Lido/SurfaceData NEXTView Will Revolutionize Aviation Markets with Unmatched Resolution and Acuity
Production Infrastructure Has Been Implemented;
Certification Process Is Underway;
NEXTView Currently Covers 75 Countries
DENVER, July 8, 2019 /CNW/ - Intermap Technologies ("Intermap" or the "Company"), a global leader in geospatial intelligence solutions, today announced it has entered into a definitive agreement with Lufthansa Systems GmbH & Co KG (Lufthansa Systems) that formalizes the business agreement announced on December 17, 2018. The two companies have brought to market the world's first high-resolution, global geospatial terrain dataset, called Lido/SurfaceData NEXTView™ (NEXTView). Intermap has implemented a production infrastructure that is capable of handling the vast amounts of geospatial data and continual updates required by the aviation industry. In the last three months, Intermap has completed NEXTView for over 75 countries around the globe, spanning Europe, Africa and the Americas. Lufthansa Systems has initiated the certification process to ensure that NEXTView will be compatible with cockpit systems around the world.
NEXTView's resolution and acuity are revolutionizing safety and efficiency for a variety of aviation markets, including avionics and unmanned aerial vehicles (UAVs). The integration of NEXTView with terrain avoidance and warning systems (TAWS) prevents accidents by enabling these avionics to keep an aircraft a safe distance away from the ground. Synthetic Vision Systems (SVS) are enhanced with greater detail of the surroundings, providing pilots with situational awareness. UAV delivery operations are already benefiting from NEXTView by increasing efficiency of flight operations through better route planning and delivery zone planning.
"We are extremely excited to make this announcement," commented Patrick Blott, Chairman and CEO of Intermap. "This marks another successful transformation from Intermap's heritage as a data provider to a solutions provider. We aspire to deliver maximum value to our customers, and with this agreement we can add the aviation industry to insurance and telecommunications as high-value markets that we serve."
"Closing the agreement with Intermap is a big milestone for Lufthansa Systems. With this step, we are able to bring our joint certified aviation product – Lido/SurfaceData NEXTView – to the market," said Fabio Fornallaz, Product Owner of Lido/SurfaceData at Lufthansa Systems. "It's exciting to see the high quality of data for all countries added to our database. We are incredibly happy to be a part of this major development, which will significantly increase flight safety in the aviation industry."
Intermap Reader Advisory
Certain information provided in this news release, including statements in relation to the Company's remedial listing review by the TSX and consideration of an alternative stock exchange constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", "will be", "will consider", "intends" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap's forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap's Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
About Intermap Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP) (ITMSF: BB) is a global leader in geospatial intelligence solutions. The Company's proprietary NEXTMap® database and value-added geospatial data management, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data, including aviation, engineering, environmental planning, government markets, hydrology, insurance, land management, law enforcement and patrol, oil and gas, renewable energy, telecommunications, transportation and utilities. Intermap's commercial applications include location-based intelligence, risk assessment, geographic information systems, global positioning systems and 3D visualization. For more information, please visit www.intermap.com.
SOURCE Intermap Technologies Corporation
For further information: Jennifer Bakken, Executive Vice President and CFO, [email protected], +1 (303) 708-0955