Aeva’s High-Resolution FMCW LiDAR Technology
Selected for Ability to Detect Overhead Power Lines
Aeva® (NYSE: AEVA), a leader in next-generation sensing and
perception systems, and Joowon Industrial, a South Korean global
distributor and supplier of world-class testing equipment, today
announced that Joowon has selected Aeva’s Aeries II 4D LiDAR for
its automated power line inspection and analysis system.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240312664246/en/
A vehicle equipped with Joowon TADS and
Aeva 4D LiDAR for power line inspection (Graphic: Business
Wire)
Power line inspection and analysis is a crucial yet
predominantly manual process for most utilities. The inspection
process entails deploying a considerable number of inspectors who
physically survey the utility's service area and assess the
condition of the lines. Their tasks encompass identifying worn
components, pinpointing hot spots that may signify issues, and
noting potential interference from vegetation. This process is
costly and time-intensive, necessitating regular inspection to
uphold the reliability of the power grid.
Joowon Industrial's TADS (Thermography Auto analysis Diagnosis
System) is an automated solution for this process. A vehicle
outfitted with sensors including GPS, azimuth sensors, traditional
cameras, infrared sensors and LiDAR automatically capture images of
the lines and analyze them for potential issues. According to
Joowon, the automated TADS system can process up to three-times
more locations than the previous manual process, and the system
improves the issue detection rate from 120%-200%. TADS empowers
electric contracting companies to achieve approximately 80% savings
on overhead power line inspection and management. Recently,
Joowon's TADS system adopted Aeva’s 4D LiDAR technology to
construct a multi-dimensional model of power lines and the
surrounding vegetation swiftly and accurately. This advancement is
expected to yield further reductions in costs and enhancements in
the quality of powerline inspection processes.
“Joowon’s TADS system represents a step-change in bringing
safety and convenience to power grid maintenance, and with the use
of Aeva’s 4D LiDAR technology, a new layer of accuracy and
reliability is added,” said Barrs Lang, Vice President of Global
Sales at Aeva. “We look forward to working with Joowon to help them
scale their solution in the market.”
“We selected Aeva’s 4D LiDAR technology because its Ultra
Resolution feature delivers high resolution sensing capabilities at
long ranges, easily capable of detecting overhead power lines. This
allows us to detect potential areas of concern more clearly so our
global customers can ensure the reliability of their power grid,”
said Mr. Doo Hoon Yoon, Joowon Industrial's President. “We are
pleased with the results and look forward to a long-standing
collaboration with Aeva as we continue to bring innovative
solutions to market to improve the quality of life in the 21st
century.”
About Joowon Industrial
Joowon Industrial Co., Ltd. is a distributor supplying
world-class test equipment to customers in various fields in Korea.
In particular, we are focusing on product sales activities to
customers of the global environment, automation, safety, and energy
sectors to improve the quality of life in the 21st century.
In partnership with KEPCO (Korea Electrical Power Corporation),
Joowon is one of the leading manufacturers and developers of
advanced equipment of thermal imaging solutions for inspection of
customers' facilities in South Korea and several countries
around.
Joowon is committed to technology development and innovation to
provide the best quality products and future-oriented solutions to
our customers.
For more information, visit www.joowon.co.kr
About Aeva Technologies, Inc. (NYSE: AEVA)
Aeva’s mission is to bring the next wave of perception to a
broad range of applications from automated driving to industrial
robotics, consumer electronics, consumer health, security and
beyond. Aeva is transforming autonomy with its groundbreaking
sensing and perception technology that integrates all key LiDAR
components onto a silicon photonics chip in a compact module. Aeva
4D LiDAR sensors uniquely detect instant velocity in addition to 3D
position, allowing autonomous devices like vehicles and robots to
make more intelligent and safe decisions. For more information,
visit www.aeva.com, or connect with us on X or LinkedIn.
Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva
Ultra Resolution, Aeva CoreVision, and Aeva X1 are
trademarks/registered trademarks of Aeva, Inc. All rights reserved.
Third-party trademarks are the property of their respective
owners.
Forward looking statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Forward-looking
statements in this press release include our beliefs regarding our
product features, performance and our relationship with Joowon.
Many factors could cause actual future events to differ materially
from the forward-looking statements in this press release,
including, but not limited to: (i) the fact that Aeva is an early
stage company with a history of operating losses and may never
achieve profitability, (ii) Aeva’s limited operating history, (iii)
the ability to implement business plans, forecasts, and other
expectations and to identify and realize additional opportunities,
(iv) the ability for Aeva to have its products selected for
inclusion in OEM products, (v) the ability to manufacture at
volumes and costs needed for commercial programs, (vi) no assurance
or guarantee that any of our customers, including any programs
which we included in our order book estimates will ever complete
such testing and validation with us or that we will receive any
billings or revenues forecasted in connection with such program,
and (vii) other material risks and other important factors that
could affect our financial results. Please refer to our filings
with the SEC, including our most recent Form 10-Q and Form 10-K.
These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Aeva assumes no obligation and does not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Aeva does
not give any assurance that it will achieve its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240312664246/en/
Media: Michael Oldenburg press@aeva.ai
Investors: Andrew Fung investors@aeva.ai
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