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Cyngn Successfully Completes Initial Deployment of DriveMod Tugger with Major Defense Contractor

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MENLO PARK, Calif., Nov. 1, 2024 /PRNewswire/ — Today, Cyngn Inc. (Nasdaq: CYN) announced that it successfully deployed its DriveMod Tugger at a defense contractor’s facility.

While details are not being disclosed for security reasons, the engagement highlights the applicability of Cyngn’s autonomous vehicle technology to address the rigorous operational needs of defense industry manufacturing applications, which can be particularly stringent work environments with high associated costs.

The aerospace and defense industry continues to be a significant economic force in the United States. In 2023, the industry generated an impressive $955 billion in total business output, showcasing its substantial impact on the economy. The sector employs over 2.2 million people, representing about 1.4% of the nation’s total employment base.

About Cyngn
Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn’s DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Where to find Cyngn:

Website: cyngn.comTwitter: twitter.com/cyngnLinkedIn: https://www.linkedin.com/company/cyngnYouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don Alvarez, CFO
investors@cyngn.com

Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com

Forward-looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the Securities Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company’s annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

 

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Cv International’s WindSuite: A Comprehensive Solution for Wind Turbine Maintenance and Safety

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November 1, 2024

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BEND, Ore., Nov. 1, 2024 /PRNewswire/ — Cv International’s WindSuite™, a cutting-edge service solution tailored to meet the safety and operational needs of technicians maintaining wind turbines across the renewable energy sector. The WindSuite provides an integrated approach to nitrogen servicing, combining a nitrogen generator, enhanced nitrogen booster, explosion-proof nitrogen fill station, and the innovative, CE Certified, WindKit, designed for ease of use in challenging environments.

Cvi’s WindSuite has been adopted by major industry players, including Siemens Energy, Vestas American Wind Technology, and Clearway Energy Wind Power Plants. “Servicing wind turbines is no easy task due to their extreme heights and the demand for high-pressure nitrogen,” says Sam Zumbrunnen of Cv International. “Our WindKit provides a portable and efficient nitrogen solution, enabling technicians to safely service turbines at elevation while ensuring equipment integrity and enhancing personal safety.”

Key Highlights:

Cvi WindSuite: The Complete Service Solution
WindSuite provides a suite of complementary nitrogen products designed to meet the varied needs of wind turbine servicing. This comprehensive package includes a nitrogen generator, booster, explosion-proof fill station, and the WindKit for portable, on-site nitrogen application.

Expanding Distribution Network
Cvi is partnering with a growing network of national distributors, marking a significant milestone in the company’s expansion. These distributors are positioned to deliver WindSuite solutions to a broader audience across the U.S.

Growing Customer Base
WindSuite has been successfully installed in several states, including Texas, Indiana, Arizona, Colorado, and Washington, contributing to enhanced operational efficiency and safety for a wide range of wind farm operators.

Cost and Safety Benefits
By reducing maintenance costs and improving safety protocols, the WindSuite offers wind farm operators a superior return on investment, contributing to the accessibility and affordability of wind energy.

Dan Warden, CEO of Cv International, expressed excitement about the company’s continued impact on the renewable energy sector. “Our WindSuite is designed to accelerate the transition to sustainable energy by streamlining wind turbine maintenance. We’re proud to announce that our Bend, Oregon facility is powered by 100% renewable wind energy, reinforcing our commitment to sustainability for our customers, employees, and communities.”

For further details or media inquiries, please contact:

George Darcy
Chief Marketing Officer
gdarcy@cvintl.com
541-480-1716

About Cv International:
For over 40 years, Cv International has provided innovative solutions to industries including Wind Energy, Aviation, Hydro Electric, and Oil & Gas. Headquartered in Bend, Oregon, Cv International is a Veteran-Owned Small Business (VOSB) delivering high-performance nitrogen systems, contaminated fuel detectors, cryogenic samplers, and maintenance solutions. Visit us at cvintl.com.

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SOURCE Cv International

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WorkFusion Named a Category Leader in the Chartis RiskTech Quadrant® for KYC Solutions

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November 1, 2024

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Recognition as a leader in KYC, plus being named an AI category winner in the RiskTechAI50®, highlight the company’s market leadership in financial crime compliance technology

NEW YORK, Nov. 1, 2024 /PRNewswire/ — WorkFusion, a pioneer in AI agents for financial crime compliance (FCC), today announced that it has been named a Category Leader in the Chartis RiskTech Quadrant® for KYC Data and Solutions, 2024. It was also recognized recently as the winner for the Workflow and Automation category in Chartis’ RiskTechAI50® 2024.

