A pioneer in remote sensing, Intermap provides world-class, high-resolution imagery and precise 3D elevation models, feature and vector data extraction and software tools, which meet stringent national mapping agency specifications for large-scale base mapping in difficult and austere environments. Particularly in the regions of the world where optical LiDAR and other SAR sensors are inhibited by near-permanent cloud cover, rainfall or dense jungle canopy, Intermap is uniquely positioned to fulfill high-resolution geospatial data creation and exploitation requirements.
In Borneo, Intermap will use its proprietary sensor technology to collect airborne IFSAR imagery and create 3D digital elevation models (3D DEMs) and 3D-derivative feature products to build authoritative base maps for the island. The Company will deploy its recently upgraded multi-frequency radar to collect cloud-free imagery and detect features through dense tropical canopy. These unique sensors operate beyond the visual range of the electromagnetic spectrum, providing situational awareness not available from narrow-spectrum cameras. To further maximize information content from its 3D models, Intermap will deploy proprietary IRIS™ technology to create DEMs with advanced multi-sourced pixel integration, delivering superior data products quickly, accurately and economically. The extracted content layers will be combined to form high-resolution topographic base maps, supporting planning and development.
Intermap's sensors and technology collect 25-centimeter resolution IFSAR imagery and produce 1-meter resolution DEMs and feature products, including full triple canopy foliage penetration, for foundational base maps at better than 1:5,000 scale in harsh terrain environments. Using artificial intelligence and machine learning algorithms, the Company's patented IRIS engine automatically extracts primary features from multi-sourced data, including high-frequency and low-frequency radar, multi-spectral imagery, LiDAR, satellite SAR, optical sensors, aerial photo and other sources, in near real-time, to assist in identifying and monitoring changes in features, objects and hybrid vectors.
Topographic maps and their derivatives are vital for national planning and development, such as security design, sovereign border enforcement, urban and rural development, search and rescue, disaster management, flood forecasting and warning, taxation, natural resource management, tourism and sustainability planning. Operations for this contract will employ local personnel, including for advanced project responsibilities such as data processing, field surveys and project management. A series of training courses will be conducted to help government users understand, employ and deliver some of the world's most advanced geospatial imagery, DEMs, feature products and software tools.
After not completing any government work during 2020 due to COVID-19, today's announcement marks Intermap's third government contract award from a national government mapping agency since the end of the second quarter of 2021. The government contracts announced so far in 2021 will increase the Company's revenue per employee by 65% over 2020, reflecting Intermap's tremendous progress towards extending its automation, scalability, productization and profitability.
In addition to Intermap's recently announced award with the National Geospatial-Intelligence Agency (NGA) in the United States, the Company's other new national government contracts are in Asia and Latin America, representing regional total addressable markets of $8.3 billion and $4.2 billion, respectively. These markets are growing at 15.7% and 17.3%, respectively, versus the global geospatial market, which is growing at 12.6%. Now that Intermap has been qualified and its advanced and patented technology has been endorsed by national mapping authorities, Intermap will leverage decades of local relationships and past performance to capture increasing market share in these critical, high-growth regions. With today's announcement, Intermap is currently fulfilling critical digital infrastructure requirements for national governments on three continents, reflecting the Company's ongoing success during the COVID-19 period in expanding its total addressable market and growing its market share.
"We are pleased to announce this milestone contract and Intermap's redeployment to Southeast Asia, where we have been established for more than three decades as a trusted local partner to national governments and their commercial contractors," said Patrick A. Blott, Intermap Chairman and CEO. "Particularly in this strategically critical region of the world, where territory and natural resources are frequently contested, Intermap's high-acuity 3D models provide proprietary tools to advance regional sovereignty, economic development and public safety."
Intermap Reader Advisory
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", "will be", "will consider", "intends" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap's forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap's Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. 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 Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. 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 forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
About Intermap Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company's proprietary 3D NEXTMap® elevation datasets and value-added geospatial collection, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data. Intermap helps governments build authoritative geospatial datasets and provides solutions for base mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company's commercial applications include aviation and UAV flight planning, flood and wildfire insurance, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation. For more information, please visit
www.intermap.com.
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