Menlo Park, Calif., August 23, 2023 – Cyngn Inc. (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, and Arauco, a global sustainable forestry products, pulp, and engineered wood supplier to the furniture and construction industries, today announced the plan to deploy Cyngn’s first DriveMod Forklifts to Arauco’s Bennettsville, South Carolina facility.
On August 8, Cyngn announced that Arauco had signed an agreement for a paid pre-order of 100 DriveMod Forklifts to help them automate their material handling workflows at wood and pulp manufacturing facilities. The companies plan the initial delivery of DriveMod Forklifts to Arauco starting in mid 2024 in Bennettsville, South Carolina. Cyngn and Arauco plan to work together to expand the DriveMod autonomous fleet across Arauco’s 40+ global sites.
Arauco is a well-known and established wood products supplier with over $7 billion in revenue in 2022. Arauco supplies high-quality wood products to global customers and is committed to sustainability and carbon neutrality. With the intention of electrifying their fleet of forklifts and integrating autonomous capabilities, Arauco expects to support its environmental goals, while maximizing operational productivity, efficiency, and safety.
“Arauco’s decision to deploy its first autonomous vehicles in an American facility underscores the urgency with which these technologies need to be deployed in costly markets like those in North America. In the United States, it can be particularly difficult to hire and retain skilled employees. We are excited at the opportunity to be Arauco's vehicle automation partner and to work in support of their admirable efforts to continue striving for ESG excellence,” said Lior Tal, Chief Executive Officer of Cyngn.