EUGENE, Ore., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles for moving people and stuff, today announced that it has joined SoCal Tech Bridge’s Project Vesta, an innovative public-private partnership designed to mitigate wildfires using a combination of next-generation technologies, powered by AI, 5G, and ultra-efficient vehicles.
In collaboration with TESIAC, a Managed Services Platform that delivers Infrastructure-as-a-Service to public and private entities, and a member of the Project Vesta leadership team, Arcimoto will participate in the first Project Vesta live experiment from February 14 to 18 at Camp Roberts in San Miguel, CA. The Vesta Team will be testing an unmanned fire mitigation prototype that combines state-of-the-art technology to identify risk, reduce response time, and support wildfire mitigation efforts. The Joint Interagency Field Experimentation will take place on Camp Roberts in a primarily grassland environment.
“Fires start small, so the faster we can identify and locate a growing wildfire and deploy the appropriate tools, the more we can mitigate this growing problem, saving billions of dollars in damages to our forests and communities, while making the emergency safer for the boots on the ground,” said Jesse Fittipaldi, Arcimoto Chief Strategy Officer. “The idea is elegant and simple, bringing together some of our most exciting technologies: use AI to scan the skies for smoke trails, dispatch fire-fighting drones and ultra-efficient vehicles using 5G connectivity to quickly arrive on the scene, buying valuable time for firefighters to arrive before a small fire has a chance to grow into a wildfire.”
The Project Vesta team is passionate about developing and sharing better, quicker, and safer means to deal with wildfires. The program goals are rapid fire identification, mapping, and timely containment agents on target, coupled with persistent fire surveillance, analytics capabilities, and convenient interoperability.
“Wildfires are a wicked problem continually growing in severity and scope, and this prototype has the potential to identify fire risk, reduce response time, and decrease direct firefighter engagement,” said Captain Ben Cohen, USMC. “Humans are still deeply engaged in the process, but at a safer distance. We are excited to be a part of such meaningful work.”
For the latest company updates, follow Arcimoto on YouTube, Facebook, Instagram, Twitter, TikTok, and LinkedIn. Investor information about the company, including press releases, stakeholder webcast replays, and more can be found at http://arcimoto.com/ir.
About Arcimoto, Inc.
Arcimoto (NASDAQ: FUV) develops and manufactures ultra-efficient and affordable electric vehicles to help the world shift to a sustainable transportation system. Arcimoto vehicles are currently available for reservation in California, Oregon, Washington, Nevada, Arizona, and Florida, and for preorder worldwide. Our flagship vehicle, the Arcimoto FUV®, is purpose-built for everyday driving and transforms ordinary trips into pure-electric joyrides. Launched in 2021, the all-new Arcimoto Roadster is designed to be the ultimate open-road fun machine and is the purest expression of the Arcimoto Platform. The Deliverator® and Rapid Responder™ provide last-mile delivery and emergency response functionality, respectively, at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Expected to launch in 2022, the Flatbed represents Arcimoto’s vision of a pure-electric, rightsized utility pickup truck. The upcoming Cameo™ is designed to create a smooth, silent, sustainable camera vehicle for the film and influencer industries. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.
About NavalX SoCal Tech Bridge
SoCal Tech Bridge, the regional arm of the U.S. Navy’s NavalX program, has been operating for several years to promote and validate a non-traditional partnership of industry, installations, and research. CANA Advisors have worked closely with them to advance their innovation mission with technology and market research; modeling, simulation, and analysis support; event planning and marketing; and stakeholder engagement. MCAS Miramar, San Diego, California, has been the testbed for much of the work. Successes there include the development and establishment of an Autonomous Vehicle (AV) Proving Grounds, a 5G Living Lab for 5G technology innovation, and an Electric Mobility Living Lab to support knowledge transfer, testing, and refinement of electric mobility employment concepts. The research, analysis, planning, and execution of these ideas have been supported by numerous public-facing, learning and collaborative events.
About TESIAC
TESIAC is an Economic Development and Managed Services Platform that delivers Infrastructure-as-a-Service to public and private entities through flexible project management and innovative financial structures. TESIAC operates at the nexus of mobility, technology, energy, and capital markets. By doing so, TESIAC enables integrated and interoperable systems to enhance overall efficiencies, increase operational performance, and create layers of sustainable value. TESIAC brings together an experienced interdisciplinary team and partners with new and advanced technologies, as well as flexible and innovative capital structures. Our core principles are centered around smart city development with a focus on climate, social equity, and job creation.
Safe Harbor / Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict and include, without limitation, our expectations as to vehicle deliveries, the establishment of our service and delivery network and our expected rate of production. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC. In addition, such statements could be affected by risks and uncertainties related to, among other things: our ability to manage the distribution channels for our products, including our ability to successfully implement our rental strategy, direct to consumer distribution strategy and any additional distribution strategies we may deem appropriate; our ability to design, manufacture and market vehicle models within projected timeframes given that a vehicle consists of several thousand unique items and we can only go as fast as the slowest item; our inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility; our dependence on our suppliers; changes in consumer demand for, and acceptance of, our products: changes in the competitive environment, including adoption of technologies and products that compete with our products; the overall strength and stability of general economic conditions and of the automotive industry more specifically; changes in laws or regulations governing our business and operations; costs and risks associated with potential litigation; and other risks described from time to time in periodic and current reports that we file with the SEC. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, we do not undertake any obligation to update any forward-looking statements.
Public Relations Contact:
Megan Kathman
(651) 785-3212
pr@arcimoto.com
Investor Relations Contact:
investor@arcimoto.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d6925733-9d38-4af9-b840-69b308bd9c91
