Tampa airport deploys Aeva’s 4D LiDAR technology to enhance operations

MOUNTAIN VIEW, Calif. - Tampa International Airport (TPA) has begun installing Aeva’s (NASDAQ:AEVA) 4D LiDAR technology as part of an initiative to optimize operations and improve security, according to a press release issued Wednesday. The company, currently valued at $1.4 billion, has seen remarkable growth with its stock surging over 475% in the past six months. According to InvestingPro data, analysts anticipate continued sales growth for the current year.

The deployment, implemented by Sotereon.AI (formerly The Indoor Lab), is expected to become one of the largest airport deployments of LiDAR technology in the United States. The system uses frequency modulated continuous wave (FMCW) 4D LiDAR sensors to capture real-time data across the airport. With a strong current ratio of 2.88 and more cash than debt on its balance sheet, Aeva appears well-positioned to support such large-scale implementations.

Patrick Blattner, CEO and Co-Founder of Sotereon.AI, said the technology combination delivers "insights to infrastructure operators that weren’t possible before."

The technology aims to address several operational areas, including infrastructure management, passenger monitoring, and tarmac operations. Specific applications may include unauthorized access monitoring, real-time traffic management, passenger safety monitoring, and detection of safety hazards in restricted areas.

This installation follows previous deployments at other major U.S. airports, including John F. Kennedy International Airport’s New Terminal One.

James Byun, Managing Director of Business Development at Aeva, described the Tampa project as "another leading example of what’s possible with our flexible technology platform."

The press release did not disclose financial details of the deployment or specify how many sensors would be installed throughout the airport.

Aeva’s technology integrates LiDAR components onto silicon photonics chips, allowing for detection of both 3D position and instant velocity data.

In other recent news, Aeva Technologies has expanded its partnership with Daimler Truck North America to increase the production of its 4D LiDAR technology for autonomous vehicles. This collaboration involves additional funding from Daimler to support Aeva’s development efforts, aiming to install production capacity for up to 200,000 LiDAR units annually. Aeva has also achieved TISAX certification, confirming it meets automotive security standards set by the German Association of the Automotive Industry, which is important for suppliers working with global manufacturers. In another development, Aeva has partnered with Loxo to integrate its 4D LiDAR technology into Loxo’s autonomous vehicle fleet, enhancing urban autonomy software for delivery vehicles. Additionally, Aeva’s 4D LiDAR technology has been selected by Airbus UpNext for the Optimate project, which focuses on improving aircraft taxiing automation. The company’s shareholders recently elected two Class I directors and approved an auditor at the annual meeting. These directors, Katherine Motlagh and Stefan Sommer, will serve until the 2028 annual meeting.

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