InnovizTwo won the gold award in the Smart Transportation category for its technical excellence

TEL-AVIV, Israel, May 10, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) a Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, (the "Company" or "Innoviz") announced today that its second generation LiDAR sensor, InnovizTwo, won Gold in the Smart Transportation category of the 2023 Edison Awards™. Recognition from the Edison Awards coincides with InnovizTwo garnering increasing interest from the automotive market, as well as ongoing progress on existing programs with leading automakers. 

The Edison Awards, named after the American inventor Thomas Alva Edison, recognize the world's most innovative products and business leaders. Past winners include Steve Jobs, Elon Musk, General Motors, Genentech and others. This year marks the inaugural year for the Smart Transportation category, which recognizes leading innovations and products that are accelerating the future of mobility. The Gold, Silver and Bronze Winners are chosen as the "best of the best" within their respective categories by senior business executives, designers, academics and innovation leaders.

"LiDAR is the new standard for automotive safety, and it is an honor to be recognized as one of the first Gold winners in the Edison Awards' newest category, Smart Transportation," said Omer Keilaf, Co-founder and CEO at Innoviz. "Our InnovizTwo LiDAR is expertly engineered and rigorously tested to meet the leading OEMs' strict performance and design requirements at a cost that can support scale, unlocking safe mobility for all."

InnovizTwo is designed to offer a safe, automotive-grade, solution for autonomous vehicles, that will enable safe Level 2+ to Level 4 autonomy and features an embedded perception software at a competitive price.

The 2023 winners were selected by the Edison Awards Steering Committee as well as an independent judging panel of senior scientists, designers, engineers, marketers and leading academics. Innoviz was selected from among thousands of applicants, making the Company one of 153 companies to receive an Edison Award this year. The award was officially presented at the Edison Awards Gala on April 20, 2023, in Fort Myers, Florida. Innoviz Vice President of North America Scott Craig accepted the award on behalf of the Company.

For more information about Innoviz LiDAR, watch this video and visit the Innoviz website.

About The Edison Awards:
Established in 1987, the Edison Awards is a program conducted by Edison Universe, a non-profit 501(c)(3) organization dedicated to fostering future innovators. The annual competition honors excellence in new product and service development, marketing, design and innovation. Past award recipients include Steve Jobs, Elon Musk, and leaders of global corporations such as Coca-Cola, Genentech, General Electric, General Motors, IBM and Campbell Soup Co. In 2022, the Edison Awards introduced the inaugural Lewis Latimer Fellowship program designed to celebrate, connect and bring together a community of innovative Black thought leaders. For more information, visit www.edisonawards.com.

About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally-recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. For more information, visit innoviz-tech.com.

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Media Contact
Media@innoviz-tech.com

Investor Contact (US)                                                               
Rob Moffatt                                                                                     
VP, Corporate Development & IR                                                   
Innoviz Technologies                                                                        
+1 (203) 665-8644                                                                         
Investors@innoviz-tech.com                                                 

Investor Contact (Israel)
Maya Lustig
Director, Investor Relations
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com

Forward Looking Statements 
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz's products, the markets in which Innoviz operates and Innoviz's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. 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. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to convert design wins into definitive orders and the magnitude of such orders, the ability to identify and realize additional opportunities, and potential changes and developments in the highly competitive LiDAR technology and related industries. The foregoing list is not exhaustive. You should carefully consider such risk and the other risks and uncertainties described in Innoviz's annual report on Form 20-F filed with the SEC on March 9, 2023 and other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations. 

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SOURCE Innoviz Technologies