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Cyngn Launches Enterprise Autonomy Suite v8.0

Cyngn announces the launch of Enterprise Autonomy Suite v8.0, the latest release of its comprehensive suite of autonomous driving tools.

Cyngn |

 

MENLO PARK, Calif., July 21, 2022 — Cyngn (or the “Company”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, today announced the latest release of its Enterprise Autonomy Suite (“EAS”) v8.0.

This latest release includes 138 new features, a 33% reduction in component complexity, and a 75% reduction in cloud computing costs, spanning some 27,000 new lines of code.

Improvements over previous versions of EAS include an updated cloud backend and user role infrastructure, advanced telemetry, data collection, and data pipelines, updates to data modeling and analytics dashboards, improved health monitoring, new vehicle task management through the Cyngn Mission Planner, and fully automated vehicle-to-cloud data offloading.

Beyond major changes to Cyngn’s backend and infrastructure, the EAS v8.0 release comes with the launch of the Safe Vehicle Workspace, which uses LED lights to make it easier for workers to efficiently and safely put their autonomous vehicles to work. A simple color-coding system — green, red, and blue lights — gives employees all the information they need to make the best use of the self-driving industrial vehicle during their shifts.

"This system-wide release marks a major milestone for both Cyngn and its customers”, says Lior Tal, Cyngn’s CEO. “The upgrades made to the core components of EAS bring the performance consistency, targeted insights, and product maturity that is required to drive the value that customers expect out of investments in advanced technology."

EAS v8.0 is a comprehensive suite of autonomous driving tools that work together to bring turn- key autonomous vehicle solutions to industrial companies. The newest version of EAS includes DriveMod and Cyngn Insight, which offer customers a variety of features and options to manage their fleet of industrial vehicles, either remotely or at the facility where they operate, and to interact with insightful data produced by vehicles.

EAS can be integrated on new vehicles being built on the assembly line or can be installed on existing industrial vehicles to convert an existing fleet to an autonomous vehicle fleet.

EAS consists of three core components: DriveMod, Cyngn Insight, and Cyngn Evolve.

• DriveMod is Cyngn’s full-stack autonomous driving software system, which focuses on the safe and efficient operation of autonomous vehicles. DriveMod combines AI software with sensors and computing hardware to detect relevant obstacles, understand operational environments, navigate optimal routes, and communicate the vehicle’s status and intent.

• Cyngn Insight serves as the intelligent vehicle control center, the hub for fleet management, asset tracking, vehicle task management, real-time diagnostics, and operational analytics.

• Cyngn Evolve consists of data optimization tools such as the data pipeline, performance analytics, simulation, and machine learning infrastructure.

Watch the full demo video here.

Contact

Carolyne Sohn
Vice President, The Equity Group csohn@equityny.com
(415) 568-2255

About Cyngn

Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Investor Contact:

Don Alvarez

Media Contact:

Luke Renner

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 (the "SEC"), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. 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.

Cautionary Note. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

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