisticated ADAS like Smart-Vision® make roadways
safer for everyone, save lives, reduce costs and the risk of
on-road accidents, and we are dedicated to working together to make
this technology readily available in commercial vehicles
everywhere. We believe that with Journeo’s expertise in our system,
deep relationships with the transport community, and commitment to
innovation, we will continue expanding into new markets and
generate significant new revenue opportunities for our
business.”
Unlike traditional mirrors that are not capable
of detecting objects in a blind spot or reducing accident risks,
Gauzy’s Smart-Vision® system replaces mirrors altogether with a
network of integrated high-definition exterior cameras and interior
cab displays to provide drivers with expanded visibility of the
roadway and their surroundings. The system is designed to
automatically alert drivers to any actual or perceived risks and
take preventive measures to avoid collisions altogether. Moreover,
other benefits of the system include improved aerodynamics, lower
emissions, and a reduction in replacement costs.
Peso continued, “We feel there is no product
more impactful from a safety and cost benefit standpoint than
Smart-Vision® that when manufacturers and their drivers learn our
system, they become customers for life. They do not often go back
to traditional mirrors, which is why the global ADAS market is
projected to reach over $125 billion by 2029. This dynamic is
certainly beneficial for Gauzy and Journeo, and we are looking
forward to capitalizing on the growing trends in urban safety to
make Smart-Vision® a staple of public transportation.”
Journeo’s track record of delivering innovative
solutions for towns, cities, airports, and public transport
networks that improve efficiency, sustainability, and safety is
unparalleled and the catalyst for the company’s expansion. Serving
as one of the largest systems integrators, service providers and
trainers of Smart-Vision®, Journeo has a true competitive
advantage, enabling the company to broaden its market share by
offering the most sophisticated ADAS system on the market as it
expands its worldwide customer network.
Russ Singleton, CEO of Journeo, commented:
“Safety in public transportation is a continuous top priority for
the largest cities around the world, and this will always be the
case. Journeo and Gauzy are at the forefront of the movement to
make our roadways safer, and together, we have the resources needed
to ensure we stay ahead. We are committed to using our unmatched
scale, bandwidth and technology to expand the number of public
buses that are operating with the Smart-Vision® system to
significantly reduce potential hazards in high-traffic
environments.”
The Smart-Vision® system passes strict
homologations and certifications for safety. It was the first
to gain UTAC’s worldwide approval in 2017. It is United Nation (UN)
R46, UN R10, UN R118 and UN R151 homologated but also IATF and ISO
26262 certified. In the U.S., it can replace conventional mirrors,
as Federal Motor Carrier Safety Administration (FMCSA) granted its
exemption approval.
About GauzyGauzy Ltd. is a
fully-integrated light and vision control company, focused on the
research, development, manufacturing, and marketing of vision and
light control technologies that are developed to support safe,
sustainable, comfortable, and agile user experiences across various
industries. Headquartered in Tel Aviv, Israel, the company has
additional subsidiaries and entities based in Germany, France, the
United States, Canada, China, Singapore, and the United Arab
Emirates. Gauzy serves leading brands across aeronautics,
automotive, and architecture in over 30 countries through direct
fulfillment and a certified and trained distribution channel.
About JourneoJourneo plc is a
leading provider of Intelligent Transport Systems, offering
solutions for towns, cities, airports, and public transport
networks. The company collaborates with local authorities and
multinational transport operators to enhance system efficiency and
sustainability. Journeo comprises five operating units focusing on
fleet systems, passenger systems, rail applications, and services
in Denmark and Sweden. With significant investment in research and
development, Journeo provides scalable, IoT-integrated solutions
for modern public transport needs.
