Cyngn Files Patent for DriveMod Kit, an Adaptive, Turnkey Autonomous Vehicle Solution
February 15 2022 - 8:05AM
Business Wire
Cyngn adds DriveMod Kit to its technology portfolio, a kit
designed to streamline integration of Cyngn’s autonomous vehicle
technology for both retrofitting existing industrial vehicles and
manufacturing new vehicles.
Cyngn (or the “Company”) (Nasdaq: CYN), a developer of
innovative autonomous driving software solutions for industrial and
commercial enterprises, today announced the filing of a patent for
DriveMod Kit, the latest in industrial autonomous vehicle (“AV”)
technology integration.
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the full release here:
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Cyngn has filed a patent for DriveMod
Kit, a complete autonomy integration package designed to streamline
the retrofitting of existing industrial vehicles or installation
into newly manufactured vehicles. Source: Cyngn
“DriveMod Kit is an all-in-one autonomy integration package. It
enables the conversion of standard industrial vehicles into fully
autonomous vehicles,” said Cyngn CEO, Lior Tal. “The kit contains
advanced sensors and hardware components that streamline retrofit
of industrial vehicles that customers already own, or installation
into vehicles coming directly off of the assembly line. DriveMod
Kit presents a truly scalable solution for AV technology
integration.”
DriveMod Kit was developed by Cyngn to support faster and more
cost-effective deployments of industrial autonomy solutions,
thereby solving major scalability and adoption issues faced by
companies interested in utilizing AV technology. DriveMod Kit
simplifies what can otherwise be a complex installation
process.
More broadly, DriveMod Kit represents a continuation of Cyngn’s
ongoing effort to develop a suite of defensible and proprietary
technologies to enable the rapid adoption of its autonomous vehicle
technology.
“DriveMod Kit is the latest addition to Cyngn’s more than 25
filed patents, which span a wide array of autonomous vehicle
technologies,” said Biao Ma, Cyngn’s Vice President of Engineering
and Head of Autonomy. “Our technology stack consists of more than
80 elements, which range from sensor fusion algorithms to data
processing pipelines and allow us to bring our self-driving
solutions to a variety of industrial domains.”
In December, Cyngn hosted an AV Technology Webinar detailing the
more than 80 different elements that use proprietary Cyngn
autonomous vehicle technology.
To view a video rendering of DriveMod kit, please click
here.
About Cyngn
Cyngn is an autonomous vehicle technology company that is
focused on addressing industrial uses for autonomous vehicles.
Cyngn believes that technological innovation is needed to enable
the adoption of autonomous industrial vehicles that will address
the substantial industry challenges that exist today. These
challenges include labor shortages, lagging technological
advancements from incumbents, and high upfront investment
requirements. Cyngn addresses these challenges with its Enterprise
Autonomy Suite, which includes DriveMod (modular industrial vehicle
autonomous driving software), Cyngn Insight (customer-facing
software suite for monitoring/managing AV fleets and
aggregating/analyzing data), and Cyngn Evolve (internal toolkit
that enables Cyngn to leverage data from the field for artificial
intelligence, simulation, and modeling).
To learn more about Cyngn’s autonomous vehicle technologies,
please visit https://cyngn.com/.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Any
statement that is not historical in nature is a forward-looking
statement and may be identified by the use of words and phrases
such as "expects," "anticipates," "believes," "will," "will likely
result," "will continue," "plans to," "potential," "promising," and
similar expressions. These statements are based on management's
current expectations and beliefs and are subject to a number of
risks, uncertainties and assumptions that could cause actual
results to differ materially from those described in the
forward-looking statements, including the risk factors described
from time to time in the Company’s reports to the SEC. No
forward-looking statement can be guaranteed, and actual results may
differ materially from those projected. Cyngn undertakes no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or
otherwise. Readers are cautioned that it is not possible to predict
or identify all the risks, uncertainties and other factors that may
affect future results.
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For more information: Carolyne Sohn Vice President, The
Equity Group csohn@equityny.com (415) 568-2255
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