Quanergy Demonstrates the Industry First OPA-based Solid State LiDAR with 100 Meter Range
Quanergy Systems, Inc., a leading provider of OPA-based solid state LiDAR sensors and smart 3D solutions for automotive and IoT, today announced the successful driving demonstration of its S3 Series LiDAR, a true solid state LiDAR sensor using an industry-first Optical Phased Array (OPA) technology and a scalable CMOS silicon manufacturing process for cost-effective, mass-market production.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210803005475/en/
Quanergy Demonstrates the Industry First OPA-based Solid State LiDAR with 100 Meter Range (Photo: Business Wire)
The demonstration was conducted in partnership with Zero Electric Vehicle Inc. (ZEV), an innovative sustainable energy company that provides fleet electrification and EV platforms for companies looking to maximize their existing assets while transitioning to electric transportation.
For this test, a solid-state LiDAR test platform with single scanning beam was mounted on a vehicle, along with additional cameras to facilitate visual viewing. The test vehicle followed a target vehicle driving in bright sunlight at a variety of ranges--from a close proximity to a distance of 100 meters--while maintaining safety at all times. A target with 10% reflectivity was chosen to simulate very difficult-to-detect objects.
“Quanergy’s CMOS-based OPA technology has demonstrated significant improvement towards its adoption in long range automotive applications,” said Jim Maury, President at ZEV. “We believe Quanergy’s OPA technology provides a highly reliable and cost-effective 3D LiDAR solution that is critically important for the automotive industry.”
Quanergy’s S3 Series LiDAR sensor is designed to meet the most stringent automotive requirements for object detection and collision avoidance. The sensor’s unique electronic beam steering without any moving parts offers immunity to shock and vibration. The S3 Series provides over 100,000 hours MTBF (mean time between failures), and it is targeting a price of $500 for mass-market production.
“We are very excited about this industry-first demonstration of 100-meter range achieved in full daylight with Quanergy’s OPA-based solid-state technology,” said Dr. Tianyue Yu, Quanergy Co-founder and Chief Development Officer. “Our team is now working towards even more aggressive performance targets, including longer range, increased vertical field of view and data rate. Stay tuned for more news!”
In addition to advancing the OPA technology for automotive applications, Quanergy is quickly expanding its reach and bringing Smart LiDAR solutions to many IoT applications. In addition to the strategic partnership with Sensata, Quanergy’s recent commercial IoT deployments include the:
- Selection by PARIFEX as exclusive supplier of long-range 3D LiDAR for highway speed detection and enforcement in France
- First V2X (vehicle to everything) Smart City deployment in Korea
- Adoption by Puxiang BioEnergy to optimize recycling processes and reduce environmental impact in China
For more information, visit www.quanergy.com
In June, Quanergy entered into a definitive merger agreement with CITIC Capital Acquisition Corp. (NYSE: CCAC) (“CCAC”). Upon closing of the transaction, the combined company will be named Quanergy Systems, Inc. and is expected to be listed on the New York Stock Exchange (NYSE) under the ticker symbol “QNGY.” The transaction is expected to close in the fourth quarter of 2021, subject to satisfaction of customary closing conditions.
About Quanergy Systems, Inc.
Quanergy Systems’ mission is to create powerful, affordable smart LiDAR solutions for automotive and IoT applications to enhance people’s experiences and safety. Quanergy has developed the only true 100% solid state CMOS LiDAR sensor built on optical phased array (OPA) technology to enable the mass production of low-cost, highly reliable 3D LiDAR solutions. Through Quanergy’s smart LiDAR solutions, businesses can now leverage real-time, advanced 3D insights to transform their operations in a variety of industries including industrial automation, physical security, smart cities, smart spaces, and much more. Quanergy solutions are deployed by over 350 customers across the globe. For more information, please visit us at www.quanergy.com.
Zero Electric Vehicles INC. (“ZEV”) is an Arizona based Software-Defined Electric Vehicle manufacturer. ZEV’s proprietary manufacturing process enables rapid development and training of EV system models to meet the demands of new EV customers. ZEV’s extensive technology portfolio in applied power management intelligence and BEV thermal control delivers a highly scalable and configurable EV for commercial and consumer customers.
