MENLO PARK, Calif., January 04, 2023 — Cyngn Inc. (“Cyngn” or the “Company”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, today announced that it has signed a strategic customer agreement with Ouster, a leading provider of high-resolution digital lidar sensors (NYSE: OUST). The agreement will add Ouster’s new REV7 digital lidar sensors to Cyngn's DriveMod platform that delivers autonomous solutions for both existing and new material handling vehicles in 2023.
Ouster will showcase Cyngn’s DriveMod platform, outfit with a REV7 sensor, on a Columbia Stockchaser cargo vehicle in its booth #6541 at CES 2023 in the West Hall of the Las Vegas Convention Center from January 5-8, 2023.
Together, Ouster and Cyngn aim to provide autonomous solutions to address significant challenges common to many industrial organizations such as labor shortages, costly safety incidents, and increased consumer demand for e-commerce requiring more automation.
"Cyngn’s DriveMod was developed to support faster, more cost-effective deployments of industrial autonomy solutions, thereby solving major scalability and adoption issues faced by companies interested in reaping the benefits of greater levels of automation," said Cyngn CEO, Lior Tal. "DriveMod simplifies what can otherwise be a complex installation process, and requires high-performing sensor technology such as Ouster lidar sensors, which maximizes the vehicle’s self-driving capabilities."
DriveMod is an all-in-one autonomy integration package that enables the conversion of standard industrial vehicles into fully autonomous ones by utilizing advanced lidar sensors, hardware components, and AI software. DriveMod can be installed into new vehicles off the assembly line or retrofitted into existing vehicles.
"Cyngn’s platform is streamlining the adoption of autonomous technology for industrial fleets by making it simpler to add autonomy, powered by Ouster digital lidar, to existing and new material handling vehicles," said Nate Dickerman, Ouster’s President of Field Operations. "We’re excited to support them as they increase the number of autonomous solutions across the supply chain, and thrilled that Cyngn will have their DriveMod system on display at CES in the Ouster booth."
About Ouster
Ouster (NYSE: OUST) is building a safer and more sustainable future through its high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure, and robotics industries. Ouster’s sensors offer an excellent combination of price and performance with the flexibility to span hundreds of use cases and enable revolutionary autonomy across industries. With a global team and high-volume manufacturing, Ouster supports approximately 700 customers in over 50 countries. Ouster is headquartered in San Francisco, CA, with offices in the Americas, Europe, Asia-Pacific, and the Middle East. For more information, visit www.ouster.com, or connect with Ouster on Twitter or LinkedIn.