Integrated Solution helps Reduce False Alarms and Operating Costs for Security, Manufacturing and Transportation Industry Customers
SAN JOSE, Calif. – Sept. 7, 2022 – Quanergy Solutions, Inc., (NYSE:QNGY) a leading provider of LiDAR sensors and smart 3D solutions, today announced that the company is integrating with QORTEX DTC™ platform with Hanwha’s Techwin’s video management software, Wisenet WAVE VMS. This will enable Hanwha customers to optimize and automate security business operations with real-time 3D data including location, direction, speed and type of objects.
With Quanergy solutions integrated into Wisenet WAVE VMS, Hanwha customers will have access to advanced sensing capabilities to extend the coverage, dramatically reduce false alarms rates and reduce the operational cost of physical security deployments. The 3D volumetric sensing provided by Quanergy’s M series sensors will enable Hanwha customers to visualize spaces with depth perception and provide extremely accurate object tracking of alarm events. This means countless event-to-action outcomes can be configured and visualized for automation, security or business intelligence.
Gerald Becker, vice president, market development and alliances, Quanergy, said: “LiDAR-based security solutions provide incredibly rich and detailed data, enabling advanced object detection and deeper insights with more accuracy than ever before. The integration with Hanwha Techwin’s WAVE VMS will bring the value of 3D LiDAR sensing to an even wider audience.”
Through this seamless integration with Wisenet VMS, Hanwha end-users will now have access to the QORTEX DTC™ platform, which enables the classification of vehicles and people, ensuring high accuracy and efficiency when integrated with Wave. In addition, the LiDAR sensors are accurate and reliable in all weather and lighting conditions, including very bright and very low light, making them ideal for both indoor and outdoor security applications. When coupled with Hanwha Techwin’s PTZ cameras, surveillance operators enjoy advanced “slew to cue” functionality with centimeter accuracy.
Mark Heinztman, national BDM for technical partnerships, Hanwha Techwin America, said: “Working with Quanergy has been a great experience and allowed us to provide our customers with 3D technology to solve a number of different challenges. Combining the accuracy of Quanergy’s LIDAR based products with our camera line and Wisenet WAVE VMS has proven to be a very powerful solution for our end users.”
For more information, visit www.quanergy.com.
About Quanergy Solutions, 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 the use of our MQ8 products and Qortex DTC platform in security, manufacturing and transportation industries, and the ability of our sensors to reduce false alarms and operating costs. 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, 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; 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.