Forward-Looking StatementsThis
press release contains forward-looking statements. Forward-looking
statements contained in this press release include, but are not
limited to, statements regarding Gauzy’s strategic and business
plans, technology, relationships, objectives and expectations for
its business, growth, the impact of trends on and interest in its
business, intellectual property, products and its future results,
operations and financial performance and condition and may be
identified by the use of words such as “may,” “seek,” “will,”
“consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,”
“intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,”
“project,” “continue,” “potential,” “guidance,” “objective,”
“outlook,” “trends,” “future,” “could,” “would,” “should,”
“target,” “on track” or their negatives or variations, and similar
terminology and words of similar import, generally involve future
or forward-looking statements. All statements other than statements
of historical fact are forward-looking statements. Forward-looking
statements reflect Gauzy’s current views, plans, or expectations
with respect to future events and financial performance. They are
inherently subject to significant business, economic, competitive,
and other risks, uncertainties, and contingencies. Forward-looking
statements are based on Gauzy’s current expectations and are
subject to inherent uncertainties, risks and assumptions that are
difficult to predict including, without limitation, the following:
Gauzy invests significant effort and capital seeking validation of
its light and vision control products with OEMs and Tier 1
suppliers, mainly in the aeronautics and automobile markets, and
there can be no assurance that it will win production models, which
could adversely affect its future business, results of operations
and financial condition; failure to make competitive technological
advances will put Gauzy at a disadvantage and may lead to a
negative operational and financial outcome; Gauzy being an early
growth-stage company with a history of losses and its anticipation
that it expects to continue to incur significant losses for the
foreseeable future; its operating results and financial condition
have fluctuated in the past and may fluctuate in the future; it is
exposed to high repair and replacement costs; it may not be able to
accurately estimate the future supply and demand for its light and
vision control products, which could result in a variety of
inefficiencies in its business and hinder its ability to generate
revenue; if it fails to accurately predict its manufacturing
requirements, it could incur additional costs or experience delays;
the estimates and forecasts of market opportunity and market growth
it provides may prove to be inaccurate, and it cannot assure that
its business will grow at similar rates, or at all; it may be
unable to adequately control the capital expenditures and costs
associated with its business and operations; it may need to raise
additional capital before it can expect to become profitable from
sales of its light and vision control products, which such
additional capital may not be available on acceptable terms, or at
all, and failure to obtain this necessary capital when needed may
force it to delay, limit or terminate its product development
efforts or other operations; shortages in supply, price increases
or deviations in the quality of the raw materials used to
manufacture its products could adversely affect its sales and
operating results; its business, financial condition and results of
operations could be adversely affected by disruptions in the global
economy caused by the ongoing conflict between Russia and Ukraine;
it is subject to, and must remain in compliance with, numerous laws
and governmental regulations across various countries concerning
the manufacturing, use, distribution and sale of its light and
vision control products, and some of its customers also require
that it complies with other unique requirements relating to these
matters; if it is unable to obtain, maintain and protect effective
intellectual property rights for its products throughout the world,
it may not be able to compete effectively in the markets in which
it operates; the market price of its ordinary shares may be
volatile or may decline steeply or suddenly regardless of its
operating performance, and it may not be able to meet investor or
analyst expectations; its indebtedness could adversely affect its
ability to raise additional capital to fund operations, limit its
ability to react to changes in the economy or its industry and
prevent it from meeting its financial obligations; it has limited
operating experience as a publicly traded company in the United
States; conditions in Israel could materially and adversely affect
its business; and any other risks and uncertainties, including, but
not limited to, the risks and uncertainties in the Company’s
reports filed from time to time with the SEC, including, but not
limited to, the risks detailed in the Company’s prospectus
(Registration No. 333-278675), dated June 5, 2024 and filed with
the SEC. Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
The inclusion of forward-looking statements in this or any other
communication should not be considered as a representation by Gauzy
or any other person that current plans or expectations will be
achieved. Forward-looking statements speak only as of the date on
which they are made, and Gauzy undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future developments, or otherwise, except as
otherwise required by law.
IR and Media Contact Info
For Gauzy:Media – press@gauzy.comInvestors –
ir@gauzy.com
For Journeo:Media –
darren.maher@journeo.comInvestors – nick.lowe@journeo.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d860b7e9-7855-4acc-9f02-e7dd1050864a
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