ZEV aspires to the highest standards for ‘next gen’ EVs by delivering high-value trust worthy products to global customers. ZEV – EV For All. http://www.zeroevcorp.com/
Important Information about the Business Combination and Where to Find It
CCAC has filed a registration statement on Form S-4, which contains a proxy statement/prospectus and other relevant materials, and plans to file with the SEC an amendment to the registration statement as well as other documents regarding the proposed transaction with Quanergy. CCAC urges its investors, shareholdersand other interested persons to read, when available, the proxy statement/prospectus filed with the SEC and documents incorporated by reference therein because these documents will contain important information about CCAC, Quanergy and the proposed business combination. After the registration statement is declared effective by the SEC, the definitive proxy statement/prospectus and other relevant documents will be mailed to the shareholders of CCAC as of the record date established for voting on the proposed business combination and will contain important information about the proposed business combination and related matters. Shareholders of CCAC and other interested persons are advised to read, when available, these materials (including any amendments or supplements thereto) and any other relevant documents in connection with CCAC’s solicitation of proxies for the meeting of shareholders to be held to approve, among other things, the proposed business combination because they will contain important information about CCAC, Quanergy and the proposed business combination. Shareholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other relevant materials in connection with the transaction without charge, once available, at the SEC’s website at www.sec.gov or by directing a request to: CITIC Capital Acquisition Corp., 28/F CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong, Attention: Fanglu Wang, telephone: +852 3710 6888. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
CCAC, Quanergy and their respective directors and executive officers may be deemed participants in the solicitation of proxies from CCAC’s shareholders in connection with the proposed business combination. CCAC’s shareholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of CCAC in CCAC’s final prospectus filed with the SEC on February 12, 2020 in connection with CCAC’s initial public offering. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to CCAC’s shareholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed business combination will be included in the proxy statement/prospectus that CCAC intends to file with the SEC. You may obtain free copies of these documents as described in the preceding paragraph.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of CCAC or Quanergy, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project,” “anticipate,” “will likely result” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, including those regarding the anticipated future adoption of our OPA-based solid-state technology in long range automotive applications, our expectations regarding advancements in long range automotive applications, increased vertical field of view and data rates, CCAC’s ability to consummate the proposed business combination, anticipated timing of the proposed business combination, and the combined company’s future products are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of CCAC and Quanergy and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CCAC or Quanergy. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the shareholders of CCAC or Quanergy is not obtained; the inability to complete the PIPE offering in connection with the business combination; failure to realize the anticipated benefits of the proposed business combination; risk relating to the uncertainty of the projected financial information with respect to Quanergy; the amount of redemption requests made by CCAC’s shareholders; the overall level of consumer demand for Quanergy’s products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the ability to maintain the listing of Quanergy’s securities on the New York Stock Exchange; the financial strength of Quanergy’s customers; Quanergy’s ability to implement its business strategy; changes in governmental regulation, Quanergy’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to Quanergy’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of Quanergy’s suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on Quanergy and its suppliers and customers; Quanergy’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, Quanergy’s information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations; Quanergy’s ability to utilize potential net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. The foregoing list of potential risks and uncertainties is not exhaustive. More information on potential factors that could affect CCAC’s or Quanergy’s financial results is included from time to time in CCAC’s public reports filed with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K as well as the other documents CCAC has filed, or will file, with the SEC, including the final amended registration statement on Form S-4 that will include proxy statements/prospectus that CCAC will file with the SEC in connection with CCAC’s solicitation of proxies for the meeting of shareholders to be held to approve, among other things, the proposed business combination. If any of these risks materialize or CCAC’s or Quanergy’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither CCAC nor Quanergy presently know, or that CCAC and Quanergy currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect CCAC’s and Quanergy’s expectations, plans or forecasts of future events and views as of the date of this press release. Neither CCAC nor Quanergy gives assurance that either CCAC or Quanergy, or the combined company, will achieve its expectations. CCAC and Quanergy anticipate that subsequent events and developments will cause their assessments to change. However, while CCAC and Quanergy may elect to update these forward-looking statements at some point in the future, CCAC and Quanergy specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing CCAC’s or Quanergy’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Galderma to Unveil Ground-breaking Data From Across Its Leading Dermatology Portfolio and Showcase Major Update for Sensitive Skincare Brand CETAPHIL ® at the 2021 EADV Congress28.9.2021 08:30:00 CEST | Press release
