2022-09-08 | TSX:IMP | Press release

NEXT Map® elevation data and analysis will improve efficiency and reduce costs foran industry leader in solar energy site planning

Develop scalable and customized analytics to meet the growing demand for solar power worldwide

DENVER, September 8, 2022 /PRNewswire/ – Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial data and intelligence solutions, today announced a new contract with a leading solar energy company to provide NEXTMap® elevation data as a service and analytics to support solar farm planning and site assessment. Intermap’s solution saves renewable energy companies significant time and resources.

Intermap’s elevation data as a service business model is scalable to meet specific customer needs. The company has developed custom slope analyzes based on the specific needs of the solar energy company. It quickly provides detailed terrain slope information for site assessments, visualization and planning. This type of analysis usually occurs in the preliminary stages of planning so that organizations can focus on the most promising sites. Once the solar sites are prioritized, survey teams deploy drones and other equipment to further assess and model the locations. A major benefit is the reduction of these more costly and time-consuming surveys. Customers can access the elevation data and analysis they need without purchasing the elevation models, resulting in a cost-effective solution that can be used by non-geospatial experts.

“We are excited to provide solar energy companies with industry-leading elevation data and analysis to support solar projects around the world,” said Patrick A. Bott, Chairman and Chief Executive Officer of Intermap. “Intermap’s easily accessible geospatial data and analytics allow solar companies to easily manage multiple projects and save the time and money associated with dispatching ground crews in the early stages of construction. planning.”

Today’s new subscription reflects Intermap’s continued expansion into the renewable energy market, where its NEXTMap elevation data and analysis is meeting the growing demand for solar power. The global solar energy market is expected to grow from $184.03 billion in 2021 for $293.18 billion in 2028 at a CAGR of 6.9% (Source). The growth in demand for solar energy is driven by the environmental emergency and the incentives put in place by governments to help reduce carbon emissions. Intermap’s global data coverage enables energy companies to expand their operations to meet growing demand for renewable energy while maintaining confidence that the data will provide accurate and consistent results anywhere in the world.

Recent successes with other leading renewable energy companies show the growing demand for Intermap’s unique capabilities to provide the tools needed for renewable energy planning and climate resilience projects. The company generates recurring revenue with a high margin by focusing on elevation data as a service and analytics to meet global demand for clean energy.

This new contract includes access to Intermap’s NEXTMap elevation data and custom slope analysis, allowing the client to assess viability, assess canopy heights and perform embankment analysis in the preliminary planning stages of proposed solar projects.

To learn more about Intermap’s elevation data and analytics for renewable energy, visit www.intermap.com/renewable-energy.

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Certain information provided in this press release constitutes forward-looking statements. The words “anticipate”, “expect”, “project”, “estimate”, “expect”, “will”, “consider”, “intend” and similar expressions are intended to identify such forward-looking statements. . Although Intermap believes that these statements are based on current, reasonable and complete information and assumptions, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap’s forward-looking statements are subject to risks and uncertainties relating to, among other things, cash available to fund operations, availability of capital, fluctuations in earnings, the nature of government contracts, economic conditions, loss of key customers, retention and availability of management talent. , competing technologies, common stock price volatility, loss of proprietary information, software functionality, Internet and system infrastructure functionality, information technology security, breakdown of alliances strategic and international and political considerations, as well as the risks and uncertainties discussed in Intermap’s annual information form and other securities filings. Although the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expected. Accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will or will occur, or if any of them occur, what benefits the Company will derive therefrom. All subsequent forward-looking statements, written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any of the forward-looking statements made in this press release, whether or as a result of new information, future events or otherwise, except as required by applicable securities laws.

About Intermap Technologies

Founded in 1997 and based in Denver, Colorado, Intermap (TSX:IMP) (OTCQX:ITMSF) is a global leader in geospatial intelligence solutions, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models. Through the scientific analysis of geospatial information and patented sensors and processing technology, the company provides diverse, complementary and multi-source datasets to enable customers to seamlessly integrate geospatial intelligence into their workflows. of work. Intermap’s 3D elevation data and software analysis capabilities enable global geospatial analysis through artificial intelligence and machine learning, providing customers with critical information to understand their terrain environment. Leveraging its proprietary archive of the world’s largest collection of multi-sensor global elevation data, the company’s collection and processing capabilities deliver multi-source 3D datasets and analyzes at the speed of mission, enabling governments and businesses to create and integrate geospatial master data with actionable insights. . Applications for Intermap’s products and solutions include defense, aviation and UAV flight planning, flood and forest fire insurance, disaster mitigation, base mapping, planning environment and renewable energy, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas, and transportation. .

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SOURCEIntermap Technologies Corporation