U.S. clean energy company integrates NEXTMap® for fast,
accurate solutions that drive efficiency in planning wind and solar
projects
Renewable energy is the fastest growing source in the U.S.
and growth is accelerating
DENVER, Feb. 23, 2022 /CNW/ - Intermap Technologies
(TSX: IMP) (OTCQX: ITMSF) ("Intermap" or the "Company"), a global
leader in geospatial content development and intelligence
solutions, today announced a new two-year subscription for NEXTMap®
data as a service with a leading U.S. clean energy company for
planning wind and solar projects.
This new subscription further expands Intermap's relationship
with one of the world's largest generators of renewable energy to
make geospatial intelligence more accessible to the client's entire
organization. When budgeting and permitting for new renewable
energy projects such as wind and solar, data availability,
consistency and quality are essential. The NEXTMap subscription
provides an enterprise-wide data as a service solution, offering
global coverage with consistent, high-quality digital elevation
models to support projects in all areas of operation. NEXTMap data
supports production of many critical project requirements,
including contours and slope maps for preliminary site assessments
and engineering in the planning stages of a project. The data
enables accurate budget estimations using a single source,
eliminating the need to combine multiple datasets to assess a
potential new renewable energy site. Importantly, Intermap's
elevation data as a service ensures that the best available data is
always integrated into the customer's AOIs. By accessing Intermap's
constantly maintained and upgraded 1m
elevation global base-map through the cloud, the customer obtains
actionable intelligence that is current, precise, and extremely
high-resolution in near real time.
The client is integrating Intermap's data services into its
master catalogue tool, allowing all users to search, preview and
download elevation data for any project location. The catalogue
increases resource visibility and provides a list of available data
for specific project locations, reducing the potential for siloed
data holdings and decreasing the time and cost associated with
acquiring and managing data across the whole organization.
Renewable energy is the fastest growing energy source in
the United States, increasing 42%
from 2010 to 2020 (up 90% since 2000) (Source). Over 2021-2026,
renewable energy capacity in the U.S. is expected to grow by 219
gigawatts, 65% greater than the previous five years. This is due to
the economic attractiveness of wind and solar, increased federal
interest and tax credits, a growing market for corporate power
purchase agreements and growing support for offshore wind. Solar
energy accounts for 60% of all renewable capacity additions, double
the rate over the past five years (Source). With Intermap's
global data coverage, energy companies can expand the number of
locations where they operate to meet the growing renewable energy
demand while maintaining confidence that the data will provide
accurate and consistent results across all project areas.
"We are excited to expand our offering to provide our client
with cutting-edge elevation datasets," said Patrick A. Blott, Intermap Chairman and CEO.
"Easy accessibility to geospatial data boosts productivity and
minimizes costs, which is essential for major energy companies that
manage projects across countries and multiple departments.
Intermap's data services provide team members with the necessary
data to plan and execute projects quickly and efficiently while
staying within the project's budget."
Intermap Reader Advisory
Certain information
provided in this news release 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; OTCQX: ITMSF) is a global leader in geospatial
intelligence solutions. The Company's proprietary 3D NEXTMap®
elevation datasets and value-added geospatial collection,
processing, analytics, fusion and orthorectification software and
solutions are utilized across a range of industries that rely on
accurate, high-resolution elevation data. Intermap helps
governments build authoritative geospatial datasets and provides
solutions for base mapping, transportation, environmental
monitoring, topographic mapping, disaster mitigation, smart city
integration, public safety and defense. The Company's commercial
applications include aviation and UAV flight planning, flood and
wildfire insurance, environmental and renewable energy planning,
telecommunications, engineering, critical infrastructure
monitoring, hydrology, land management, oil and gas and
transportation. For more information, please visit
www.intermap.com.
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SOURCE Intermap Technologies Corporation