LiDar, Laser Firms Join Forces To Tap $11B Opportunity. At Ports? - Ouster (NASDAQ:OUST)

Ouster, Inc. (NYSE:OUST) and LASE GmbH signed a multi-year supply agreement to help further automate and retrofit container terminals and crane systems at ports with 3D digital lidar sensors.
LASE GmbH is a provider of laser-based sensor applications for industrial equipment. The agreement includes a binding commitment for several hundred Ouster OS sensors through 2025.
LASE plans to offer new solutions utilizing Ouster’s 3D digital lidar sensors to increase and enhance the capabilities of its existing and new installations.
Now valued at about $2 billion, the smart port market is anticipated to grow to over $11 billion by 2030. The financial and social return on investment from deploying a 3D lidar-based system can be significant, given increased functionality and reduced accidents after incorporating these systems.
Price Action: OUST shares are trading higher by 3.16% at $0.8743 on the last check Tuesday.
Photo Via Company

To add Benzinga News as your preferred source on Google, click here.