Intermap Technologies Provides Business Update
Announces UAV/Drone subscription with Zipline in Africa
Hires Chief Scientist to execute on previously announced government contracts
Reports five insurance software subscriptions in the United States
Signs distribution agreement for NEXTMap One in Latin America
DENVER, July 9, 2020 /PRNewswire/ - Intermap Technologies Corporation ("Intermap" or the "Company") today announced a significant new contract and an important new hire. The Company also announced a strategic partnership for Latin America. In addition, it sold five multi-year subscriptions in one week for InsitePro®, its insurance flood underwriting software.
Partnership with Zipline in unmanned aviation (UAV/Drones)
Intermap announced a contract with Zipline (www.flyzipline.com) to deliver crucial geospatial Elevation-as-a-Service to support their expanding medical operations in Africa, including on-demand emergency response to COVID-19 outbreaks. The subscription contract has been urgently upsized following its successful proof of concept. This deal marks Intermap's return to the African market, and its expansion in the global unmanned aviation (UAV/Drone) sector. It further illustrates how on-demand, real-time geospatial elevation data and analytics, delivered as a service, is mission-critical for the workflows that maximize flight safety and efficiency for unmanned logistics – in the air, on land, and at sea.
"Intermap is an established world leader in all-source elevation data and analytics, including its collection, processing, exploitation, and delivery," commented Patrick A. Blott, Intermap's Chairman and CEO. "Our relationship with Zipline provides an excellent example of how Intermap's patented, on-demand, and near real-time processing, when combined with our cloud-based provisioning and customizable analytics, Elevation-as-a-Service, can support rapid operational expansion (strategic and tactical) for growing UAV companies – and it's all immediately available on a global scale."
Chief Scientist to focus on the U.S. government contracts
Intermap is pleased to welcome Dr. Carolyn Johnston, Ph.D., a statistician and mathematician specializing in geospatial technologies and remote sensing, as its Chief Scientist, based in Denver, Colorado. She is the author of 12 peer-reviewed papers on mathematics and engineering related to geospatial and 3D elevation data and has worked extensively on sensitive programs for the National Geospatial-Intelligence Agency (NGA), NASA, other government agencies, and the Department of Defense. Dr. Johnston holds eight awarded and 10 pending patents regarding image processing, algorithm development, feature extraction from synthetic aperture radar and LiDAR, text and image processing from satellite imagery, and autonomous navigation for automotive OEMs, including for Daimler and Audi. Dr. Johnston has spent the last 25 years working as a scientist, manager, and director in research and development at geospatial high technology companies, including Vexcel Corporation, Microsoft, DigitalGlobe, and HERE Technologies.
"With the addition of Dr. Johnston, a proven and recognized leader in geospatial technologies and remote sensing, Intermap takes another important step forward resourcing the team pointed at our most critical government clients," commented Patrick Blott. "Intermap is committed to helping the U.S. government and its allied partners around the world leverage cutting-edge commercial geospatial technology to advance their missions, achieve interoperability, and deliver actionable 3D geospatial data and analytics to the edge, where requirements are most urgent."
Dr. Johnston holds Bachelor's and Master's degrees in Mathematics from Binghamton University, a Ph.D. in Mathematics from Louisiana State University, and is completing a Master's degree in Statistics from Colorado State University. She has been involved in mapping subsidence, elevation, and other map features from synthetic aperture radar data; in the development of original text and image processing algorithms for Bing Local Search; in the development of image adjustment and feature extraction algorithms from satellite imagery; and in automated highly accurate HD mapping for autonomous vehicle localization and path planning applications.
More information about Intermap's government work can be found here.
A copy of Intermap's investor presentation can be found here.
Insurance subscriptions
Intermap also announced a series of subscriptions to its North American insurance solution, InsitePro, including the Channel Syndicate, ReThought Insurance and FTP Inc. The dependability and growth of the company's subscription revenue, especially within insurance, during the current uncertainty, are a testament to the value InsitePro delivers to its clients.
Partnership in Latin America
Intermap is also pleased to announce a new partnership and distribution agreement with Geo Oil Energy S.A.S, a Colombian corporation specializing in geomatics, geophysics, and engineering solutions and services. Geo Oil Energy S.A.S will market Intermap's NEXTMap® portfolio of products, including Elevation-as-a-Service to clients in Oil and Gas, Engineering, and Government markets in Colombia, Mexico, Ecuador, Bolivia, and Peru.
"These announcements today, collectively, highlight Intermap's ability to provision curated, customized, all-source 3D elevation data and analytics when, where, and how they are needed to solve previously intractable problems across industries, and ensure that our solutions are current, accurate, relevant and accessible to all kinds of users, regardless of their geospatial expertise or requirement," commented Patrick Blott. "Intermap's ability to achieve simplicity for its customers rests on decades of past performance, millions worth of technology investment, unmatched human capital, and a proprietary global library of raw phase-array data, the largest of its kind in the world, which is uniquely capable of unleashing the geospatial problem-solving power of recent advances in artificial intelligence and computing."
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) (ITMSF: BB) is a global leader in geospatial intelligence solutions. The Company's proprietary NEXTMap® database and value-added geospatial data management, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data, including aviation, engineering, environmental planning, government markets, hydrology, insurance, land management, law enforcement and patrol, oil and gas, renewable energy, telecommunications, transportation and utilities. Intermap's commercial applications include location-based intelligence, risk assessment, geographic information systems, global positioning systems and 3D visualization. For more information, please visit www.intermap.com.
SOURCE Intermap Technologies Corporation
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