Press Releases
Cyngn Reports First Quarter 2022 Results
Cyngn announces its financial results for the first quarter ended March 31, 2022.
Cyngn Collaborates with Qualcomm to Exhibit Industrial Autonomous Mobile Robot Technology Powered by Qualcomm Robotics RB5 Platform at Hannover Messe Expo
Cyngn announces a collaboration with Qualcomm Technologies, Inc. to demonstrate AMRs powered by the Qualcomm Robotics RB5 Platform at Hannover Messe Expo.
MENLO PARK, Calif. Cyngn (or the “Company”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, today announced its collaboration with Qualcomm Technologies, Inc. to demonstrate autonomous mobile robots (AMRs) powered by the Qualcomm Robotics RB5 Platform at the Hannover Messe Expo.
Cyngn is collaborating with Qualcomm Technologies, Inc. on an exhibit of industrial AMR technology powered by Qualcomm Robotics RB5 Platform at the Hannover Messe Expo in Germany May 30th to June 2nd. Source: Cyngn
Cyngn and Qualcomm Technologies will be showcasing Cyngn’s DriveMod-powered Columbia Stockchaser, an industrial AMR powered by the Qualcomm Robotics RB5 Platform. The solution is an advanced computing platform which offers the high-capacity processing required for the next generation of AI, machine learning, and intelligent sensing industrial robots with reduced power consumption.
“The industrial AMRs that our technology powers today process data and make decisions from a multitude of sensors in real-time, and Qualcomm Technologies’ leading robotics solutions including the Qualcomm Robotics RB5 Platform and the Qualcomm Robotics RB6 platform are driving Cyngn’s advanced robotics with an excellent AI processing-to-power ratio. As a leader in 5G, Qualcomm Technologies will help support the improvement of teleoperation, accelerated data transfer rates, and even opens novel high-accuracy localization solutions,” said Lior Tal, Cyngn’s CEO. “We are proud to be exhibiting together with Qualcomm Technologies at the largest industrial technology conference in the world – Hannover Messe.”
The Hannover Messe is one of the world’s largest trade expositions, and is focused solely on industry development. On average, the Hannover Messe features approximately 6,500 exhibitors, with an average of 250,000 visitors. This year’s event will be held on May 30 - June 2, 2022, at the Hanover Fairgrounds in Hanover, Germany.
Advanced processing and network speeds facilitate the development of progressively smarter robots that are able to swiftly negotiate critical decisions. The safety factor is paramount for industries such as manufacturing, logistics, mining, and construction who rely on AMRs for both operational efficiency and improved safety. The increased data processing and network speed/availability also contribute significantly to the capabilities of the Cyngn Insight analytics platform, which gathers vehicle data to provide customers with real-time, actionable data.
"We are pleased to work with Cyngn to support the proliferation of 5G AMRs that will drive operational efficiencies and support business resiliency in an increasingly digital economy. Our leading robotics solutions – the Qualcomm Robotics RB6 platform and the Qualcomm Robotics RB5 platform – deliver premium capabilities with high-capacity, low power, and cutting-edge 5G and AI capabilities to fuel the development of smarter and safer commercial AMRs," said Dev Singh, senior director, business development, and head of autonomous robotics, drones and intelligent machines at Qualcomm Technologies, Inc.
About Cyngn
Cyngn is an autonomous vehicle technology company that is focused on addressing industrial uses for autonomous vehicles. Cyngn believes that technological innovation is needed to enable adoption of autonomous industrial vehicles that will address the substantial industry challenges that exist today. These challenges include labor shortages, lagging technological advancements from incumbents, and high upfront investment requirements. Cyngn addresses these challenges with its Enterprise Autonomy Suite, which includes DriveMod (modular industrial vehicle autonomous driving software), Cyngn Insight (customer-facing software suite for monitoring/managing AV fleets and aggregating/analyzing data), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).
To learn more, please visit https://cyngn.com/.
Find Cyngn on:
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the SEC. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results.
Carolyne Sohn
Vice President, The Equity Group
csohn@equityny.com
(415) 568-2255