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Cyngn's Proprietary Computer Vision Achieves Arauco's Complex Application Requirements by Utilizing Ouster Lidar in a Multi-Sensor System
Cyngn uses Ouster's REV7 lidar sensors to maximize DriveMod's self-driving capabilities and detect pallet stack attributes MENLO PARK, Calif., Aug. 22, 2023
About this update from Cyngn Inc.
[{"type":"text","content":"Cyngn uses Ouster's REV7 lidar sensors to maximize DriveMod's self-driving capabilities and detect pallet stack attributes\nMENLO PARK, Calif., Aug. 22, 2023 /PRNewswire/ -- Cyngn Inc. (the \"Company\" or \"Cyngn\") (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, recently secured a pre-order of 100 DriveMod Forklifts from Arauco, a global provider of sustainable forestry products. Once deployed, this order represents up to $5 million in annual recurring EAS license revenues while addressing only a small portion of Arauco's existing forklift fleet.\n\n \n \n \n \n \n \n\n \nCyngn and Arauco announced their collaboration after a successful paid project that achieved Arauco's requirements for moving large, heavy wood bundles on unstandardized pallets; the requirements were previously unmet by existing industrial automation solutions. Arauco initially selected Cyngn for the project based on the Company's demonstrated ability to operate many different vehicle types autonomously using its advanced DriveMod software. The project was executed successfully in collaboration with BYD, resulting in a first-of-its-kind electric autonomous BYD forklift (\"DriveMod Forklift\").\nDriveMod is an end-to-end autonomy system that enables the conversion of standard industrial vehicles into fully autonomous ones by utilizing Ouster's advanced lidar sensors, other AV hardware components, and Cyngn's software stack and AI models. DriveMod can be installed into new vehicles off the assembly line or retrofitted into existing vehicles. With advanced lidar sensing, the DriveMod platform performs at levels higher than autonomous industrial vehicles that use legacy sensor technology.\nSince partnering with Ouster in January 2023 and adding the REV7 digital lidar sensor to its DriveMod platform, Cyngn has delivered products to customers and forged partnerships to manufacture electric autonomous DriveMod Stockchasers (Columbia Vehicle Group), DriveMod Tuggers (Motrec), and DriveMod Forklifts (BYD) with leading manufacturers eager to meet the growing demand for autonomous industrial vehicles.\n\"Cyngn is pushing the boundaries of industrial autonomy with their AI-powered DriveMod platform,\" said Angus Pacala, CEO of Ouster. \"By adding our high-performance REV7 sensors to the DriveMod platform, Cyngn gives eye...