TEL AVIV, Israel, Nov. 16, 2022 (GLOBE NEWSWIRE) — Arbe Robotics Ltd. (Nasdaq: ARBE) ("Arbe"), a global leader in Perception Radar Chipset Solutions, today announced that it has been named a CES® 2023 Innovation Awards Honoree for its 360° Radar-Based Perception. This is the second year in a row that Arbe has won this award. This year’s CES Innovation Awards program received a record high number of over 2,100 submissions.
The CES Innovation Awards program, owned and produced by the Consumer Technology Association (CTA)®, is an annual competition honoring outstanding design and engineering in 28 consumer technology product categories. An elite panel of industry expert judges, including members of the media, designers and engineers, reviewed submissions based on innovation, engineering and functionality, aesthetic and design.
Arbe’s 360° Radar-Based Perception won in the category of Vehicle Intelligence & Transportation. To achieve truly safe autonomous driving, sensors must progress to have a comprehensive understanding of the vehicle’s environment. Arbe’s 360° Radar-Based Perception processes highly detailed data captured by Arbe’s long-range front, back and surround radars, using AI to identify, classify, and track surrounding objects for real-time analysis of the free space around the vehicle, as well as evolving hazards.
With ultra-high resolution in all dimensions and top performance in any weather or lighting conditions, Arbe is repositioning radar to be the backbone of the autonomous and ADAS sensing suite, providing advanced safety for level 2+ and higher autonomy.
Arbe’s 360° Radar-Based Perception solution democratizes safety and autonomous technology by making the most cutting-edge radar technology available at a price that is affordable for every vehicle – not exclusive to top-of-the-line luxury.
“For the second year in a row, CTA’s panel of elite judges recognized Arbe’s products as some of the most innovative solutions in the automotive industry,” says Kobi Marenko, CEO of Arbe. “We are honored to once again accept this distinguished award and even more pleased to provide our award-winning radar-based perception solution to the automotive industry, delivering unmatched performance and safety while guiding and leading the development of next generation vehicles.”
Arbe will be showcasing their 360° Radar-Based Perception during CES at the Las Vegas Convention Center, West Hall, booth 4016.
Owned and produced by CTA, CES 2023 will take place in Las Vegas on January 5-8, 2023. The show will highlight how innovations in sustainability, transportation and mobility, digital health, the metaverse and more are addressing the world’s greatest challenges.
Arbe (Nasdaq: ARBE), a global leader in Perception Radar Chipset Solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Arbe’s imaging radar is 100 times more detailed than any other radar on the market and is a mandatory sensor for L2+ and higher autonomy. The company is empowering automakers, tier-1 suppliers, delivery robots, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm-changing perception. Arbe is a leader in the fast-growing automotive radar market that has a projected total addressable market of $11 billion in 2025. Arbe is based in Tel Aviv, Israel, and has an office in the United States.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words “expect,” “believe,” “estimate,” “intend,” “plan,” “anticipate,” “project,” “may,” “should,” “strategy,” “future,” “will,” “project,” “potential” and similar expressions indicate forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Statements that are not historical facts, including any statements that are made at the CES Innovation Awards program are forward-looking statements. You should carefully consider risks such as the risks relating to the market for and incorporation of Arbe’s radar systems in autonomous vehicles, the development of safe autonomous vehicles that include Arbe’s radar systems, the ability of Arbe to deliver products that meet the quality and delivery requirements of automakers (OEM’s), tier-1 automotive suppliers and the ability of the tier-1 suppliers and automakers to incorporate Arbe’s radar system in vehicles in a manner to enable the Arbe radar systems to function as intended, the effect of any present and future government regulations relating to autonomous vehicles as well the risk factors and uncertainties described in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Cautionary Note Regarding Forward-Looking Statements” in Arbe’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission, or SEC, on March 31, 2022 and in Arbe’s prospectus dated June 22, 2022, which was filed by Arbe with the SEC on June 23, 2022, and its prospectus dated July 11, 2022 which was filed with the SEC on July 19, 2022, as well as the other documents filed by Arbe with the SEC and any documents which are filed by Arbe prior to this press release. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and Arbe does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.