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News ReleaseNovAtel Inc. to Supply CycloMedia with SPAN™ Systems
(Calgary, Alberta, Canada, June 13, 2007) — NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, has signed a Supply Agreement with CycloMedia Technology BV (CMT) to integrate their two technologies and then deliver a minimum of 25 of its SPAN™(Synchronised Position, Attitude and Navigation) systems plus its Inertial Explorer™ post processing software over a 12-month period. NovAtel’s SPAN system – a tightly integrated GPS receiver and IMU (Inertial Measurement Unit), together with its complementary Inertial Explorer software – will be key technologies onboard the new CMT Digital Cyclorama Recording (DCR7) and Digital Cyclorama Processing (DCP) systems respectively. DCR7 (patent pending) is CycloMedia´s latest model in a chain of recording systems developed in house and represents a quantum leap in visual quality, metric precision and high speed visual recording. DCR7 allows CycloMedia to optimize its large scale systematic recording of public space, by making 360° panoramic digital images (cycloramas). With DCR7, CycloMedia intends to visualize a large percentage of Europe´s public space. Among the uses for cycloramas are the sale and taxation of real estate, assessment of construction applications, inventory of the environment and valuation of risks for insurance applications. After conducting a proposal request process and extensive comparison of products available on the market, CycloMedia selected NovAtel as its technology partner and preferred supplier. Paul Bosman, CEO CycloMedia Technology, said, “NovAtel is an excellent choice for CycloMedia, because their state of the art technology combines nicely with our new and innovative digital cyclorama recording system. Also, NovAtel’s flexibility in meeting CycloMedia’s requirements was a big plus. The combined modularity of DCR7 and SPAN allow us to tune the performance of the system for specific projects or customers. As an example, using a different type of inertial measurement unit (IMU) from NovAtel’s portfolio can improve the positioning accuracy by a factor of ten.” By complementing GPS with inertial measurements, NovAtel’s SPAN technology provides more robust and more accurate positioning in challenging conditions where GPS alone is limited, and offers continuous position and attitude output. The tight coupling of GPS with inertial technology provides demonstrable benefits of faster satellite reacquisition and faster real time kinematic re-initialization after outages. Also, the capability to post-process GPS and inertial data with Inertial Explorer software provides additional tools for the user to improve upon the accuracy and integrity of the combined solution. According to Graham Purves, Vice President, Sales and Marketing for NovAtel, “We are excited to be working with CMT to deliver leading edge systems in very challenging application environments. And we are very pleased to report that after extensive testing in tough urban canyons where CMT products are used, our SPAN GPS+IMU system proved its performance and reliability. We are continuing to see these success stories as SPAN sales grow worldwide.” About NovAtelNovAtel Inc. (NASDAQ:NGPS) is a leading provider of precision Global Navigation Satellite System (GNSS) components and subsystems that afford its customers rapid integration of precise positioning technology. NovAtel’s mission is to provide exceptional return on investment and outstanding service to our customers. An ISO 9001 certified company, NovAtel is focused on developing quality OEM products including receivers, antennas, enclosures and software that are integrated into high precision positioning applications worldwide. These applications include surveying, Geographical Information System (GIS) mapping, precision agriculture machine guidance, port automation, mining, marine and defence industries. NovAtel’s reference receivers are also at the core of national aviation ground networks in the USA, Japan, Europe, China and India. We are committed to providing our customers with advanced positioning technology through significant R&D investment focusing on the modernized Global Positioning System (GPS), the revitalized Russian GLONASS and the emerging European Galileo satellite systems, as well as the integration of additional complementary technologies such as Inertial Measurement Units (IMUs). For more information, visit www.novatel.com. About CycloMediaCycloMedia Technology BV specializes in the systematic and large-scale visualization of public space, using 360° panoramic images (cycloramas). By using CycloMedia´s specialized recording and process technology as developed in house, large public areas can be photographed and stored in an online database. These images are captured from public roads at street level, using a car to carry the camera system. Each recording also includes the exact positioning and orientation for geometrically correct registration. For more information, visit www.cyclomedia.com
Certain statements in this press release, including those about NovAtel’s future plans and intentions, future performance, market acceptance and expected shipments of its SPAN technology, financial guidance, risk factors, long-term growth prospects, levels of activity or other future events, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historical facts but rather on management’s current expectations regarding NovAtel’s future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Wherever possible, words such as “anticipate”, “believe”, “expect”, “may”, “could”, “potential”, “intend”, “estimate”, “should”, “plan”, “predict”, “forecast” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including operating results of the Company’s joint venture Point, Inc. (“Point”), U.S. dollar to Canadian dollar exchange rate fluctuations, establishing and maintaining effective distribution channels, certification and market acceptance of NovAtel’s new products, the impact and timing of large orders, dependence on key customers, credit risks of customers and the Company’s joint venture Point, pricing pressures in the market and other competitive factors, maintaining technological leadership, timing of revenue recognition in connection with certain contracts, the ability to maintain supply of products from subcontract manufacturers, the procurement of components to build products, product defects, the impact of industry consolidations, vulnerability to general economic, market and business conditions, competition, environmental and other actions by governmental authorities, reliance on key personnel and other factors described in this Annual Report and other SEC filings, many of which are beyond the control of NovAtel. These factors should be considered carefully and undue reliance should not be placed on the forward-looking statements. These forward-looking statements are made as of the date of this news release, and NovAtel assumes no obligation to update or revise them to reflect new events or circumstances. |
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This file photo is an example of a 360 degree panoramic image made by CycloMedia of Dam, Amsterdam |