Disruptive technology addresses global logistics market

BOSTON--(BUSINESS WIRE)--Venti Technologies, the leader in safe-speed autonomous mobility, today announced that it has entered into an agreement with PSA (the Port of Singapore Authority) Corporation Limited to provide self-driving prime movers to automate the transportation of containers for distribution among its terminals in Singapore. The initial phase of the project covers the development of Venti-powered prime movers at Pasir Panjang Terminals, used to move cargo containers. PSA Corporation Limited, recognized for its quality, efficiency, competitiveness and reliability, is the world�s largest container transshipment hub and handled 36.6 million twenty-foot equivalent units (TEUs) of containers in 2020.

Venti Technologies� flexible, algorithmic-based autonomous vehicle technology is uniquely capable of optimizing the transportation of cargo containers, ensuring maximum efficiency, berth allocation and resource utilization. The technology can be used in a wide range of vehicles to move varying weight loads and distances through complex spaces and over changing routes. The AI-enabled technology also addresses scheduling requirements, managing weight loads, navigating distances, avoiding obstacles and facilitating pick-up and delivery at varying locations.

�We are thrilled with the expansion of our AI-powered logistics vehicles through the agreement with PSA, which follows an agreement with the world�s largest automotive logistics provider. This agreement, covering a pilot, and the opportunity to expand over time, is another proof point for our disruptive technology,� said Heidi Wyle, CEO, of Venti. �By reducing costs and improving safety and utilization, our award-winning, AI-powered autonomous vehicle technology is helping the world�s leaders in global logistics. We are delighted to have this opportunity to work with PSA as a hub of global intelligent logistics operations.�

About Venti Technologies

Based in the U.S. and Asia, Venti Technologies is a safe-speed autonomous mobility company developing the future of transportation for moving people and goods. Using rigorous mathematical modeling, deep learning, and theoretically-grounded algorithms, Venti has developed a proprietary collection of autonomy technologies, including a suite of special purpose logistics algorithms. Venti�s proven value proposition of saving costs, increasing vehicle utilization, improving safety and providing COVID-friendly autonomous vehicles is recognized by customers and driving growth. Launched in 2018, Venti brings together an unsurpassed team internationally. The company currently has autonomous systems deployed in Asia for residential, recreational and industrial sites, with a growing pipeline in the global logistics and communities marketplace. For more information please visit www.ventitechnologies.com.

About PSA Corporation Ltd

PSA Singapore, a wholly-owned subsidiary of PSA International Pte Ltd, operates the world�s largest container transhipment hub in Singapore, handling 36.6 million TEUs of containers in 2020. With connections to 600 ports globally, shippers have access to daily sailings to every major port in the world, operating 24/7 all year round. Beyond port operations, PSA also offers cargo solutions to customers operating in advanced manufacturing, cold chain, e-commerce, and energy & chemicals. This value adding service is enabled by CALISTA�, a digital platform that facilitates trade and helps shippers to better manage their physical movement of goods, trade financing and compliance. Visit us at www.singaporepsa.com

Contacts

Beth Kurth

Conway Communications

[email protected]