CYN CYNGN Inc

Since August 2023, Cyngn has been granted eleven additional patents, bringing the total U.S. patents granted to 21. Patent 21 enhances Cyngn's autonomous vehicles' capability to make informed decisions regarding their surroundings.

MENLO PARK, Calif., Oct. 16, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) announced the official granting of a new patent, 12,039,867. This patent covers the Company's innovative autonomous vehicle (AV) solutions.

This patent introduces a method to enhance the performance of autonomous vehicles (AVs) in real-world environments. AVs use sensors to scan and interpret their surroundings, identifying nearby objects with precision. This method enables AVs to not only detect these objects but also make informed decisions on interacting with them safely, such as navigating around slow-moving barriers, cyclists, and blind spots near large vehicles.

Moreover, the patent outlines a system that integrates these specific driving rules with broader traffic regulations, ensuring that AVs not only navigate safely but also comply with legal requirements on the road.  By combining detailed object-specific rules with general traffic laws, this innovation aims to improve the overall safety and efficiency of autonomous driving technology.

"I am pleased with the impressive advancements and speed of innovation our technology team has demonstrated, as this latest patent brings our total number of U.S. patents to 21," said Lior Tal, Chairman and Chief Executive Officer of Cyngn. "Following the 16 U.S. patents granted in 2023, these patents are the cornerstone of our growth strategy, reflecting our team's dedication and technical expertise."

The grant of this patent marks a significant milestone in Cyngn's intellectual property strategy, further bolstering its position in the AV industry. This success follows Cyngn's recent patent issuance announcement of its 20th patent.

Cyngn provides its customers a seamless way to adopt self-driving technology into their operations without high upfront costs.

Previous patents include:

For a comprehensive view of Cyngn's patents focused on modularity and flexibility of autonomous vehicle systems with multiple sensor modalities and configurations, please visit the USPTO.

About Cyngn. Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Find Cyngn on:

• Website: cyngn.com
• Twitter: twitter.com/cyngn
• LinkedIn: https://www.linkedin.com/company/cyngn
• YouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don Alvarez, CFO
investors@cyngn.com 

Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com 

FORWARD-LOOKING STATEMENTS:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the SEC, including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

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SOURCE Cyngn