Galderma’s presence at the 2021 European Academy of Dermatology and Venereology (EADV) virtual congress on September 29 – October 2 will reveal new data and showcase the company’s sophisticated portfolio and services across the spectrum of dermatology. The company’s redesigned virtual booth will have dedicated areas presenting Galderma’s innovations in Consumer Care and Prescription Medicine. Unveiling new data in Prescription Medicine The congress will see the unveiling of exciting new data from Galderma relating to rosacea, acne, actinic keratosis, atopic dermatitis and prurigo nodularis. Attendees will have the opportunity to ask questions to the faculties during live Q&A sessions. On Thursday, September 30, Professor Alison Layton^ will chair the symposium Personalizing Acne: Consensus of Experts to Optimize Acne Management. Together with her co-speakers, Professor Layton will provide practical solutions for longitudinal management of acne. On the same day, Professor Gil Yosipovitc
ThreatConnect Expands Into South Africa, Partnering With Leading MSSP28.9.2021 07:00:00 CEST | Press release
ThreatConnect, Inc.®, the leader in reducing complexity and enabling better decision-making in cybersecurity, announced that it has entered a strategic partnership with BUI, Microsoft’s largest Security and Consulting Partner in South Africa. BUI is an award-winning Microsoft Azure Expert MSP, a member of the Microsoft Intelligent Security Association, and a Gold Microsoft Partner delivering cloud and security solutions, as well as professional services, in SA and across the world. With Cyber Risk Quantification (CRQ), Threat Intelligence Platform (TIP) and Security Orchestration, Automation, and Response (SOAR) capabilities combined, ThreatConnect unifies the actions of the security team around the most critical tasks, supports their response with streamlined and automated workflows, and strengthens the entire security ecosystem through powerful technology integrations. With ThreatConnect’s comprehensive intelligence-driven SOAR, BUI (among other MSSPs) sees a plethora of immediate be
GlobalLogic Launches Collaborative Hub Based in Lumada Innovation Hub Tokyo28.9.2021 02:00:00 CEST | Press release
Hitachi, Ltd. (TSE: 6501, “Hitachi”) and GlobalLogic*1, a Hitachi Group Company, today announced the launch of a collaborative hub to promote digital transformation (DX) services in the Japanese market. Based in the Lumada Innovation Hub Tokyo*2, a co-creation base for Hitachi, this collaboration hub combines capabilities of GlobalLogic and Lumada. Delivering on the joint integration strategy, this partnership aims to jump-start GlobalLogic’s entry into Japan, and will accelerate business development for design-led Digital Engineering services of GlobalLogic, establishing a system to support customers in Japan starting from fiscal 2022. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210927005848/en/ A workshop connecting “Lumada Innovation Hub Tokyo” and GlobalLogic's Design and Engineering Centers. (Photo: Business Wire) "The market demand for DX continues to grow at a fast pace, as global brands increasingly leverage digit
SpeeDx and SynGenis Partner for Custom Oligonucleotide Synthesis28.9.2021 00:00:00 CEST | Press release
SpeeDx Pty, Ltd. a developer of innovative molecular diagnostic solutions announced investment in SynGenis Pty Ltd., an experienced oligonucleotide manufacturer based in Western Australia. The partnership will bolster internal capacity of SpeeDx to support large-scale increases in manufacturing while developing and expanding sovereign capacity of important raw materials used in molecular diagnostics. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210927005329/en/ In addition to securing local supply chain to strengthen sovereign capacity for critical diagnostics and a more robust national health infrastructure, SpeeDx investment in local industry serves to fast track the growth and reach of SynGenis in the global diagnostics market. (Graphic: Business Wire) “We have invested considerable resources into our production scale-up processes to support the increase in testing seen as a result of the global pandemic,” said Tom Lin,
Medidata Veterans Rama Kondru and Sastry Chilukuri Named co-CEOs27.9.2021 23:00:00 CEST | Press release
Medidata, a Dassault Systèmes company, recently named Rama Kondru and Sastry Chilukuri co-CEOs. Both are Medidata veterans, with Chilukuri as the founding president of Medidata Acorn AI and Kondru as executive vice president and chief technology officer. Collaborating as CEOs will be nothing new for these industry leaders, having also partnered in roles prior to joining Medidata. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210927005812/en/ Medidata co-CEOs Sastry Chilukuri and Rama Kondru (l, r) (Photo: Business Wire) Chilukuri commented: “The life sciences industry is undergoing a sea change spurred by biological and technological innovation. We at Medidata are committed to being a trusted partner who helps customers deploy cutting-edge technology, data and AI to solve the impossible for patients.” Kondru commented: "We are excited to build the next chapter of Medidata around three critical pillars: a unified platform co
Next-Generation Arize Element® L1000 Enables Efficient Growth at an Industrial Scale27.9.2021 20:06:00 CEST | Press release
GE Current, a Daintree company, today introduced the next generation of the Arize Element L1000, a top light for commercial greenhouses and indoor farms. The next generation features three models with expanded spectral options, a high photon flux of up to 2,350 μmol/s, high efficacy levels of up to 3.6 µmol/J and is proudly assembled in the heart of Appalachia. “We set out to engineer the world’s most rugged and durable light fixture for commercial agriculture, thanks to our 20-plus years of LED fixture design experience combined with over 65 years of manufacturing excellence and scale in Hendersonville, North Carolina,” said Mike Doss, Current’s VP of Specialty. “We’ve improved the Element in every possible way, from light intensity to efficacy, and now it is proudly assembled in the Appalachians.” The Element family now features eight spectral options in three all-new models: L1000: The L1000 is a flexible, all-purpose fixture, with a PPF of up to 1900 µmol/s at 3.3 µmol/J. L1000 HE:
Creative Artists Agency to Acquire ICM Partners27.9.2021 19:00:00 CEST | Press release
Leading entertainment and sports agency Creative Artists Agency (CAA) announced today the execution of a definitive agreement to acquire ICM Partners (ICM), one of the world’s premier entertainment and sports agencies, to drive broader and more inclusive representation as their clients, their work, and their brands shape culture. “Today’s storytellers, athletes, thought-leaders, and trend-setters who can move, inspire, and attract large, global audiences have unprecedented opportunity and ability to achieve their goals and aspirations,” said CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett. “The strategic combination of CAA and ICM bolsters our collective resources, expertise, and relationships to deliver even more opportunities for our world-class clients to build their careers and their brands across multiple disciplines and platforms in an evolving marketplace. Our strong financial position enables us to continue to expand and diversify our businesses, with service and representa