Aeva Technologies Secures Multi-Year LiDAR Supply Deal with The Indoor Lab

Aeva Technologies Inc. (NYSE: AEVA), a manufacturer of advanced FMCW 4D LiDAR sensors, has secured a multi-year sensor supply deal with The Indoor Lab, a LiDAR perception and analytics solutions company. This agreement represents Aeva's first industrial customer production win for its next-generation Atlas 4D LiDAR, with sensor shipments commencing this month and expected to ramp up in 2025.

The Indoor Lab plans to integrate Aeva's 4D LiDAR technology into its Overwatch Perception Platform, which is used to enhance safety, security, and operational efficiency in major U.S. airports, mass transit railways, agriculture, and smart infrastructure across various large venues. Initial deployments will include John F. Kennedy International Airport's New Terminal One and San Francisco International Airport.

This deal is significant for Aeva as it demonstrates growing adoption of its technology beyond the automotive sector. It provides the company with increasing near-term revenue opportunities ahead of its planned production launch with Daimler Truck and complements other production programs with Nikon and May Mobility.

Aeva's 4D LiDAR technology offers distinct advantages over traditional time-of-flight 3D LiDAR, including the ability to measure range and velocity simultaneously and immunity to sunlight interference. These features were key factors in The Indoor Lab's decision to select Aeva's technology after evaluating numerous options in the market.

The agreement with The Indoor Lab follows Aeva's recent selection by a top U.S. National Security Organization to help protect critical energy infrastructure sites across the United States. This expansion into industrial and security markets showcases the versatility and applicability of Aeva's LiDAR technology across diverse sectors.

As the global LiDAR market is projected to grow at a CAGR of 19.3% through 2030, Aeva's strategic partnerships and technological advancements position the company to capitalize on this growth. The deal with The Indoor Lab not only strengthens Aeva's foothold in the industrial market but also demonstrates the scalability and performance of its 4D LiDAR technology in critical infrastructure applications.