Cyngn Inc., a pioneer in AI-powered autonomous driving solutions for industrial applications, has revealed a paid pre-order Agreement in collaboration with Arauco, a prominent global provider of sustainable forestry products, pulp, and engineered wood catering to the furniture and construction industries. The pre-order involves the initial acquisition of 100 autonomous electric DriveMod-enabled forklifts, intended to bolster Arauco's operational efficiency and streamline their material handling processes in the near future. This milestone marks a significant step in Cyngn's DriveMod Forklift initiative, initially announced in June, showcasing the joint commitment of both companies to fuel AI-driven innovations. Deliveries to Arauco are set to commence in 2024.

As a reputable wood products supplier with a revenue exceeding $7 billion in 2022, Arauco is recognized for its commitment to sustainability and carbon neutrality. By electrifying their forklift fleet and incorporating autonomous capabilities, Arauco aims to support its environmental objectives while optimizing operational productivity, efficiency, and safety.

Lior Tal, CEO of Cyngn, emphasized the transformative potential of autonomous technology in the industrial sector, highlighting the significance of collaborating with a global powerhouse like Arauco. Tal expressed pride in being chosen as Arauco's preferred forklift automation provider, assisting them in their pursuit of sustainability, safety, and operational excellence. The synergy of computer vision and AI algorithms ensures that Cyngn's DriveMod autonomous forklifts deliver the performance and utility essential for Arauco's operations.

While the initial pre-order of 100 autonomous electric forklifts accounts for a fraction of Arauco's existing fleet, it signifies a meaningful deployment of annual recurring revenue for Cyngn. This deployment showcases the growth potential of the partnership and its capacity to address the challenge of automating heavy loads with non-standard pallet pockets. Arauco stands to benefit from the impressive performance capabilities of more than 10,000 pounds of autonomous lift capacity, a metric that sets an industry-leading standard and enables a single forklift solution to accommodate all of Arauco's use cases.

Cyngn's drive towards autonomous electric forklifts aligns with Arauco's goals in addressing labor shortages, enhancing safety measures, and improving efficiency faced by contemporary manufacturers.

This Pre-order Agreement for 100 autonomous forklifts builds upon a previous collaboration with the global building materials manufacturer. Together, Cyngn and Arauco anticipate the establishment, expansion, and implementation of DriveMod across various sites and use cases. The collaboration also envisions the potential for augmenting Arauco's autonomous fleet in the years ahead.

Source:prnewswire.com

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