Quanergy Systems Inc., a provider of LiDAR sensors and smart sensing solutions, has been named to MIT Technology Review’s 2017 list of 50 Smartest Companies. To make the list, a company must exhibit technological leadership and business acumen which set them apart from competitors.

“The companies on the list combine a high level of technology innovation with a business model that will help them make the most of it,” says Nanette Byrnes, senior editor for business states. “Public and private, large and small, based in countries around the globe, this group of companies is creating new opportunities and pouncing on them. These are the ones that competitors must follow.”

The list is included in MIT Technology Review’s annual business issue.

“We are honored that MIT Technology Review has selected Quanergy for this award, and to be recognized for our commitment to developing advanced LiDAR sensor technology,” says Louay Eldada, chief executive officer of Quanergy Systems. “As the industry’s most innovative company with a patented solid state LiDAR solution that is cost effective, this recognition validates Quanergy’s role in creating a disruptive development in smart sensing and fueling the exciting growth of LiDAR across many industries.”

About Quanergy Systems

Quanergy Systems Inc. was founded in 2012 and builds on decades of experience of its team in the areas of optics, photonics, optoelectronics, artificial intelligence software and control systems. Headquartered in Sunnyvale, Calif., in the heart of Silicon Valley, Quanergy offers the LiDAR sensors and software for real-time capture and processing of 3D mapping data and object detection, tracking, and classification. In transportation, the data is utilized to greatly improve the accuracy and reliability of on-board driver safety systems and enhance them with perception, scenario analysis and decision making capability for active control, as well as enable autonomous driving in the future.