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Cyngn Highlights Its Proprietary Computer Vision Advancements with NVIDIA Accelerated Computing

Cyngn has announced progress of its proprietary computer vision (CV) technology for industrial autonomous machines, built on NVIDIA accelerated computing.

Cyngn |

MENLO PARK, Calif., (June 12, 2024) – Cyngn Inc. (Nasdaq: CYN) has announced progress of its proprietary computer vision (CV) technology for industrial autonomous machines, built on NVIDIA accelerated computing. This announcement showcases the cutting-edge capabilities of Cyngn’s DriveMod solutions, highlighting how NVIDIA hardware and CUDA acceleration libraries have enabled Cyngn to develop differentiated self-driving features with artificial intelligence (AI), CV, and localization and mapping.

The DriveMod system has been successfully deployed on material handling vehicles from established manufacturers like BYD, Motrec, and Columbia Vehicle Group, catering to a diverse range of clients from private manufacturing and distribution companies to Fortune 100s like John Deere.

In collaboration with Arauco, which pre-ordered 100 DriveMod Forklifts last summer, Cyngn leveraged NVIDIA technologies to introduce sophisticated features to advance the capabilities of autonomous machines in industrial settings. The DriveMod Forklift showcases exciting capabilities in computer vision, including enumeration of the number of pallets in a tall stack and detection of non-standard pallet pockets. For full details, see Cyngn’s blog post.

“Cyngn has been a part of the NVIDIA Inception program since our early days working on AI technology,” said Cyngn’s Chairman and Chief Executive Officer, Lior Tal. “Seeing years of collaboration evolve from research and development to deploying unique product features for end customers is not only exciting, but it is also a testament to the power of NVIDIA’s cutting-edge technologies.”

About Cyngn

Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents.

Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts.

The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025.

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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 Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 6, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. 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.

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