Agreement includes multi-year commitment to purchase Ouster lidar sensors as Outrider scales production of its autonomous yard truck systems and smart infrastructure
Ouster, Inc. ("Ouster"), a leading provider of high-resolution digital lidar sensors for the industrial automation, smart infrastructure, robotics, and automotive industries, today announced that it has signed a multi-year strategic customer agreement with Outrider, the leader in autonomous yard operations for logistics hubs.
Ouster’s lidar sensors will be incorporated into Outrider’s autonomous yard trucks as part of an integrated system which is designed to improve the efficiency, safety, and sustainability of large-scale distribution centers and logistics hubs. Outrider is working with an ecosystem of partners like Ouster to accelerate the deployment of fully automated yards. Outrider is actively taking reservations for its autonomous systems that will use Ouster sensors.
"Outrider is building autonomous yard operations for the here and now. I couldn’t be more thrilled to partner with the leader in yard automation as they look to deploy thousands of vehicles in the next few years powered by our digital lidar sensors," said Angus Pacala, Co-Founder and CEO of Ouster. "We believe industrial automation is a $9 billion opportunity for lidar in the next 10 years, and one of the four key verticals in Ouster’s diversified approach to the lidar market."
With the dramatic increase in freight volume in recent years, the need for 24-hour operations of repetitive, manual work has led to even greater inefficiency and safety concerns. Outrider focuses not only on automating the vehicle but other manual tasks in the yard. Outrider currently works with multiple Fortune 500 enterprises representing more than 10,000 manual, diesel yard trucks that Outrider aims to replace with autonomous, zero-emission vehicles that would feature Ouster sensors.
"Lidar is a fundamental component of our integrated system, which enables our autonomous vehicles to see and interpret their surroundings. Having a close relationship with our ecosystem of partners is critical to maximizing the performance of the Outrider System and the throughput of our customer’s supply chains," said Andrew Smith, Founder and CEO of Outrider. "We believe the performance and cost advantages of Ouster’s digital lidar sensors will further accelerate the industry’s rapid adoption of our technology."
Ouster invented its digital lidar in 2015 and is a leading manufacturer of high-resolution digital lidar sensors used throughout the industrial automation, smart infrastructure, robotics, and automotive industries. Ouster’s sensors are reliable, compact, affordable and highly customizable, laying the foundation for digital lidar ubiquity across endless applications and industries. Already hundreds of customers have incorporated Ouster lidar sensors in current products or those in development for imminent commercial release. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.
Outrider, the leader in autonomous yard operations for logistics hubs, helps large enterprises improve safety and increase efficiency. The only company exclusively focused on automating all aspects of yard operations, Outrider eliminates manual tasks that are hazardous and repetitive. Outrider’s mission is to drive the rapid adoption of sustainable freight transportation by deploying zero-emission systems. Outrider is a private company backed by NEA, 8VC, Koch Disruptive Technologies, and other top-tier investors. For more information, visit www.outrider.ai
This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products and services offered by Ouster and the markets in which it operates. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to the risk of downturns in the highly competitive lidar technology and related industries. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ouster assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ouster gives no assurance that it will achieve its expectations.
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