QNGY stock is up more than 80% on February 18, 2022, after the company announced a day earlier that it had sold 1,000 sensors in Q4.
Quanergy Secures Orders for Over 1,000 Sensors for IoT Applications
On February 17, 2022, Quanergy Systems, Inc., (NYSE: QNGY and QNGY.WS) a leading provider of OPA-based solid-state LiDAR sensors and smart 3D solutions for automotive and IoT, announced today that in Q4, 2021 the company secured orders for over 1,000 sensors for a broad range of IoT applications.
Quanergy smart LiDAR solutions, coupling high-performance, long-range LiDAR sensors with highly accurate perception software, are disrupting several IoT markets by providing advanced security for critical infrastructures, next generation people counting and flow management for smart spaces and smart cities, as well as precise object detection and collision avoidance for a growing number of industrial automation applications.
“Quanergy is expanding our business and helping us deliver new solutions,” said Bin Liu, President at Shanghai Wise. “We are using Quanergy to provide inventive solutions to businesses across transportation, energy, manufacturing and logistics. We use their smart LiDAR solutions to detect height limitations and do volumetric measurement, for flow management and people counting to reduce long lines in retail, gyms and public spaces. We also help various customers improve their overall operational safety by identifying and tracking authorized operators in dangerous operations zones.”
“In the coming years LiDAR solutions will become increasingly disruptive in the security market for critical infrastructure,” says Mark O’Reilly, Head of Innovation at QuantumLABS. “Quanergy LiDAR solutions provide a fully meshed architecture capable of providing very high levels of accuracy around the perimeter of high security facilities. Having worked in high security environments for many years I realized that flooding a site with cameras overloads the people in the control rooms and there had to be a smarter way. Being able to reduce the distractions from false alarms and understand where people are, their velocity and what they’re doing allows you to provide a security solution that people feel confident in using.”
“We are excited to grow together and look forward to a long-term relationship,” said Carol Zhang, General Manager at Suffice. “We’ve been in business for over 35 years and we look to Quanergy as an innovative partner to help us grow. Quanergy smart LiDAR solutions have helped our industrial customers build fully automated operation systems in factories, container ports, bulk materials ports etc. We also have a number of customers using Quanergy’s smart LiDAR sensor for robotic and drone-based mapping applications.”
“Q4 21 was an excellent finish to what started as a challenging year,” said Brad Sherrard, Chief RevenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... Officer at Quanergy. “The orders secured for over 1,000 sensors underscore the business impact that our smart LiDAR solutions are providing customers and partners worldwide to unlock the full power of their IoT applications.”
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