DENVER: Intermap Technologies Corp. today announced that its Intermap Federal Services, Inc. subsidiary has received a USD $12.5 million contract to provide 3D digital elevation data and orthorectified radar imagery for an international project. The project will be accomplished using the Company's proprietary Interferometric Synthetic Aperture Radar (IFSAR) technology. Under the agreement, the Company will collect and deliver radar mapping services for the client over the next eight-months.
“The strength of our contract services efforts and our ability to collect and deliver high quality data on-time is a testament to the value we continue to deliver to our clients,” commented Brian Bullock, president & CEO for Intermap Technologies. “In addition to these contracts for collection in specific areas around the world, we are proactively remapping the United States and Western Europe under our NEXTMap® initiative. Our fleet of five aircraft equipped with radar mapping technology provides us with a capacity of about 4 million square kilometers per year which enables Intermap to meet the needs of a multitude of clients around the world.”
About Intermap Technologies
Intermap (TSX: IMP.TO, AIM: IMAP.L) is creating uniform 3D digital models of the earth's surface and building a library of affordably priced elevation data and geometric images of unprecedented accuracy. The Company is proactively remapping entire countries and building uniform national databases, called NEXTMap®. Demand for NEXTMap® data is growing as new commercial applications emerge within the GIS, engineering, automotive, personal navigation device, insurance risk assessment, oil and gas, hydrology, environmental planning, wireless communications, transportation, aviation, and 3D visualization markets.
Headquartered in Denver, Colorado, Intermap employs more than 500 people worldwide, with additional offices in Calgary, Detroit, Jakarta, London, Munich, Ottawa, and Prague. For more information, visitwww.intermap.com.
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Intermap Reader Advisory
This news release contains certain forward-looking statements, which include certain assumptions with respect to the future business and operations of the Company. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
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