TEL AVIV, Israel, July 17, 2024 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a leading developer and manufacturer of Advanced Driver Assistance Systems (ADAS), today announced the implementation of its cutting-edge ‘Smart-Vision’ Camera Monitoring System (CMS) on a portion of the city of Paris’s buses, beginning with the 2024 Olympics. According to Paris 2024 Olympic and Paralympic Games Organizing Committee and Île-de-France Mobilités, the key goal this year is to enable every spectator to get to the Olympic and Paralympic venues using public transport. With an expected 11.3 million visitors according to Je t'aime, Paris’ official tourism board, including athletes, tourists, and spectators from around the world, Gauzy's innovative technology aims to play a crucial role in reducing the risk of on road accidents to enhance public safety with its products that mitigate blind spots and optimize drivers' visibility in city buses.

Gauzy's innovative Smart-Vision CMS technology replaces traditional side mirrors with high-definition cameras and interior displays, providing bus drivers with a comprehensive view of their surroundings. The product is currently implemented in city buses by some of the world’s leading OEMs, such as Man, Irizar, Scania, Hess, and Van Hool. This advanced system significantly improves situational awareness, enabling drivers to detect pedestrians, cyclists, vulnerable road users (VRUs) and other vehicles with greater ease to reduce accidents. According to a study conducted by Geneva Public Transport, Gauzy’s Smart-Vision is proven to reduce costs associated with accidents by up to 40%. "As Paris welcomes the world for the 2024 Olympics, the safety and efficiency of public transportation become even more paramount," said Eyal Peso, CEO and Co-Founder of Gauzy. "Our Smart-Vision CMS technology is designed to address the unique challenges of urban driving, particularly in a bustling city like Paris with an influx of occupants. We are proud to contribute to the safety of the city's residents and visitors during this significant event."

Gauzy is committed to enabling cities to take a proactive approach to enhance public transportation, safety and efficiency, while also considering concerns caused by an increase in micro-mobility. Paris joins multiple cities worldwide, including London, Brisbane, and Lyon that have already selected Gauzy's Smart-Vision CMS to make a positive impact on road safety.

With millions of visitors expected to attend the Olympics and encouraged to use public transport to navigate between 50 sessions per day and 25 venues, the enhanced safety measures provided by Gauzy's technology will be instrumental in managing the increased demand on public transportation. The deployment of Gauzy's technology in Parisian buses aligns with the city's commitment to smart mobility solutions and sustainable urban transportation, and comes at a critical time ahead of the Olympics.

In addition to improving safety, Gauzy's smart-vision CMS offers several other benefits, including:

• Enhanced Driver Comfort: The system reduces driver fatigue by providing clear and consistent visuals, regardless of weather conditions or time of day, improving confidence to make real-time, lifesaving decisions.
• Energy Efficiency: The aerodynamic design of the CMS reduces drag, contributing to overall fuel efficiency and reduced emissions.
• Advanced Features: The system includes features such as automatic brightness adjustment and maneuver assistance systems to further assist drivers.
  

Gauzy is proud to play an integral role in public safety, especially at one of the biggest events in the world. Gauzy looks forward to continuing its partnership with leading bus OEMs and networks, ensuring cities offer safer and smarter transportation for all.

For more information about Gauzy and its ADAS products, including Smart-Vision CMS, please visit www.gauzy.com or contact press@gauzy.com.

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 Dubai. Gauzy serves leading brands in over 30 countries through direct fulfillment and a certified and trained distribution channel.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy’s current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company’s prospectus (Registration No. 333-278675), dated June 5, 2024 and filed with the SEC. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.

Contacts

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

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d31d03a0-1f1b-46f7-ae3f-1e7c8bc71178