Cyngn Completes First Paid DriveMod Forklift Deployment at Customer Facility
Cyngn has announced the successful completion of its first paid autonomous DriveMod Forklift deployment at a customer facility. This milestone marks a significant step in the commercialization of Cyngn's Enterprise Autonomy Suite (EAS) portfolio. The DriveMod Forklift, equipped with advanced safety systems and AI-powered computer vision, can handle loads over 10,000 lbs and navigate dynamic environments autonomously.
Ben Landen, VP of Business Development at Cyngn, highlighted the forklift's ability to autonomously complete entire material moving processes without human intervention. The company is now preparing to build and sell additional units, with integration into the customer's operations targeted for the first half of 2025. This achievement follows a series of developments, including a contract with a building materials manufacturer in 2022 and a pre-order of 100 DriveMod Forklifts from Arauco in 2023.
Cyngn ha annunciato il successo del primo deployment a pagamento del suo carrello elevatore autonomo DriveMod presso una struttura cliente. Questo traguardo segna un passo significativo nella commercializzazione del portafoglio Enterprise Autonomy Suite (EAS) di Cyngn. Il carrello elevatore DriveMod, dotato di sistemi di sicurezza avanzati e visione computazionale potenziata dall'IA, 猫 in grado di gestire carichi superiori a 10.000 libbre e di navigare autonomamente in ambienti dinamici.
Ben Landen, VP dello Sviluppo Commerciale presso Cyngn, ha sottolineato la capacit脿 del carrello elevatore di completare autonomamente interi processi di movimentazione dei materiali senza intervento umano. L'azienda si sta ora preparando a costruire e vendere ulteriori unit脿, con l'integrazione nelle operazioni del cliente prevista per la prima met脿 del 2025. Questo risultato segue una serie di sviluppi, tra cui un contratto con un produttore di materiali da costruzione nel 2022 e un pre-ordine di 100 carrelli elevatori DriveMod da Arauco nel 2023.
Cyngn ha anunciado la finalizaci贸n exitosa de su primer despliegue pagado del montacargas aut贸nomo DriveMod en una instalaci贸n cliente. Este hito marca un paso significativo en la comercializaci贸n de la suite Enterprise Autonomy Suite (EAS) de Cyngn. El montacargas DriveMod, equipado con sistemas de seguridad avanzados y visi贸n computacional impulsada por IA, puede manejar cargas superiores a 10,000 lbs y navegar en entornos din谩micos de manera aut贸noma.
Ben Landen, VP de Desarrollo Comercial en Cyngn, destac贸 la capacidad del montacargas para completar de manera aut贸noma todo el proceso de movimiento de materiales sin intervenci贸n humana. La compa帽铆a ahora se est谩 preparando para construir y vender unidades adicionales, con la integraci贸n en las operaciones del cliente programada para la primera mitad de 2025. Este logro sigue a una serie de desarrollos, incluida un contrato con un fabricante de materiales de construcci贸n en 2022 y una preorden de 100 montacargas DriveMod de Arauco en 2023.
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Cyngn a annonc茅 la r茅ussite du d茅ploiement payant de son premier chariot 茅l茅vateur autonome DriveMod dans les locaux d'un client. Cette 茅tape marque un point significatif dans la commercialisation du portefeuille Enterprise Autonomy Suite (EAS) de Cyngn. Le chariot 茅l茅vateur DriveMod, 茅quip茅 de syst猫mes de s茅curit茅 avanc茅s et de vision par ordinateur aliment茅e par IA, peut g茅rer des charges sup茅rieures 脿 10 000 lbs et naviguer de mani猫re autonome dans des environnements dynamiques.
Ben Landen, VP du d茅veloppement commercial chez Cyngn, a soulign茅 la capacit茅 du chariot 茅l茅vateur 脿 compl茅ter de mani猫re autonome l'ensemble des processus de d茅placement de mat茅riaux sans intervention humaine. L'entreprise se pr茅pare maintenant 脿 construire et 脿 vendre des unit茅s suppl茅mentaires, avec une int茅gration dans les op茅rations du client pr茅vue pour la premi猫re moiti茅 de 2025. Cet accomplissement fait suite 脿 une s茅rie de d茅veloppements, y compris un contrat avec un fabricant de mat茅riaux de construction en 2022 et une pr茅commande de 100 chariots 茅l茅vateurs DriveMod d'Arauco en 2023.
Cyngn hat die erfolgreiche Abschluss seines ersten bezahlten autonomen DriveMod Gabelstapler-Einsatzes in einer Kundenanlage bekannt gegeben. Dieser Meilenstein stellt einen bedeutenden Schritt in der Kommerzialisierung des Enterprise Autonomy Suite (EAS) Portfolios von Cyngn dar. Der DriveMod Gabelstapler, ausgestattet mit fortschrittlichen Sicherheitssystemen und KI-gest眉tzter Computer Vision, kann Lasten von 眉ber 10.000 lbs handeln und sich autonom in dynamischen Umgebungen bewegen.
