TEL AVIV, Israel, Oct. 1, 2021 /PRNewswire/ -- Arbe Robotics
Ltd. ("Arbe"), a global leader in next-generation 4D Imaging Radar
Solutions, today announced that it was named a 2021 Automotive News
PACEpilot Innovation to Watch at the online awards ceremony on
September 30, 2021. This award
recognizes post-pilot pre-commercial innovations in the automotive
and future mobility space. These represent product, software/IT
system or process and idea incubators that the awards committee
believe have the potential to revolutionize an automaker's
business.
"We are honored to be chosen as a 2021 Automotive News PACEpilot
Innovation to Watch," noted Kobi
Marenko, Chief Executive Officer at Arbe. "This award
demonstrates the key role that our 4D Imaging Radar is playing in
the automotive marketplace and how we are revolutionizing safety in
the ADAS and autonomous vehicle industry that will impact the
future of mobility."
Arbe was recognized for "the Power of 4D Imaging Radar to
Support Higher Levels of Autonomy." Based on proprietary
technology, Arbe's 4D imaging radar is revolutionizing automotive
sensing with an affordable, ultra-high-resolution sensor that is
designed to delivers the top performance in the industry in all
weather and lighting conditions. The company's 4D Imaging Radar
technology is now empowering customers to transform their imaging
radar systems - tier 1 auto suppliers, OEMs, and new mobility
players are enhancing their perception algorithms based on this
technology.
Arbe's 4D radar chipset solution provides ultra-high resolution
and supports over 100,000 detections per frame with a point cloud
density that is unparalleled to any other radar solution on the
market. Radars are crucial to the automotive industry and will be
deployed in nearly all new vehicles as a long range, cost-effective
sensor with the fewest environmental limitations. Arbe's 4D imaging
radar solution can truly support, in terms of both safety and
accuracy, the sensing requirements of Level 4 and Level 5
autonomous vehicles and we believe will be essential for any Level
2+ vehicle.
This was the second year Automotive News recognized PACEpilot
honorees and the first time they named Innovations to Watch.
For complete details of the Automotive News PACEpilot program
and this year's Innovations to Watch, visit
www.autonews.com/pace.
About Arbe
Arbe, the provider of next-generation 4D Imaging Radar Chipset
Solutions, is leading a radar revolution, enabling truly safe
driver-assist systems today while paving the way to full
autonomous-driving. Arbe's imaging radar is 100 times more detailed
than any other radar on the market and is a mandatory sensor for
L2+ and higher autonomy. The company is empowering automakers,
tier-1 companies, autonomous ground vehicles, commercial and
industrial vehicles, and a wide array of safety applications with
advanced sensing and paradigm-changing perception. Arbe is a leader
in the fast-growing automotive radar market that has a total
addressable market of $11 billion in
2025. Arbe is based in Tel Aviv,
Israel, and has offices in the United States. Arbe's
website is https://arberobotics.com/. Information contained on, or
that can be accessed through, Arbe's website or any other website
is expressly not incorporated by reference into and is not a part
of this press release.
On March 18, 2021, Arbe announced
that it had entered into, among other things, a definitive business
combination agreement with Industrial Tech Acquisitions, Inc.
(NASDAQ: ITAC), a publicly traded special purpose acquisition
company ("ITAC"). Subject to the satisfaction of the terms and
conditions set forth in the business combination agreement, upon
closing of the transactions, the combined company will operate
under the "Arbe Robotics Ltd." name and is expected to be listed on
Nasdaq under the new ticker symbol "ARBE."
Important Notice Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements"
within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, both as amended by the Private Securities
Litigation Reform Act of 1995. The words "expect," "believe,"
"estimate," "intend," "plan", "anticipate", "project", "may",
"should", "strategy," "future," "will," "project," "potential" and
similar expressions indicate forward-looking statements.
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.
These forward-looking statements are not guarantees of future
performance and are subject to various risks and uncertainties,
assumptions (including assumptions about general economic, market,
industry, regulatory and operational factors), known or unknown,
which could and are likely to cause the actual results to vary
materially from those indicated or anticipated. You should
carefully consider the risk factors and uncertainties described in
"Risk Factors," "Arbe's Management's Discussion and Analysis of
Financial Condition and Results of Operations," "Forward-Looking
Statements" and the additional risk described in the proxy
statement/prospectus dated September
17. 2021 which was filed by Arbe with the Securities and
Exchange Commission, as well as the other documents filed by Arbe
with the SEC, including the possibility that the business
combination described in the proxy statement/prospectus may not be
consummated. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may, and are likely to, vary materially from those
indicated or anticipated by such forward-looking statements.
Accordingly, you are cautioned not to place undue reliance on these
forward-looking statements.
Forward-looking statements relate only to the date they were
made, and Arbe does not undertake any obligation to update
forward-looking statements to reflect events or circumstances after
the date they were made except as required by law or applicable
regulation.
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