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Cyngn Signs Contract to Deploy DriveMod Tugger at a Major Consumer Packaged Goods Company

1. Cyngn deploys DriveMod Tugger in a CPG distribution company. 2. This enhances logistics efficiency in manufacturing and distribution. 3. The market shows growth potential as only a third use automation extensively. 4. DriveMod Tuggers feature advanced AI, enhancing operational safety and monitoring. 5. Cyngn's solutions address labor shortages and rising demands in eCommerce.

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FAQ

Why Bullish?

New contracts and product deployments typically boost investor confidence and stock prices, similar to previous partnerships.

How important is it?

The contract signals substantial growth opportunities in the automation sector for CYN.

Why Short Term?

Immediate deployment signifies short-term revenue potential, as businesses often seek swift return on investment.

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CYNRPAADSK
, /PRNewswire/ -- Today, Cyngn (Nasdaq: CYN) announced that it will be deploying its DriveMod Tugger at a major Consumer Packaged Goods (CPG) distribution company. This deployment reaffirms Cyngn's expanding presence across manufacturing and distribution, highlighting the versatility of its Enterprise Autonomy Suite ("EAS"). This news comes just after Cyngn's recent contract with a separate company in the automotive manufacturing space. Cyngn Signs Contract to Deploy DriveMod Tugger at a Major Consumer Packaged Goods Company. The CPG distribution company—whose name is withheld for confidentiality—intends to integrate DriveMod Tuggers to enhance intra-facility logistics. "This deployment marks another step in Cyngn's mission to bring seamless automation to diverse industries," said Lior Tal, CEO of Cyngn. "Only about a third of all CPG companies have robots on more than 50% of their lines, which is to say there is a lot of opportunity for growth in this industry. We're excited to see our technology play a critical role in transforming the way goods move through facilities." The DriveMod Tuggers are powered by advanced AI and a robust suite of safety features, including 360° vision and collision avoidance systems, allowing them to navigate dynamic environments with precision. Integrated with Cyngn Insight, Cyngn's fleet management and analytics platform, the DriveMod Tuggers enable real-time fleet monitoring and control, giving customers the ability to coordinate and optimize tasks efficiently.As the CPG industry embraces automation, Cyngn remains committed to delivering scalable autonomous solutions that meet the unique needs of modern distribution and logistics environments. For more information on Cyngn's DriveMod Tuggers and other autonomous vehicle solutions, visit https://www.cyngn.com/vehicles/autonomous-tugger.About CyngnCyngn 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).Find Cyngn on: Website: https://cyngn.com Twitter: http://twitter.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Investor Contact:Don Alvarez[email protected] Media Contact:Luke Renner[email protected] Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the 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.SOURCE Cyngn WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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