Quanergy Systems Named to Top 10 List of Automotive Startups for 2015

September 15, 2015 | By Business Wire News

SUNNYVALE, Calif.

Quanergy Systems, Inc. has been chosen by the Los Angeles Auto Show’s Connected Car Expo (CCE) as one of the Top 10 Automotive Startups™ (Top 10) for its disruptive LiDAR-based smart sensing solutions for real-time 3D mapping and object detection, tracking and classification. Quanergy was chosen because of its potential to shape the future of the automotive industry and make cars safer, more accessible and more exciting.

Referring to the Top 10, “[They] impressed us with their unique perspective, the strength of their vision, and their flat-out innovation,” said Michelle Avary, lead CCE advisory board member. “These companies are beyond just cool—we think they will help make the entire automotive industry better.”

Quanergy will be recognized for its 3D time-of-flight LiDAR sensors at the 2015 Connected Car Expo on November 17, held at the JW Marriot in Los Angeles. The Top 10 list was based on the criteria of vision, innovation, unique perspective and the likelihood of technology adoption and success. CCE considers the Top 10 as true standouts among an increasing crowded field of technology companies emerging in the automotive space.

Fortune Magazine, a Top 10 media partner, dives deeper into the Quanergy solution in the September 15, 2015 issue of the magazine. “Self-driving cars rely on several types of sensors, including light detection and ranging (LiDAR) systems, in order to instantaneously monitor their position on the road and distance from other objects. LiDAR systems are pricey, costing from $8,000 to $100,000 or more per unit,” said Senior Editor Sue Callaway in the Fortune article. “Quanergy, based in Sunnyvale, Calif., says it has invented a version that costs $100 and is more reliable and accurate than its competitors’. Mercedes has already signed on as a partner.”

“We’re honored to be recognized by the CCE and Fortune Magazine, and congratulate all the companies who made the list,” said Dr. Louay Eldada, Quanergy CEO. “At Quanergy, our goal is to revolutionize the way automotive manufacturers design cars by incorporating our affordable, reliable, and capable smart sensing solid state technologies, and deliver intelligent advanced driver assist systems (ADAS), autonomous vehicles, and eventually driverless cars, which are critical for the future of safer vehicles.”

About Quanergy Systems, Inc.

Quanergy Systems, Inc. (Quanergy) was founded in 2012 and builds on decades of experience of its team in the areas of optics, photonics, optoelectronics, artificial intelligence software, and control systems. Headquartered in Sunnyvale, California, in the heart of Silicon Valley, Quanergy offers the world’s leading LiDAR sensors and software for real-time capture and processing of 3D mapping data and object detection, tracking, and classification. In transportation, the data is utilized to greatly improve the accuracy and reliability of on-board driver safety systems and enhance them with perception, scenario analysis, and decision making capability for active control, as well as enable autonomous driving in the future. Quanergy’s LiDARs lead in all six key commercialization areas (price, performance, reliability, size, weight, power consumption) while meeting the mass deployment requirement of being solid state. For more information, visit quanergy.com.