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Gauzy Secures FMCSA Exemption Renewal, Positioning Company to Accelerate Mainstream Adoption of Advanced Driver Assistance Systems (ADAS) in Commercial Vehicles Throughout the U.S.
Globe Newswire 27-Feb-2025 7:00 AM
Extension enables Gauzy's Smart-Vision® camera monitor system (CMS) to replace mirrors on public transit buses in all 50 states, pending necessary approvals from individual state government officials and local transit agencies
Approval opens Gauzy to the potential of retrofitting more than 900,000 buses in the country with the Smart-Vision® system
Gauzy was awarded an exemption renewal by the FMCSA, positioning the company to accelerate the mainstream adoption of ADAS technologies in commercial vehicles throughout the U.S.
NEW YORK and TEL AVIV, Israel, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Gauzy Ltd. (NASDAQ:GAUZ), a global leader in light and vision control technology, is pleased to announce that it was awarded an exemption renewal by the Federal Motor Carrier Safety Administration (FMCSA), positioning the company to accelerate the mainstream adoption of advanced driver assistance systems (ADAS) in commercial vehicles throughout the U.S. By obtaining the extension from the FMCSA, the lead federal government agency responsible for regulating and providing safety oversight of commercial motor vehicles, Gauzy was granted the right to replace traditional mirrors on public transit buses in all 50 states with its cutting-edge AI-powered Smart-Vision® camera monitor system (CMS), dependent upon Gauzy securing the necessary approvals and licenses required by each individual state government and their respective transit agencies.
The FMCSA approval enables Gauzy and Luminator Technology Group, a strategic partner of Gauzy and the largest distributor of its Smart-Vision® CMS in North America today, to capitalize on the growing investment the federal government, states, and local municipalities are making to enhance safety in mobility. With more than 900,000 licensed buses in the U.S. that are capable of being retrofitted with the Smart-Vision® system, Gauzy has the potential to extend its already market-leading position and generate a sizable new revenue stream.
Eyal Peso, CEO of Gauzy, stated, "The FMCSA renewal is a significant strategic win for Gauzy and positions us to grow our Safety Tech division substantially in the U.S. The extension not only reaffirms the sophistication and efficacy of our Smart-Vision® CMS, but also opens doors for expanded implementation across interstate and intrastate markets. With the system capable of being retrofitted into existing vehicles and integrated into new ones, we're excited to bring this technology to more fleets nationwide as part of our ethos to make roads safer for all."
The Smart-Vision® CMS is already operational on approximately 300 public buses across the U.S., including buses owned by the Capital District Transportation Authority (CDTA), one of the first public transit agencies in New York to operate select buses entirely without mirrors that is in the next phase of a multi-year phase-in program designed to improve road safety. In addition to New York, Gauzy has already obtained exemption requirements from various states to either retrofit existing buses or outfit new ones with the Smart-Vision® CMS, and has pending approvals from 21 additional states.
Gauzy has demonstrated the effectiveness of its Smart-Vision® system in several international markets, including London, whereby at the end of 2024, it had equipped over 2,500 buses in the U.K. capital with this technology, covering approximately 30% of the market, and is on track to outfit 8,500 buses in the city with this technology. The Smart-Vision® CMS has proven to drastically improve road safety for drivers of commercial vehicles by eliminating blind spots altogether and automatically detecting potential road hazards in advance to reduce the possibility of an accident occurring.
"We are thrilled that Gauzy, one of our most important strategic partners, had its FMCSA exemption renewed," commented Magnus Friberg, CEO of Luminator. "Given the extensive reach of our U.S. operations and our strong relationships with transit officials across the country, this extension significantly enhances the potential to exponentially increase the number of buses equipped with Gauzy's ADAS nationwide. We look forward to solidifying our market share of ADAS and making cities safer as a result."
Gauzy's Smart-Vision® CMS is manufactured according to the highest quality standards and meets strict regulatory standards for different regions, including United Nation (UN) R46, UN R10, UN R118 and UN R151, and stringent cybersecurity Automotive Spice standards set by OEMs, such as UN R155 and UN R156.
About Gauzy Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates. Gauzy serves leading brands across aeronautics, automotive, and architecture in over 30 countries through direct fulfillment and a certified and trained distribution channel.
Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy's strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as "may," "seek," "will," "consider," "likely," "assume," "estimate," "expect," "anticipate," "intend," "believe," "do not believe," "aim," "predict," "plan," "project," "continue," "potential," "guidance," "objective," "outlook," "trends," "future," "could," "would," "should," "target," "on track" or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy's current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict including, without limitation, the following: Gauzy invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile markets, and there can be no assurance that it will win production models, which could adversely affect its future business, results of operations and financial condition; failure to make competitive technological advances will put Gauzy at a disadvantage and may lead to a negative operational and financial outcome; Gauzy being an early growth-stage company with a history of losses and its anticipation that it expects to continue to incur significant losses for the foreseeable future; its operating results and financial condition have fluctuated in the past and may fluctuate in the future; it is exposed to high repair and replacement costs; it may not be able to accurately estimate the future supply and demand for its light and vision control products, which could result in a variety of inefficiencies in its business and hinder its ability to generate revenue; if it fails to accurately predict its manufacturing requirements, it could incur additional costs or experience delays; the estimates and forecasts of market opportunity and market growth it provides may prove to be inaccurate, and it cannot assure that its business will grow at similar rates, or at all; it may be unable to adequately control the capital expenditures and costs associated with its business and operations; it may need to raise additional capital before it can expect to become profitable from sales of its light and vision control products, which such additional capital may not be available on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force it to delay, limit or terminate its product development efforts or other operations; shortages in supply, price increases or deviations in the quality of the raw materials used to manufacture its products could adversely affect its sales and operating results; its business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine; it is subject to, and must remain in compliance with, numerous laws and governmental regulations across various countries concerning the manufacturing, use, distribution and sale of its light and vision control products, and some of its customers also require that it complies with other unique requirements relating to these matters; if it is unable to obtain, maintain and protect effective intellectual property rights for its products throughout the world, it may not be able to compete effectively in the markets in which it operates; the market price of its ordinary shares may be volatile or may decline steeply or suddenly regardless of its operating performance, and it may not be able to meet investor or analyst expectations; its indebtedness could adversely affect its ability to raise additional capital to fund operations, limit its ability to react to changes in the economy or its industry and prevent it from meeting its financial obligations; it has limited operating experience as a publicly traded company in the United States; conditions in Israel could materially and adversely affect its business; and any other risks and uncertainties, including, but not limited to, the risks and uncertainties in the Company's reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company's prospectus (Registration No. 333-278675), dated June 5, 2024 and filed with the SEC. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.
