SAN FRANCISCO- Ouster, Inc. (NYSE: OUST), a leading provider of high-resolution digital lidar sensors for the industrial automation, smart infrastructure, robotics, and automotive industries, today announced that it has partnered with Danfoss Power Solutions to accelerate the adoption of Ouster's digital lidar sensors and provide seamless, turnkey implementation for end users. Danfoss Power Solutions is a world-class provider of mobile hydraulic and electrification products and solutions for the construction, agriculture and other on-highway and off-highway vehicle markets, supporting OEM customers and its network of distribution partners.
Ouster sensors will be the first lidar hardware to be offered through the Danfoss PLUS+1® Partner Program, which is engineered to expedite the development process and bring higher quality machines to market faster. This integration is intended for remote machine management, operator assistance, row following, obstacle avoidance, and task automation.
We are excited to bring such a great partner and technology onto our PLUS+1® Platform. This partnership will enable our customers to quickly and easily integrate Ouster lidar into their systems, improving our customers' time to market and increasing their ability to incorporate operator assist and autonomous solutions into their machines, said Peter Bleday, Head of Autonomous Vehicles at Danfoss Power Solutions.
PLUS+1® Partner Program is a select group of companies with complementary products — including microcontrollers, joysticks, hydraulic pumps, and radar sensors — that integrate into PLUS+1® systems the same way all Danfoss hardware components do. Ouster's OS sensors will be a part of the PLUS+1® Autonomy offering, including the new XM100 Autonomous Controller and PLUS+1® Autonomous Control Library (ACL). The Ouster compliance block is expected to be released in the fourth quarter of 2021 with a beta version available today for select customers.
Ouster is excited to partner with Danfoss as we seek to enable greater levels of autonomy across the industrialized economy with our digital lidar. The Danfoss PLUS +1® Platform's control interface makes it easy for OEMs and other customers to adopt our sensors on robotic machinery, whether it be indoor warehouse robots or autonomous tractors in the field. We expect the offering to reduce integration time and the end application's time to market, said Nate Dickerman, President of Field Operations at Ouster.
About Danfoss
Danfoss engineers advanced technologies that enable us to build a better, smarter and more efficient tomorrow. In the world's growing cities, we ensure the supply of fresh food and optimal comfort in our homes and offices, while meeting the need for energy-efficient infrastructure, connected systems and integrated renewable energy. Our solutions are used in areas, such as refrigeration, air conditioning, heating, motor control and mobile machinery. Our innovative engineering dates back to 1933 and today Danfoss holds market-leading positions, employing 27,000 people and serving customers in more than 100 countries. We are privately held by the founding family. Read more about us at www.danfoss.com.
About Ouster
Ouster (NYSE: OUST) 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.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding adoption of its products by OEMs, suitability of the applications for certain automated applications, potential supply demand for Ouster's sensors, financial outlook and market positioning. Forward-looking statements give Ouster's current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as anticipate, estimate, expect, project, plan, intend, believe, may, will, should, can have, likely and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: Ouster's limited operating history and history of losses; the adoption of its products and the growth of the lidar market generally; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to applications in which its products are frequently used; its reliance on a third-party manufacturer; the timing of revenue from existing customers; uncertainties related to Ouster's estimates of the size of the markets for its products and future revenue opportunities; and other important factors discussed in the Company's final prospectus and definitive proxy statement, dated February 12, 2021, filed with the Securities and Exchange Commission (the SEC), as updated by the factors disclosed in the section titled Risk Factors in its Current Report on Form 8-K filed with the SEC on March 15, 2021, and in other reports the Company files with or furnishes to the SEC. Any such forward-looking statements represent management's estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.
