Cepton ($CPTN) Brings Lidar Technology to Tolling Industry with Multi-Million Dollar Contract
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February 6, 2023 – TheNewswire - Cepton (NASDAQ: CPTN), a leader in lidar technology, has won a multi-million-dollar contract with a US highway tolling system operator.
Cepton's Sora series lidar sensors will be used in tollways in the Tri-State area and Northern California, marking the largest commercial lidar deployment in the tolling industry to date.
Lidar technology brings improved accuracy and efficiency to the tolling sector and helps reduce traffic congestion and toll leakage by enabling free-flow electronic toll collection. The deployment of Cepton's lidars will modernize the tolling infrastructure and benefit millions of drivers.
Dr. Jun Pei, Co-founder and CEO of Cepton stated: “Lidar has tremendous potential to transform the tolling industry, and I am very proud that Cepton has become a pioneer in commercializing lidar with real-world, large-scale deployments.”
Cepton is a Silicon Valley innovator of lidar-based solutions for automotive, smart cities, smart spaces, and smart industrial applications. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high performance, high quality lidar solutions.
Shares of Cepton trade on the NASDAQ under the ticker symbol CPTN. For more information visit www.greenstocknews.com
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