Chartis is a research and advisory firm that supports financial services firms in the areas of risk, compliance and RegTech.

“WorkFusion’s bespoke AI assistance is a unique capability in the KYC marketplace and can be utilized in such areas as alert adjudication, automation and onboarding,” said Chartis Research Principal Philip Mackenzie. “Together with this cutting-edge leveraging of AI, the company’s strategy and consistent growth were key factors in WorkFusion’s designation as a category leader in the KYC Solutions quadrant.”

WorkFusion CEO Adam Famularo said, “We welcome the recognition by Chartis of our advanced KYC technology and expertise. Banks and financial institutions are contending with an increasingly complex and burgeoning landscape of bad actors attempting to exploit the global financial system. Every day, our AI Agents are helping financial crime compliance teams mitigate risk and transform KYC processes by reducing manual work and delivering a faster, easier onboarding experience for customers.” 

WorkFusion’s AI-driven solutions prowess has previously been highlighted by other expert assessments, including being recognized as a Leader in Everest Group’s Banking-specific IDP Products PEAK Matrix® Assessment 2024. “WorkFusion’s ‘Digital Workers’ offering has stimulated the IDP market by giving users pre-trained ML models for specific use cases, especially within the banking compliance arena.”

Chartis assessed the WorkFusion platform, called Work.ai, as well as the WorkFusion AI Agents for financial crime compliance (FCC), by reviewing and analyzing in-depth product information, live demonstrations of WorkFusion AI Agents for FCC in action and interviews with WorkFusion product experts.

About WorkFusion

WorkFusion is a pioneer in AI agents for financial crime compliance (FCC). Its AI Agents are purpose-built workers that augment compliance teams in level 1 analyst functions and alleviate the tedious tasks associated with anti-money laundering (AML), adverse media monitoring, sanctions screening alert review, customer onboarding, Know Your Customer (KYC), transaction monitoring (TM) and customer service. WorkFusion’s AI solutions are technology controls that mitigate risk, solve talent challenges, increase workforce capacity, save money, enhance employee and customer experience, and improve compliance posture. To “put AI to work” for your organization, visit workfusion.com.

Media contact:

Jessica Cassady

jcassady@workfusion.com

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SOURCE WorkFusion

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Further exits stealth with $4.1M to empower first-time homebuyers

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November 1, 2024

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Founded by a former fintech unicorn CEO & a proptech executive, Further aims to simplify the process for buyers with better financial planning tools

WASHINGTON, Nov. 1, 2024 /PRNewswire-PRWeb/ — New startup Further launches today and emerges from stealth with a $4.1 million pre-seed round. Founded in spring 2024, Further is on a mission to empower first-time homebuyers through the financial complexities of purchasing their first home. Investors include Link Ventures, Vesta Ventures, F4, FiDi Ventures, Flex Capital, Gaingels, Andrew Paradise, Jeff Fagnan, Ryan Moore and other angel investors.

The equation for homebuying has become much more complicated.

The company arrives at a critical time in the home affordability crisis. Today’s first-time homebuyers, particularly Millennials, face unprecedented challenges. As increasingly unattainable housing prices have pushed back the average age of homebuyer to their mid-30s, the equation for homebuying has also become much more complicated. While buyers are often left to manage this highly complicated process on their own using home-made spreadsheets, Further aims to replace the guesswork with easy-to-understand yet powerful, personalized tools that simplify their financial planning.

“Buying a home is one of the most significant milestones in a person’s life, but for many, the process is daunting and far too often, feels out of reach,” said Further cofounder & CEO, Kevin Bennett. “At Further, we’re here to empower buyers, giving them the tools, confidence and knowledge they actually need to achieve their homeownership dream.”

Further was founded by CEO Kevin Bennett and COO Chris Baker, leaders with extensive experience in fintech, real estate, and tech innovation. Bennett, the founding CEO of fintech unicorn Caribou, has a proven track record of leading high-growth companies. Baker, who has held leadership positions at high-growth startups, like EverQuote, and large consumer banks, like Bank of America and Santander, brings deep expertise in real estate and financial services. Further CTO, Nassir Samatar, brings a wealth of experience in building scalable tech platforms at Amazon, Coupang & Rover.

For more information, visit www.withfurther.com.

Media Contact

Hannah Golden, Further, 1 7033406867, press@withfurther.com, www.withfurther.com

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SOURCE Further

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