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July 14, 2022
Quanergy and PARIFEX Collaborate for First Compliant LiDAR-Based Speed Enforcement System

SUNNYVALE, Calif.- Quanergy Systems, Inc., (NYSE:QNGY) a leading provider of LiDAR sensors and smart 3D solutions, announced today that PARIFEX’s solution has been certified by a French testing body as the first compliant speed enforcement system based on 3D-LiDAR technology.

Quanergy’s M-Series 3D LiDAR sensors are integrated into PARIFEX’s Double-Side VIGIE solution, which is used for highway speed monitoring and enforcement. The fully automated Double-Side VIGIE monitors multiple lanes of traffic to detect, classify and identify speeding vehicles. The solution simultaneously measures the speed of all vehicles and can identify which ones are speeding with an optimal detection rate.

With certification from Laboratoire national de métrologie et d’essais (LNE), which works under the trusteeship of the French Ministry of the Economy and Finance, this technology becomes the first LiDAR-based speed enforcement solution approved for use by French law enforcement. This certification paves the way for the use of speed enforcement systems based solely on 3D LiDAR as opposed to the current Doppler system. This also offers far more advanced functionalities for road safety.

Enzo Signore, chief marketing officer, Quanergy Systems, Inc., said: “Since 2017, we’ve worked with PARIFEX to use 3D LiDAR technology to improve road and highway safety. Recognition of our joint solution by the French testing body as the first LiDAR-only speed enforcement solution is a testament to the power of 3D LiDAR. We look forward to continuing our work with PARIFEX in France and beyond.”

Franck Peyré, CEO, PARIFEX, said: “We’re proud to be the first company to offer an innovative speed enforcement system that includes 3D LiDAR sensors. We chose Quanergy’s LiDAR for our Double-Side VIGIE solution to strengthen long-range detection at high speeds. Certification by LNE paves the way for us to continue building more and better ways to improve road safety.”

For more information, visit www.quanergy.com.

About Quanergy Systems, Inc.

Quanergy’s (NYSE: QNGY) mission is to create powerful, affordable smart LiDAR solutions for automotive and IoT applications to enhance people’s experiences and safety. Quanergy has developed the only true 100% solid-state CMOS LiDAR sensor built on optical phased array (OPA) technology to enable the mass production of low-cost, highly reliable 3D LiDAR solutions. Through Quanergy’s smart LiDAR solutions, businesses can now leverage real-time, advanced 3D insights to transform their operations in a variety of industries including industrial automation, physical security, smart cities, smart spaces and much more. Quanergy solutions are deployed by nearly 400 customers across the globe. For more information, please visit us at www.quanergy.com.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project,” “will likely result” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements, including statements regarding the use of LiDAR in road and highway speed enforcement systems. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside Quanergy’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; the overall level of consumer demand for Quanergy’s products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the ability to maintain the listing of Quanergy’s securities on the New York Stock Exchange; the financial strength of Quanergy’s customers; Quanergy’s ability to implement its business strategy; changes in governmental regulation, Quanergy’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to Quanergy’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of Quanergy’s suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on Quanergy and its suppliers and customers; Quanergy’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, Quanergy’s information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations; Quanergy’s ability to utilize potential net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks; and other risks and uncertainties indicated in Quanergy’s filings with the U.S. Securities and Exchange Commission. In addition, forward-looking statements reflect Quanergy’s expectations, plans or forecasts of future events and views only as of the date of this press release. Quanergy anticipates that subsequent events and developments will cause its assessments to change. However, while Quanergy may elect to update these forward-looking statements at some point in the future, Quanergy specifically disclaims any obligation to do so, except as required by law.

About PARIFEX

PARIFEX is a leading solution provider in project management, helping its clients in all fields of activity in the conception, management, development, and integration of their great engineering projects in industry and road safety. Through its expertise, the company also designs leading solutions for projects such as smart cities, new mobility, and more. PARIFEX was founded in 1994 and has branches in Europe and Asia, and clients throughout the world. Learn more at www.parifex.com.

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