Cepton, Inc. (NASDAQ: CPTN) Reveals Use of Lidar Technology in Texas & Utah Traffic Initiative; Announces Hire of Luis Gonçalves as Director of Customer Programs

• Cepton recently revealed that its lidar technology has been deployed to bolster traffic infrastructure in Texas and Utah
• The announcement marks a continued trend, which has seen Cepton’s lidar solutions increasingly used to facilitate traffic management and smart city infrastructure – most recently announcing their multi-million contract with a leading U.S. tolling system operator
• With the company seeing growing business opportunities, as well as being fully committed to executing its flagship lidar series production program by a Top 3 automotive OEM, Cepton has looked to take the next step in its journey with the addition of Luis Gonçalves to its Detroit team
• Gonçalves will join as Director of Customer Programs and will be charged with helping Cepton bolster production volumes whilst simultaneously seeking to exploit new commercial opportunities

Lidar has firmly established its position within in-car technology, but in the city of Arlington, Texas, the technology solution may be on its way towards becoming part of the critical infrastructure on street level. Cepton (NASDAQ: CPTN), a Silicon Valley innovator and pioneer of high-performance MMT(TM) lidar solutions, recently revealed that its lidar technology had been used in a series of groundbreaking studies in Texas and Utah, designed to help improve traffic safety for all road users (https://ibn.fm/8u7Hf). The deployment of lidar technology in Arlington and Irving, Texas as well as in Salt Lake City, Utah has been designed to enable operators to monitor pedestrians’ walking speeds, examine pedestrian and driver adherence to road safety regulations, as well as track ‘near misses’ for pedestrians and vehicles. Going forward, lidar could help city authorities tailor traffic signals to travelers’ needs, potentially allowing for the adjustment of signal timing in real time as well as potentially warning vehicles of potential unseen hazards ahead.

Dr. Jun Pei, CEO of Cepton commented on the deployment of Cepton’s Lidar solutions within the United States’ traffic infrastructure, “Pedestrian safety is essential to people-oriented transportation. We are thrilled that Cepton’s technology has been utilized in such ground-breaking studies and deployments that could revolutionize the way intersections are designed and operated. Our advanced lidar perception solution is designed to provide accurate, real-time 3D analytics that ultimately helps improve the walkability of streets. I am excited to see Helius deployed in more U.S. cities to help transform America’s traffic infrastructure, making safe, smart mobility accessible to everyone.”

Although the use of lidar within road safety infrastructure within the U.S. remains at a relatively nascent stage, the technology has rapidly obtained its acceptance. In early 2022, Cepton announced that its technology was being used to facilitate lidar-based vehicle detection in Cape Town, South Africa. City authorities used Cepton’s lidars to enable pedestrian and vehicle classification. Enabled by lidar, and with an AI platform to understand how both interact with the city environment, allowed for the collection of critical information needed to facilitate both traffic management and urban planning (https://ibn.fm/7IM9W).

In February 2022, Cepton announced a multi-million contract with a leading U.S. tolling system operator, where Cepton lidars will be deployed nationwide to enable accurate and intelligent tolling applications. Cepton has been shipping products to the customer to enable free-flow e-tolling systems on several major tollways located in the Tri-State area and Northern California.

Since its inception in 2016, Cepton has witnessed its innovative lidar based solutions rapidly superseding their original stated goal of facilitating advanced driver assistance systems (“ADAS”) and autonomous vehicle development, with the company’s Helius(TM) Smart Lidar System now also being used to support smart city infrastructure and traffic management systems the world over.

With the company seeking to build upon their recent success, Cepton have just announced the addition of Luis Gonçalves to their Detroit team as the company’s Director of Customer Programs (https://ibn.fm/vjGwD). Boasting extensive experience, having worked at both General Motors and Honda in the past, the industry veteran will be charged with supporting the company’s volume production ramp in support of its lead OEM customers as well as to garner future production awards from other automotive customers.

“Cepton is pioneering the mass-market commercialization of lidar, and I am excited to become part of its vision of enabling safe and autonomous transportation for everyone,” said Gonçalves. “In my previous role at GM, I became very familiar with Cepton lidars through extensive benchmarking and testing efforts on real vehicles, in real-world scenarios. I hope to contribute to Cepton’s successful execution of its flagship lidar program through the production validation and volume production ramp phases this year. I also look forward to applying my learnings from the automotive industry to help solidify Cepton’s next series production award.”

‍For more information, visit the company’s website at www.Cepton.com.

NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN

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