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Cyngn Executes Letter of Intent to Sell Multiple DriveMod Tuggers to Major Automotive Supplier

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MENLO PARK, Calif., Oct. 31, 2024 /PRNewswire/ — Today, Cyngn announced that it has received a signed Letter of Intent (LOI) from a major automotive supplier to sell and deploy multiple DriveMod Tuggers in early 2025. This achievement demonstrates Cyngn’s continued traction with its Enterprise Autonomy Suite (“EAS”) automation solutions for heavy manufacturing industries. Just last week, Cyngn announced a new contract with a different automotive manufacturing customer.

The automotive supplier—who remains unnamed due to confidentiality—will utilize the DriveMod Tuggers to streamline intra-facility logistics. The global automotive supplier has several similar distribution facilities as well as manufacturing facilities in North America alone.

“This milestone is another proof point of Cyngn’s automation solutions achieving product-market fit with the automotive industry,” said Lior Tal, CEO of Cyngn. “Automotive manufacturers are among the top robotics adopters in the world because of the competitive advantage derived from automation in this high-volume, heavy manufacturing industry. We hope to be able to share additional details on the customer and the nature of the deployment in the future.”

The DriveMod Tuggers leverage advanced AI and a comprehensive suite of safety features, including 360° vision and collision avoidance systems, enabling seamless navigation in complex environments. Equipped with Cyngn Insight, Cyngn’s fleet management and analytics platform, customers can remotely monitor and control fleets of autonomous vehicles, ensuring efficient coordination and task execution in real time.

As industries increasingly embrace automation, Cyngn continues to deliver scalable autonomous solutions tailored to the evolving demands of modern manufacturing and logistics. For more information on Cyngn’s DriveMod Tuggers and other autonomous vehicle solutions, visit https://www.cyngn.com/vehicles/autonomous-tugger.

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).

Find Cyngn on:

Website: cyngn.comTwitter: twitter.com/cyngnLinkedIn: https://www.linkedin.com/company/cyngnYouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don 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 and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the Securities 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. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

 

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PropXP Launches, Redefining Prop Trading with Global Access

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PropXP Launches Global Prop Trading Platform, Empowering Traders with Flexible Challenges and Comprehensive Resources

HONG KONG, Nov. 10, 2024 /PRNewswire-PRWeb/ — PropXP, a new proprietary trading firm, is excited to announce its official launch on November 5, 2024, offering traders worldwide a unique and accessible approach to prop trading. With a focus on providing traders of all experience levels with attainable challenges and unparalleled resources, PropXP aims to reshape the prop trading landscape.

At PropXP, we’re breaking down barriers in prop trading to give every trader—from beginners to seasoned pros—the opportunity to succeed on their own terms. We’re here to empower and elevate the global trading community.

PropXP’s lineup includes both One-Step and Two-Step challenges, allowing traders to select a path that best aligns with their goals. Challenge prices range from just $30 for a $3,000 account up to $499 for a $100,000 account, making it possible for more traders to participate and advance their careers. Distinguishing itself from competitors, PropXP does not enforce a high watermark, a feature that allows traders to keep their focus on consistent growth without restrictive conditions.

“As we launch PropXP, our mission is clear: we aim to be the new gold standard for prop trading and open the doors for more traders than ever before to achieve their trading goals,” said Giorgos Piskopianos, CEO of PropXP. “Our accessible challenges, supportive trading resources, and commitment to providing realistic opportunities are at the heart of PropXP. We want to empower traders to reach new heights in their careers.”

In addition to its flexible challenge parameters, PropXP offers a comprehensive trading academy filled with educational resources, including in-depth tutorials and guides. With a commitment to accessibility, PropXP is poised to serve as a valuable platform for traders looking to refine their skills and achieve sustainable success in the financial markets.

About PropXP

PropXP is a global proprietary trading firm based in Limassol, Cyprus. Designed to support traders of all levels, PropXP provides accessible challenges, competitive trading conditions, and extensive educational resources. With a dedication to advancing prop trading, PropXP aims to empower traders worldwide.

For more information, please visit https://propxp.com

Media Contact

Giorgos Piskopianos, PropXP, 44 7789874973, social@propxp.com, https://propxp.com

Twitter, LinkedIn

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Decode economic ties between GBA and Colombia from a cup of coffee

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GUANGZHOU, China, Nov. 4, 2024 /PRNewswire/ — News report from GDToday.

The Guangdong-Hong Kong-Macao Greater Bay Area (GBA), one of China’s most open and economically dynamic regions, is deepening its business ties with Colombia.

What is the current status of economic and trade exchanges between the GBA and Colombia? How do Colombians view the region? And what specific opportunities do they see in this thriving area? In this episode, GDToday’s reporters explored these questions in depth, starting from a cup of Colombian coffee.