Ben Landen, VP f眉r Gesch盲ftsentwicklung bei Cyngn, hob die F盲higkeit des Gabelstaplers hervor, gesamte Materialbewegungsprozesse ohne menschliches Eingreifen autonom abzuschlie脽en. Das Unternehmen bereitet sich nun darauf vor, zus盲tzliche Einheiten zu bauen und zu verkaufen, wobei die Integration in die Abl盲ufe des Kunden f眉r die erste H盲lfte des Jahres 2025 angestrebt wird. Diese Errungenschaft folgt auf eine Reihe von Entwicklungen, darunter ein Vertrag mit einem Hersteller von Baustellenmaterialien im Jahr 2022 und eine Vorbestellung von 100 DriveMod Gabelstaplern bei Arauco im Jahr 2023.
- Completed first paid autonomous DriveMod Forklift deployment at a customer facility
- DriveMod Forklift can handle loads over 10,000 lbs (4,545 kg)
- Targeting integration into customer's operations by first half of 2025
- Previous pre-order of 100 DriveMod Forklifts from Arauco
- None.
Insights
The completion of Cyngn's first paid DriveMod Forklift deployment marks a significant milestone in the company's commercialization efforts. This achievement demonstrates the product's real-world viability and sets the stage for potential revenue growth. Key points to consider:
- The successful deployment at a customer facility validates the technology's readiness for commercial use.
- Cyngn is targeting integration into the customer's operations by H1 2025, indicating a clear timeline for potential revenue realization.
- The company has already secured a pre-order of 100 DriveMod Forklifts from Arauco, suggesting strong market interest.
- Cyngn's focus on heavy loads and non-standard pallets differentiates it in a large market, potentially leading to a competitive advantage.
While this news is positive for Cyngn's growth prospects, investors should note that the company is still in the early stages of commercialization. The success of future deployments and the ability to scale production will be important for financial performance. The stock may see increased interest, but profitability likely remains a future goal.
Cyngn's DriveMod Forklift represents a significant technological advancement in the material handling industry. The key technical features that stand out are:
- 360掳 high-definition perception and Virtual Bumper technology for enhanced safety
- Advanced AI and proprietary computer vision for real-time pallet analysis
- Capability to handle loads over 10,000 lbs (4,545 kg)
- Integration with Cyngn Insight for fleet management and operational analytics
The ability to autonomously complete entire material moving flows without human intervention is a major selling point. This level of automation could significantly reduce labor costs and increase efficiency for customers. However, the true test will be in scaling the technology and ensuring consistent performance across various customer environments. The success of this initial deployment is promising, but widespread adoption will depend on the system's reliability, cost-effectiveness and ability to integrate seamlessly into existing workflows.
Details on this customer's forklift use case are being kept confidential at this time, but this achievement demonstrates the DriveMod Forklift's capability to execute the work required at a large customer facility. This milestone sets up the critical next steps of commercialization for the DriveMod Forklift, which include building and selling additional units in preparation for integration into this customer's operations, which is targeted for the first half of 2025.
"The DriveMod Forklift represents the holy grail of automation. This is one of the few machines that can autonomously accomplish entire material moving flows, from A-to-Z, without requiring human intervention," said Ben Landen, VP of Business Development at Cyngn. "This means that the market for autonomous forklifts is among the largest in comparison to other material handling vehicles, and we've carved out a differentiated niche by targeting heavy loads on non-standard pallets. This achievement allows us to validate and showcase the forklift's capabilities in real-world, high-throughput settings that capture significant value for our customer."
The DriveMod Forklift leverages advanced AI and proprietary computer vision to analyze pallet stack and pocket dimensions in real time, enabling the precise handling of loads over 10,000 lbs (4,545 kg) and elevating productivity. Customers can control the DriveMod Forklift via Cyngn Insight, the Company's sleek fleet management system that enables real-time vehicle monitoring, operational analytics, and centralized mission planning.
The DriveMod Forklift has a history of successful technological and commercial advancement. In the fall of 2022, Cyngn announced that it had with a building materials manufacturer to begin development. By the summer of 2023, Cyngn revealed the and soon followed up with an announcement that the building manufacturer, Arauco, had pre-ordered .
The DriveMod Forklift is now available for additional deployments on a select basis. Visit to learn more or explore for additional images.
About Cyngn.听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).
Find Cyngn on:
- Website: cyngn.com
- Twitter: twitter.com/cyngn
- LinkedIn: https://www.linkedin.com/company/cyngn
- YouTube: https://www.youtube.com/@cyngnhq
Investor Contact:
Don Alvarez, CFO
investors@cyngn.com
Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com
FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company's reports to 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. 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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