Gauzy’s ADAS replaces traditional side mirrors

Press Relase. October 10, 2024

NEW YORK and TEL AVIV, Israel, Oct. 10, 2024 (GLOBE NEWSWIRE) — Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader in light and vision control technology, is pleased to announce that its advanced driver assistance system (ADAS) has fully replaced traditional side mirrors on the Capital District Transportation Authority (CDTA) of New York’s public buses. Gauzy’s Smart-Vision^® camera monitor system (CMS) was unveiled on CDTA’s buses at a special ceremony on October 3, 2024, signifying the next phase of CDTA’s multi-year phase-in program designed to improve road safety. This milestone demonstrates CDTA’s confidence in the technology’s ability to optimize visibility by reducing blind spots.

The Smart Vision^® CMS was installed on the CDTA buses by Luminator Technology Group, who serves as Gauzy’s exclusive distribution partner for transit agencies in North America and markets the system as Luminator Video Mirror in the region. Gauzy has been quickly capturing market share across North America, Europe, Asia and Australia as transportation officials have demonstrated heightened interest in ADAS and expediting the necessary regulatory approvals required to install it in public buses and coaches. As a result, Gauzy estimates that its cumulative sales for its commercial vehicle CMS/ADAS will surpass $100 million by the end of 2025.

Eyal Peso, Co-Founder and CEO of Gauzy, stated, “CDTA’s choice to replace side mirrors in its buses with our Smart-Vision CMS^® reflects the technology’s effectiveness, practicality and superior qualities over other mirrorless driver assistance systems. With the global mass transit bus market expected to grow at a CAGR of 8.1% between 2023 and 2032 to more than $936 billion in value, we anticipate orders for the Smart-Vision^® system will continue growing at a steady pace. We believe that this presents a significant opportunity for us to solidify our sales pipeline and market share in commercial vehicle CMS/ADAS across four geographic regions.”

A renewed global emphasis on improving road safety has fueled a surge in demand for innovative systems like Smart-Vision^®, and CDTA is just one of several major transit systems in the U.S. that are utilizing the system to help advance their own road safety objectives. Gauzy expects to announce new or expanded agreements with additional public transportation agencies for its ADAS technology in the near-future.

The Smart-Vision^® CMS is compatible on both 40- and 60-feet long bus models. The system eliminates the need for mirrors altogether, replacing them with a compact aerodynamic camera design and ergonomic friendly interior displays that are proven to reduce fuel consumption, provide drivers with greatly improved awareness of their surroundings and minimize risk of collision with obstacles. It also is able to instantly and automatically adjust its interior displays depending on varying light conditions such as the brightness in a tunnel, darkness at night or in rainy weather conditions. Moreover, its cameras are not affected by the glare of the sun or other light sources that can impair a driver’s vision, thereby generating better driving comfort while also reducing driver fatigue. The system, which is available for new vehicles or retrofit, is fully homologated as per UNECE standards and is proven to reduce costs associated with accidents by up to 60%.

About Gauzy
Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates. Gauzy serves leading brands across aeronautics, automotive, and architecture in over 30 countries through direct fulfillment and a certified and trained distribution channel.

IR and Media Contact Info

Media:
Brittany Kleiman Swisa
Gauzy Ltd.
press@gauzy.com

Investors:
Dan Scott, ICR Inc.
ir@gauzy.com