View original content to download multimedia:https://www.prnewswire.com/news-releases/decode-economic-ties-between-gba-and-colombia-from-a-cup-of-coffee-302300610.html

SOURCE GDToday

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SGT25 draw together 400+ European power grid technical professionals for a review of the latest grid transformation projects

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Recent research carried out by Smart Grid Forums with over 100 European power grid professionals revealed growing concern that eroding supply chain reliability, workforce stability, and OT cybersecurity are inhibiting grid transformation projects, delaying renewables integration, and impacting Europe’s future energy security.

THE HAGUE CONFERENCE CENTRE, The Netherlands, Nov. 10, 2024 /PRNewswire-PRWeb/ — Recent research carried out by Smart Grid Forums with over 100 European power grid professionals revealed growing concern that eroding supply chain reliability, workforce stability, and OT cybersecurity are inhibiting grid transformation projects, delaying renewables integration, and impacting Europe’s future energy security.

Driving grid modernisation in the context of geopolitical tensions, supply chain disruptions, and workforce uncertainty to guarantee future energy security in Europe

It is with this in mind that Smart Grid Forums launch their 6th annual SGT25 conference, with an extended day of strategic plenary sessions addressing the big picture issues impacting the sector, followed by a technical programme show casing the best of the grid modernisation projects across TSO and DSO organizations.

“European utilities have never been under more pressure to deliver grid transformation whilst navigating the complexities of global supply chain disruptions, workforce uncertainties, and a more geopolitically malicious cyber threat landscape” said Mandana White, CEO of Smart Grid Forums. “It is at times like these that utilities must come together to gain clarity on the big picture, compare their experiences, and unify to tackle the path ahead with innovative new strategies and greater energy and conviction than ever before. Delivering to the energy transition is not a matter of If but one of How.”

At SGT25 utility senior managers will come together with their technical teams for three days of strategic and technical discussions, in order to get onto the same page, and move in the same direction at greater pace than ever before. The programme consists of:

1-Day Infrastructure Investment Briefing – a series of utility panel discussions addressing technology investment priorities and the implications for utility technical teams and the supplier ecosystem2-Day Technical Case-Study Conference – implementation focused programme reviewing the successes, setbacks, and future roadmaps of utility project leaders and product specifiers in six core domains: Digital Substations, Operational Systems, Smart Meter Infrastructure, OT Cybersecurity, Big Data, and Asset ManagementInnovation Excellence Awards Ceremony – attended by all participants, and evening of recognition and reward in support of utility innovationRoundtable Discussions – private senior management roundtable discussions as well as public technical roundtable discussions, facilitating high impact information exchange and networkingExhibition & Live Demo Labs – a display of leading smart grid product and service suppliers with deep expertise and experience in the grid sector

100+ Utility Speakers Scheduled Including:

Giulio Carone, CEO – AretiMihkel Härm, CEO – ElektrileviTorsten Röglin, Managing Director – Stadtwerke FrankfurtThomas Reithofer, Head of Grid, Member of Executive Board – CKWFazila Ahmad, Global Head of Data & AI Acceleration – EDP GroupRene Kuczkowski, Head of the Strategy & International Cooperation Office – ENEA OperatorEsa Äärynen, Head of Strategic Grid Planning – Helen Electricity NetworksRonan McKeown, Future Networks Director – NIE NetworksTadej Šinkovec, Head of Advanced Analytics – Elektro LjubljanaAndreas Reisenauer, VP Digital Infrastructure – Elia GroupTomasz Rodziewicz, Head of Innovation & New Technologies – TAURON DystrybucjaJonas van den Bogaard, Open Source Office Lead – AllianderSander Jansen, Product Owner Virtual Stations – AllianderJoep van Genuchten, Data Architect – AllianderDavide Della Giustina, Chief Business Transformation Officer, Smart Infrastructures – AretiYamshid Farhat, Head of Technology & AI – BKWJan Petráček, Chief Transformation Officer – ČEZ DistribuceAlexander Harsch, Head of Cyber Resilience – E.ONSam Julian, Chief Cloud Engineer – E.ONMatthias Merchlewitz, Consultant, Resilience & Cyber Range E – E.ONVincent Audebert, IoT & Telecom Expert – EDFSherif Hussein, Project Manager – EDFPeter Jensen, Chair of the IEC Technical Committee 13 – EDFDan Wilson, Asset Analytics Manager – Electricity North WestUros Stiplovsek, Programmer – Elektro CeljeTadej Šinkovec, Head of Advanced Analytics – Elektro LjubljanaHenrik Hagberg, Head of Price and Revenue Management – EllevioŁukasz Kasperski, Coordinator for Measurement Systems and Energy Quality – ENEA OperatorPrzemysław Starzyński, Head of the Office of Innovation Initiatives – ENEA OperatorClément Devun, IT/OT Cybersecurity Lead Architect – EnedisMaman Idi Cheffou, Project Manager – EnedisLudovic Pontnau, OT Cybersecurity Expert – EnedisFatoumata Sangare, Industrial Information System Compliance Specialist – EnedisSławomir Noske , Senior Innovation Expert – ENERGA-OPERATORFedder Skovgaard, Business Architect – EnerginetCarsten Strunge, Chief Engineer & Business Architect Grid Control Systems – EnerginetHelder Barbosa, Cybersecurity Project Manager – E-REDESJose Esperanca, Data Management Lead – E-REDESChisimdiri Anyaogu, Engineer, Asset Performance – ESBKamal Radi, Senior Specialist, Power Systems Planning, SCADA and Energy Management Systems – ESBMarkus Virtanen, Lead Data Scientist – FingridPeter Kellens, Expert Assets & Grid Architecture Electricity – FluviusDan Smidsrød, Systems Engineer Process Control – Glitre NettKristin Tukun, Data Scientist – Glitre NettJoris van Rooij, Data Analyst -Göteborg EnergiMika Loukkalahti, Leading Expert – Helen Electricity NetworksInigo Ferrero, Protection & Control Standardization Manager – IberdrolaBirkir Heimisson, Specialist in Digital Development – LandsnetPaul Thomson, Power System Engineering Modelling – National GridStanislav Kalynych, IT/OT Security Analyst – Northland PowerNicolas Bihannic, Expert in Orange Future Networks Community – OrangeWalter Schaffer, Head of Competence Center Electricity – Salzburg NetzDaniel Lafferty, Design Lead, Protection & Control – SP Energy NetworksAdrian Ferguson, Lead OT Project Manager – SSEN TransmissionMohseen Mohemmed, Lead Protection Automation and Control Engineer – SSEN TransmissionDeepa Shaji Kumar, Innovation Development Project Manager – SSEN TransmissionAlex Stuart, Head of Data Management – SSEN TransmissionRannveig Løken, Head of Protection Department – StatnettSvein Olsen, Enterprise Information Architect – StatnettNuran Cihangir Martin, Grid Strategist – StedinMachtelt Eggink, Technical Innovation Manager – StedinLeon Kuiper, Lead Data Scientist – StedinMarcel Neu, Project Manager, Meter Asset Management & Lead NextGen SIO – StedinJan Nienhuis, Security Expert – StedinBas van den Berge, Head of Asset System Policy & Technical Innovation – StedinSjors van der Heijden, Strategist, Grid Automation – StedinGiuseppe Martinelli, Domain Architect Business, Power System Data – Svenska kraftnätAnna Rådman, Senior Vice President Business Intelligence – Svenska KraftnätErik Wejander, Project Leader Digital Substation – Svenska kraftnätMichael Knuchel, Head of Substation Automation Systems Engineering – SwissgridMariusz Jurczyk, Board Advisor for AMI – TAURON DystrybucjaMuhammad Babar, Leadership Team, Asset Data Management – TennetRemko Logemann, Maintenance Strategist – TennetMatija Naglič, Business Developer, System Operations – TennetEmir Ozdurmus, Asset Specialist, High Voltage Control & SCADA Systems – TennetJan Vorrink, Senior Advisor International Affairs, Future Design, System Operation – TennetBogdan Leu, Project Manager – TranselectricaMohammed Radi, Network Data Modelling Engineer (CIM) – UK Power NetworksVincent Gliniewicz, Senior Data Strategist – VattenfallÍvar Hrafn Ágústsson, Control System Specialist – VeiturJoyce van de Garde, Director Telecommunications – Westenergie

For more information please contact:

Mandana White, CEO – Smart Grid Forums

Smart Grid Forums Ltd

PO Box 80711, London, N19 9HJ, United Kingdom

T: +44 (0)20 8057 1700 | registration@smartgrid-forums.com

Smart Grid Forums is an independent conference production company serving the smart grid technical community. We monitor the market, conduct in-depth interviews with technical decision makers and translate this information into techno-commercial conferences that empower participants to accelerate their implementation plans and deliver exceptional results to their organisations. Our events are peer-to-peer exchanges. They are immersive, exhaustive and action oriented. We place the utility voice centre-stage and uncover the implementation insights that will enable you to benchmark your own digitisation strategy, fine-tune your own implementation plan, and deliver exceptional results to your own organisation.

Media Contact

Mandana White, Smart Grid Forums, 44 020 8057 1700, registration@smartgrid-forums.com, www.smartgrid-forums.com

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SOURCE Smart Grid Forums

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