Velodyne Lidar’s Velabit™ Wins Prestigious Best of What's New Award From Popular Science

(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR) today announced its Velabit™ lidar sensor was named a winner in the Best of What’s New awards by Popular Science. The Velabit, Velodyne’s smallest sensor, brings new levels of versatility and affordability to 3D lidar perception. It is a cornerstone solution in Velodyne’s mission to transform lives by advancing safe mobility and smart communities through access to their innovative lidar technologies.

“Popular Science has an esteemed legacy of reporting on groundbreaking innovations and discoveries,” said Anand Gopalan, CEO, Velodyne Lidar. “Velodyne is honored to have the Velabit recognized as a leading innovative product by the magazine’s editors. With its combination of performance, size and price position, the Velabit is a breakthrough sensor that can be a catalyst for a new era of autonomous solutions on a global scale.”

The Velabit is engineered to be an optimal automotive grade lidar solution for Advanced Driver Assistance Systems (ADAS) and autonomous vehicles. It can enable robust perception coverage for Blind-Spot Monitoring, Cross Traffic Detection, and Pedestrian Automatic Emergency Braking. This mid-range sensor can be combined with other Velodyne lidar technologies, such as the Velarray H800™, for high-speed operation or function as a standalone lidar solution in low-speed applications. The Velabit can also be integrated with Velodyne’s Vella™ software suite to help advance the full spectrum of vehicle safety features.

The Velabit addresses the cost, safety and design challenges of autonomous solutions while delivering strong sensor performance. This solid-state lidar sensor is highly configurable for specialized use cases and can be embedded almost anywhere within vehicles, robots, unmanned aerial vehicles (UAV) and infrastructure. Leveraging Velodyne’s innovative design technology and manufacturing partners, the Velabit is designed to be easy to manufacture at mass production levels.

“The Best of What’s New Awards showcase the year’s greatest feats of human ingenuity,” said Popular Science Editor-in-Chief Corinne Iozzio. “Even in a year like 2020, innovation has helped us glimpse a future that’s safer, smarter, and more enjoyable than we might have thought possible. This collection, which includes everything from a new generation of Mars explorers to ultra-hygienic print-to-order eyeshadows, is full of items we’re proud to call the Best of What’s New.”

Since 1988, the editors of Popular Science have reviewed thousands of products in search of the top 100 tech innovations of each year – breakthrough products and technologies that represent a significant advancement in their categories. Best of What's New Awards are presented to 100 new products and technologies in 10 categories: Aerospace, Automotive, Engineering, Entertainment, Gadgets, Health, Home, Personal Care, Recreation and Security.

About Velodyne Lidar

Velodyne Lidar (NASDAQ: VLDR) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne is the first public pure-play lidar company and is known worldwide for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems (ADAS), robotics, unmanned aerial vehicles (UAV), smart cities and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all. For more information, visit www.velodynelidar.com.

Forward Looking Statements

This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, competition. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, ‘assumptions and other important factors, many of which are outside Velodyne's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; uncertainties related to the ability of Velodyne's customers to commercialize their products and the ultimate market acceptance of these products; the uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; uncertainties related to Velodyne's estimates of the size of the markets for its products; the rate and degree of market acceptance of Velodyne's products; the success of other competing lidar and sensor-related products and services that exist or may become available; Velodyne's ability to identify and integrate acquisitions; uncertainties related to Velodyne's current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne's intellectual property; and general economic and market conditions impacting demand for Velodyne's products and services. Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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