Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, outrageously
fun, ultra-efficient electric vehicles for moving people and stuff,
today announced that it has joined SoCal Tech Bridge’s Project
Vesta, an innovative public-private partnership designed to
mitigate wildfires using a combination of next-generation
technologies, powered by AI, 5G, and ultra-efficient vehicles.
In collaboration with TESIAC, a Managed Services Platform that
delivers Infrastructure-as-a-Service to public and private
entities, and a member of the Project Vesta leadership team,
Arcimoto will participate in the first Project Vesta live
experiment from February 14 to 18 at Camp Roberts in San Miguel,
CA. The Vesta Team will be testing an unmanned fire mitigation
prototype that combines state-of-the-art technology to identify
risk, reduce response time, and support wildfire mitigation
efforts. The Joint Interagency Field Experimentation will take
place on Camp Roberts in a primarily grassland environment.
“Fires start small, so the faster we can identify and locate a
growing wildfire and deploy the appropriate tools, the more we can
mitigate this growing problem, saving billions of dollars in
damages to our forests and communities, while making the emergency
safer for the boots on the ground,” said Jesse Fittipaldi, Arcimoto
Chief Strategy Officer. “The idea is elegant and simple, bringing
together some of our most exciting technologies: use AI to scan the
skies for smoke trails, dispatch fire-fighting drones and
ultra-efficient vehicles using 5G connectivity to quickly arrive on
the scene, buying valuable time for firefighters to arrive before a
small fire has a chance to grow into a wildfire.”
The Project Vesta team is passionate about developing and
sharing better, quicker, and safer means to deal with wildfires.
The program goals are rapid fire identification, mapping, and
timely containment agents on target, coupled with persistent fire
surveillance, analytics capabilities, and convenient
interoperability.
“Wildfires are a wicked problem continually growing in severity
and scope, and this prototype has the potential to identify fire
risk, reduce response time, and decrease direct firefighter
engagement,” said Captain Ben Cohen, USMC. “Humans are still deeply
engaged in the process, but at a safer distance. We are excited to
be a part of such meaningful work.”
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http://arcimoto.com/ir.
About Arcimoto, Inc.Arcimoto (NASDAQ: FUV)
develops and manufactures ultra-efficient and affordable electric
vehicles to help the world shift to a sustainable transportation
system. Arcimoto vehicles are currently available for reservation
in California, Oregon, Washington, Nevada, Arizona, and Florida,
and for preorder worldwide. Our flagship vehicle, the Arcimoto
FUV®, is purpose-built for everyday driving and transforms ordinary
trips into pure-electric joyrides. Launched in 2021, the all-new
Arcimoto Roadster is designed to be the ultimate open-road fun
machine and is the purest expression of the Arcimoto Platform. The
Deliverator® and Rapid Responder™ provide last-mile delivery and
emergency response functionality, respectively, at a fraction of
the cost and environmental impact of traditional gas-powered
vehicles. Expected to launch in 2022, the Flatbed represents
Arcimoto’s vision of a pure-electric, rightsized utility pickup
truck. The upcoming Cameo™ is designed to create a smooth, silent,
sustainable camera vehicle for the film and influencer industries.
Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant
in Eugene, Oregon. For more information, please visit
Arcimoto.com.
About NavalX SoCal Tech BridgeSoCal Tech
Bridge, the regional arm of the U.S. Navy’s NavalX program, has
been operating for several years to promote and validate a
non-traditional partnership of industry, installations, and
research. CANA Advisors have worked closely with them to advance
their innovation mission with technology and market research;
modeling, simulation, and analysis support; event planning and
marketing; and stakeholder engagement. MCAS Miramar, San Diego,
California, has been the testbed for much of the work. Successes
there include the development and establishment of an Autonomous
Vehicle (AV) Proving Grounds, a 5G Living Lab for 5G technology
innovation, and an Electric Mobility Living Lab to support
knowledge transfer, testing, and refinement of electric mobility
employment concepts. The research, analysis, planning, and
execution of these ideas have been supported by numerous
public-facing, learning and collaborative events.
About TESIACTESIAC is an Economic Development
and Managed Services Platform that delivers
Infrastructure-as-a-Service to public and private entities through
flexible project management and innovative financial structures.
TESIAC operates at the nexus of mobility, technology, energy, and
capital markets. By doing so, TESIAC enables integrated and
interoperable systems to enhance overall efficiencies, increase
operational performance, and create layers of sustainable value.
TESIAC brings together an experienced interdisciplinary team and
partners with new and advanced technologies, as well as flexible
and innovative capital structures. Our core principles are centered
around smart city development with a focus on climate, social
equity, and job creation.
Safe Harbor / Forward-Looking StatementsExcept
for historical information, all of the statements, expectations,
and assumptions contained in this press release are forward-looking
statements. Forward-looking statements include, but are not limited
to, statements that express our intentions, beliefs, expectations,
strategies, predictions or any other statements relating to our
future activities or other future events or conditions. These
statements are based on current expectations, estimates and
projections about our business based, in part, on assumptions made
by management. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict and include, without limitation, our
expectations as to vehicle deliveries, the establishment of our
service and delivery network and our expected rate of production.
Therefore, actual outcomes and results may, and are likely to,
differ materially from what is expressed or forecasted in the
forward-looking statements due to numerous factors discussed from
time to time in documents which we file with the SEC. In addition,
such statements could be affected by risks and uncertainties
related to, among other things: our ability to manage the
distribution channels for our products, including our ability to
successfully implement our rental strategy, direct to consumer
distribution strategy and any additional distribution strategies we
may deem appropriate; our ability to design, manufacture and market
vehicle models within projected timeframes given that a vehicle
consists of several thousand unique items and we can only go as
fast as the slowest item; our inexperience to date in manufacturing
vehicles at the high volumes that we anticipate; our ability to
maintain quality control over our vehicles and avoid material
vehicle recalls; the number of reservations and cancellations for
our vehicles and our ability to deliver on those reservations;
unforeseen or recurring operational problems at our facility, or a
catastrophic loss of our manufacturing facility; our dependence on
our suppliers; changes in consumer demand for, and acceptance of,
our products: changes in the competitive environment, including
adoption of technologies and products that compete with our
products; the overall strength and stability of general economic
conditions and of the automotive industry more specifically;
changes in laws or regulations governing our business and
operations; costs and risks associated with potential litigation;
and other risks described from time to time in periodic and current
reports that we file with the SEC. Any forward-looking statements
speak only as of the date on which they are made, and except as may
be required under applicable securities laws, we do not undertake
any obligation to update any forward-looking statements.
Public Relations Contact:Megan Kathman(651)
785-3212pr@arcimoto.com
Investor Relations
Contact:investor@arcimoto.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d6925733-9d38-4af9-b840-69b308bd9c91
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