Quanergy Systems Shares Jump Following Multi-Million Dollar Deal With Prime Secured

Prime Secured agreed to use Quanergy Systems, Inc QNGY products and software to provide its customers with more significant physical security and flow management capabilities.
Prime Secured has placed a multi-million dollar order with Quanergy that will begin with deployment at a major casino.
Using Quanergy's MQ-8™ 3D LiDAR sensors and QORTEX DTC, Prime Secured will be able to provide enhanced surveillance, and access control solutions and better solve business challenges like traffic flow and situational awareness.
Quanergy is a leading provider of LiDAR sensors and smart 3D solutions.
Jamie Bumgardner, CEO of Prime Secured, said: "With Quanergy's technology, we're able to provide our customers in the gaming space with an analytics platform that gives them deeper insight into activity at their facilities."
Brad Sherrard, chief revenue officer of Quanergy Systems, Inc., said: "This marks a significant, multi-million dollar deal that will enable us to improve flow management and physical security with deeper insight and analytics. The gaming facility deployment paves the way for future deployments of this joint solution."
Price Action: QNGY shares traded higher by 27.80% at $0.42 on the last check Wednesday.