Fabrinet Will Help Quanergy Scale to Meet Growing Demand
SUNNYVALE, Calif. – September 13, 2022 – Quanergy Systems, Inc., (NYSE:QNGY) a leading provider of LiDAR sensors and smart 3D solutions, announced today that the company will partner with Fabrinet, a leading provider of advanced precision optical and electronic manufacturing services for the production of Quanergy’s LiDAR sensors.
Fabrinet is a trusted partner of the world’s most demanding original equipment manufacturers (OEMs). Their proven track record of customer service, flexibility and skill in managing complex operations aligns with Quanergy’s commitment to maintaining high quality and industry standards in manufacturing. With Fabrinet, Quanergy will be able to expand its global manufacturing and scale as demand increases, to deliver greater efficiency for customers.
Quanergy’s customers can be confident that their sensors are high-quality and built by a trusted, seasoned manufacturer with extensive, relevant certifications, including ISO9001, IATF16949 and ISO14001.
Kevin Amiri, Quanergy’s Senior Vice President of Operations, said: “LiDAR is revolutionizing how many businesses operate across the IoT and automotive industry. Fabrinet’s global supply chain expertise, in-house failure analysis and reliability testing, and direct fulfillment result in the efficiency, dependability, timeliness and cost-effectiveness that Quanergy’s customers need.”
For more information, visit www.quanergy.com.
About Quanergy Systems, Inc.
Quanergy’s (NYSE: QNGY) 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 nearly 400 customers across the globe. For more information, please visit us at www.quanergy.com.
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,” “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, are forward-looking statements, including statements regarding Fabrinet’s manufacture of our LiDAR sensors and our ability to expand global manufacturing and scale as demand increases. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside Quanergy’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; 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 and challenges across the global supply chain; consumer demand for our 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 carry forwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks; and other risks and uncertainties indicated in Quanergy’s filings with the U.S. Securities and Exchange Commission. In addition, forward-looking statements reflect Quanergy’s expectations, plans or forecasts of future events and views only as of the date of this press release. Quanergy anticipates that subsequent events and developments will cause its assessments to change. However, while Quanergy may elect to update these forward-looking statements at some point in the future, Quanergy specifically disclaims any obligation to do so, except as required by law.
Shannon Van Every