- Deployments of Cyngn's DriveMod Tugger and Forklift have now
included four key sectors: Manufacturing, Consumer Packaged Goods,
Logistics, and Defense
- Use cases are diverse and highlight adaptability, scalability,
and different value propositions of Cyngn's solutions.
- Reflects market demand to adopt industrial automation across
Cyngn's broadening customer base.
MENLO
PARK, Calif., Feb. 19,
2025 /PRNewswire/ -- Cyngn Inc. (the "Company" or
"Cyngn") (Nasdaq: CYN) today announced that it has deployed
DriveMod Tuggers and DriveMod Forklifts to serve use cases across
several industries, including Manufacturing, Consumer Packaged
Goods, Logistics, and Defense. This milestone reinforces Cyngn's
leadership in delivering innovative autonomous vehicle (AV)
solutions to industries requiring cutting-edge efficiency, safety,
and adaptability.
"The strong demand we're seeing across industries like
Manufacturing, Consumer Packaged Goods, Logistics, and Defense
highlights the clear product-market fit of our DriveMod
technology," said Lior Tal, Cyngn's
CEO. "From the rigorous standards of the defense sector to the
high-volume operations of consumer packaged goods, our solutions
have proven their ability to meet the unique demands of each
environment. These deployments validate the need for scalable,
autonomous solutions and reinforce the growing appetite for
innovation in industrial automation."
Below, we summarize key deployments and their significance
across these sectors:
Manufacturing: Streamlining Intra-Facility Logistics
Cyngn recently secured a signed Letter of Intent (LOI) from a
major automotive supplier to deploy multiple DriveMod Tuggers in
the first half of the year. DriveMod Tuggers will enable this
global automotive supplier to optimize material handling across its
expansive network of facilities, increasing operational efficiency
and minimizing downtime.
Additionally, in January, Cyngn initiated a production
deployment with COATS Company, the largest full-line wheel service
equipment manufacturer in North
America. The DriveMod Tugger deployment is underway at
COATS' 150,000+ square foot manufacturing facility in La Vergne, Tennessee.
Cyngn's expanding presence in the manufacturing sector is
further supported by its recent paid deployment of a DriveMod
forklift with a manufacturer in a different sector.
Consumer Packaged Goods: Revolutionizing High-Volume
Logistics
The fast-paced Consumer Packaged Goods (CPG) sector presents
unique challenges, including high throughput demands and safety
considerations. Cyngn's recent deployment of DriveMod Tuggers at a
major CPG distribution company highlights the versatility of EAS in
addressing these challenges.
By integrating DriveMod Tuggers into its intra-facility
operations, the unnamed CPG giant aims to streamline distribution
workflows.
Defense: Meeting Stringent Industry Standards
Cyngn's DriveMod Tugger deployment at a major defense
contractor's facility showcases the adaptability of its AV
solutions in highly regulated environments. While specific details
remain confidential for security reasons, this deployment reflects
Cyngn's capability to meet the rigorous operational needs of the
aerospace and defense sector.
Logistics: Enabling Autonomous Fulfillment
Cyngn successfully deployed its DriveMod technology at Global
Logistics and Fulfillment LLC's Las
Vegas distribution center, integrating autonomous vehicles
into its warehouse operations. The deployment improved workflow
efficiency and provided enhanced operational visibility, enabling
GLF's team to focus on mission-critical tasks. This success
showcased the scalability of Cyngn's solutions in
logistics-intensive environments.
About Cyngn
Cyngn develops and deploys scalable, differentiated autonomous
vehicle technology for industrial organizations. Cyngn's
self-driving solutions allow existing workforces to increase
productivity and efficiency. The Company addresses significant
challenges facing industrial organizations today, such as labor
shortages, costly safety incidents, and increased consumer demand
for eCommerce.
Cyngn's DriveMod Kit can be installed on new industrial vehicles
at end of line or via retrofit, empowering customers to seamlessly
adopt self-driving technology into their operations without high
upfront costs or the need to completely replace existing vehicle
investments.
Cyngn's flagship product, its Enterprise Autonomy Suite,
includes DriveMod (autonomous vehicle system), Cyngn Insight
(customer-facing suite of AV fleet management, teleoperation, and
analytics tools), and Cyngn Evolve (internal toolkit that enables
Cyngn to leverage data from the field for artificial intelligence,
simulation, and modeling). For all terms referenced within, please
refer to the Company's annual report on Form 10-K with the
Securities and Exchange Commission (the "SEC") filed on
March 7, 2024.
Find Cyngn on:
- Website: https://cyngn.com
- X: https://x.com/cyngn
- LinkedIn: https://www.linkedin.com/company/cyngn
- YouTube: https://www.youtube.com/@cyngnhq
Investor Contact:
Donald Alvarez, CFO
investors@cyngn.com
Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Any
statement that is not historical in nature is a forward-looking
statement and may be identified by the use of words and phrases
such as "expects," "anticipates," "believes," "will," "will likely
result," "will continue," "plans to," "potential," "promising," and
similar expressions. These statements are based on management's
current expectations and beliefs and are subject to a number of
risks, uncertainties and assumptions that could cause actual
results to differ materially from those described in the
forward-looking statements, including the risk factors described
from time to time in the Company's reports to the Securities and
Exchange Commission SEC, including, without limitation the risk
factors discussed in the Company's annual report on Form 10-K filed
with the SEC on March 7, 2024.
Readers are cautioned that it is not possible to predict or
identify all the risks, uncertainties and other factors that may
affect future results. No forward-looking statement can be
guaranteed, and actual results may differ materially from those
projected. Cyngn undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
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SOURCE Cyngn
