Quanergy Partners with Fabrinet to Expand Global LiDAR Sensor Manufacturing | Company

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SUNNYVALE, Calif.–(BUSINESS WIRE)–Sept. 13, 2022–

Quanergy Systems, Inc., (NYSE: QNGY), a leading provider of LiDAR sensors and intelligent 3D solutions, today announced that the company will partner with Fabrinet, a leading provider of optical manufacturing services and advanced precision electronics, for the production of LiDAR from Quanergy sensors.

This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220913006287/en/

Quanergy Partners with Fabrinet to Expand Global LiDAR Sensor Manufacturing (Graphic: Business Wire)

Fabrinet is a trusted partner of the world’s most demanding Original Equipment Manufacturers (OEMs). Their proven track record of customer service, flexibility and proficiency in managing complex operations aligns with Quanergy’s commitment to maintaining high quality and industry standards in manufacturing. With Fabrinet, Quanergy will be able to expand its global manufacturing and scale as demand grows, to deliver greater efficiencies to its customers.

Quanergy customers can be confident that their sensors are of high quality and built by an experienced and trusted manufacturer with extensive and relevant certifications including ISO9001, IATF16949 and ISO14001.

Kevin Amiri, Quanergy’s senior vice president of operations, said: “LiDAR is revolutionizing the number of businesses operating in the IoT and automotive industry. Fabrinet’s global supply chain expertise, in-house failure analysis and reliability testing, and direct execution result in the efficiency, reliability, speed and cost effectiveness that Quanergy customers need.

For more information, visit www.quanergy.com.

About Quanergy Systems, Inc.

Quanergy’s (NYSE: QNGY) mission is to create powerful and affordable smart LiDAR solutions for automotive and IoT applications to improve people’s experience and safety. Quanergy has developed the only true 100% solid-state CMOS LiDAR sensor based on Optical Phased Array (OPA) technology to enable the mass production of low-cost, highly reliable 3D LiDAR solutions. With Quanergy’s intelligent LiDAR solutions, businesses can now leverage advanced real-time 3D information to transform their operations in a variety of industries including industrial automation, physical security, smart cities, smart spaces and more. Again. Quanergy solutions are deployed by nearly 400 customers worldwide. For more information, visit us at www.quanergy.com.

Forward-looking statements

This press release contains 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 are generally accompanied by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “would”, “plan”, “predict”, “potential”, “seem”, “seek”, “future”, “prospects”, “project”, “probably will result” and similar expressions which predict or indicate future events or trends or which are not not statements of historical questions. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements, including statements regarding Fabrinet’s manufacturing of our LiDAR sensors and our ability to expand global manufacturing and scale. as demand increases. 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 beyond Quanergy’s control and are difficult to predict. Factors that could cause such differences include, but are not limited to: changes in domestic and foreign business, commercial, 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 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 government regulations, Quanergy’s exposure to legal claims and other potential losses; disruptions and other impacts on Quanergy’s business, as a result of the global COVID-19 pandemic and government actions and restrictive measures implemented in response; the stability of Quanergy’s suppliers and challenges across the global supply chain; consumer demand for our products, in light of disease outbreaks and health concerns such as the global COVID-19 pandemic; the impact that global climate change trends may have on Quanergy, its suppliers and customers; Quanergy’s ability to protect patents, trademarks and other intellectual property rights; any breach or disruption of Quanergy’s information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as currency fluctuations; Quanergy’s ability to utilize potential net operating losses carried forward; changes in tax laws and obligations, tariffs, legal, regulatory, political and economic risks; and other risks and uncertainties set forth in Quanergy’s filings with the United States Securities and Exchange Commission. Further, forward-looking statements reflect Quanergy’s expectations, plans or forecasts regarding 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, although Quanergy may choose to update these forward-looking statements at some time in the future, Quanergy expressly disclaims any obligation to do so, except as required by law.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220913006287/en/

CONTACT: Media contact

Shannon Van Every

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Investors:

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KEYWORD: CALIFORNIA CHINA UNITED STATES HONG KONG NORTH AMERICA ASIA PACIFIC EUROPE TAIWAN

INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING AUTOMOTIVE TECHNOLOGY MANUFACTURING OTHER TECHNOLOGY DRIVING/AUTONOMOUS VEHICLES OTHER MANUFACTURING SOFTWARE ENGINEERING ELECTRONIC HARDWARE DESIGN AUTOMATION

SOURCE: Quanergy Systems, Inc.

Copyright BusinessWire 2022.

PUBLISHED: 09/13/2022 18:27 / DISK: 09/13/2022 18:27

http://www.businesswire.com/news/home/20220913006287/en


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