TEL
AVIV, Israel, Nov. 16,
2023 /PRNewswire/ -- Innoviz Technologies Ltd.
(Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1
supplier of high-performance, automotive grade LiDAR sensors and
perception software, today announced that it has been named a CES®
2024 Innovation Awards Honoree for the all-new InnovizCore,
and is competing for the "Best of Innovation" distinction to be
announced ahead of the Consumer Electronics Show happening
January 9-12 in Las Vegas, NV.
The CES Innovation Awards program is an annual competition
honoring outstanding design and engineering in 29 consumer
technology product categories. An elite panel of industry expert
judges, including members of the media, designers, engineers, and
more reviewed over 3,000 submissions based on innovation,
engineering, functionality, aesthetic, and design. Those with the
highest rating will receive the "Best of Innovation"
distinction.
"This recognition from CES stands as a testament to our team's
relentless dedication and unwavering commitment towards safe and
affordable autonomous vehicle technology leadership," said Omer
Keilaf, Innoviz's CEO and Co-Founder. "The path to advanced
autonomy is developing quickly, and new cutting-edge technologies
like the InnovizCore are a critical part of unlocking increasingly
higher levels of autonomy. In addition to the functionality that it
unlocks, InnovizCore is designed to be easily integrated, compact,
and cost effective, and we are proud to receive this award for this
outstanding
product."
The InnovizCore is Innoviz's all-new compute module integrating
AI, deep learning, and computer processing to ensure a safe driving
experience for Level 2+ through Level 5 autonomous vehicles.
InnovizCore includes a powerful system-on-a-chip (SoC) processor
for executing computer vision algorithms that integrate Innoviz's
perception software and all-new LiDAR-based Minimal Risk Maneuver
(MRM) software, converting millions of pixels per second of raw
point cloud data into real-time driving decisions.
The MRM is a fail-safe system that monitors the transition phase
between autonomous and manual driving. While most MRM systems on
the road today are powered by 2D camera solutions, Innoviz is
working alongside its customer the BMW Group to co-develop the
expected first-ever LiDAR-based MRM, bringing precise 3D imaging to
this safety-critical application.
The CES 2024 Innovation Awards honorees, including product
descriptions and photos, can be found at CES.tech/innovation.
About Innoviz
Innoviz is a global leader in LiDAR technology, serving as a
Tier 1 supplier to the world's leading automotive manufacturers and
working towards a future with safe autonomous vehicles on the
world's roads. Innoviz's LiDAR and perception software "see" better
than a human driver and reduce the possibility of error, meeting
the automotive industry's strictest expectations for performance
and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by
internationally recognized premium car brands for use in consumer
vehicles as well as by other commercial and industrial leaders for
a wide range of use cases. For more information, visit
innoviz.tech.com.
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Forward Looking Statements
This announcement contains certain forward-looking statements
within the meaning of the federal securities laws, including
statements regarding the services offered by Innoviz, the
anticipated technological capability of Innoviz's products, the
markets in which Innoviz operates and Innoviz's projected future
results. These forward-looking statements generally are identified
by the words "believe," "project," "expect," "anticipate,"
"estimate," "intend," "strategy," "future," "opportunity," "plan,"
"may," "should," "will," "would," "will be," "will continue," "will
likely result," and similar expressions. Forward-looking statements
are predictions, projections and other statements about future
events that are based on current expectations and assumptions and,
as a result, are subject to risks and uncertainties. Many factors
could cause actual future events to differ materially from the
forward-looking statements in this announcement including but not
limited to, the ability to implement business plans, forecasts, and
other expectations, the ability to convert design wins into
definitive orders and the magnitude of such orders, the ability to
identify and realize additional opportunities, potential changes
and developments in the highly competitive LiDAR technology and
related industries, and our expectations regarding the
impact of the evolving conflict in Israel to our ongoing operations. The
foregoing list is not exhaustive. You should carefully consider
such risk and the other risks and uncertainties described in
Innoviz's annual report on Form 20-F filed with the SEC on
March 9, 2023 and other documents
filed by Innoviz from time to time with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Innoviz assumes no obligation and does not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise. Innoviz gives no
assurance that it will achieve its expectations.
About Consumer Technology Association:
As North America's largest
technology trade association, CTA® is the tech sector. Our members
are the world's leading innovators – from startups to global brands
– helping support more than 18 million American jobs. CTA owns and
produces CES® – the most powerful tech event in the world. Find us
at CTA.tech. Follow us @CTAtech.
About CES:
CES® is the most powerful tech event in the world – the proving
ground for breakthrough technologies and global innovators. This is
where the world's biggest brands do business and meet new partners,
and the sharpest innovators hit the stage. Owned and produced by
the Consumer Technology Association (CTA)®, CES features every
aspect of the tech sector. CES 2024 will take place Jan. 9-12, 2024, in Las
Vegas. Learn more at CES.tech and follow CES
on social.
The CES Innovation Awards are based upon descriptive materials
submitted to the judges. CTA did not verify the accuracy of any
submission or of any claims made and did not test the item to which
the award was given.
Information in this press release relating to parties other than
Innoviz, such as CTA and CES, is based on information made publicly
available by such parties and Innoviz has not independently
verified the accuracy of any such information.
Media Contact
Media@innoviz-tech.com
Investor
Contact
Investors@innoviz-tech.com
+972
54 677 8100
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