Ouster to supply over five thousand digital lidar sensors to Third Wave through 2025

Ouster, Inc. (NYSE: OUST) ("Ouster" or the "Company"), a leading provider of high-resolution digital lidar sensors, today announced that it signed a strategic customer agreement with Third Wave Automation, a provider of versatile and effective autonomous solutions for the material handling industry. The agreement includes a forecast for over five thousand OS sensors through 2025 to equip robotic material handling vehicles with 3D digital lidar, a key component of Third Wave's autonomous driving sensor suite.

Powered by its proprietary advanced perception software and collaborative autonomy platform, Third Wave Automation combines hybrid autonomous vehicles, intelligent fleet management, remote operation, and assistance capabilities to provide holistic material handling solutions that improve over time. Vehicles, such as forklifts, will be equipped with up to four Ouster sensors to carry out tasks such as object detection, localization, and mapping. The Third Wave Automation solution can be built into new material handling vehicles, including those developed through its strategic partnership with Toyota Industrial Corporation. The system offers the ability for vehicles to operate in manual, remote control, or fully autonomous modes, providing the end customer with flexibility in task management.

"After a series of tests with several other lidar technologies, we selected Ouster's OS sensors for their high resolution and reliability, along with their ability to detect obstacles close to the vehicle," said Mac Mason, Co-founder and Chief Robotics Officer at Third Wave. "We view Ouster as the performance leader in 3D lidar and as a dependable long-term partner to scale with as Third Wave's business grows."

As global supply chain automation continues to accelerate, Ouster expects its total addressable market for the industrial vertical to reach an estimated $2.1 billion by 20251. This is driven in part by the material handling equipment market, which is expected to expand from $212 billion in 2019 to $321 billion by 20272, representing a significant opportunity to capture demand for automation across warehouses, manufacturing floors, ports, and distribution yards.

"Ouster continues to win new customers in the industrial vertical, which is ripe for automation with 3D digital lidar. Third Wave is one of the leading material handling automation upstarts poised to scale rapidly across our warehouse and logistics submarkets," said Nate Dickerman, President of Field Operations at Ouster. "Our two companies see an incredible opportunity to help modernize the supply chain through automated technologies that increase safety, efficiency, and productivity."

About Third Wave Automation

Third Wave Automation (TWA) was founded in 2018 in Union City, CA, in order to alleviate increasing supply chain stress using intelligent automation products and services. Leveraging machine learning and artificial intelligence to create its Collaborative Autonomy Platform, TWA brings humans and automated systems together to improve throughput, efficiency and safety beyond what either humans or automation could achieve alone. The Collaborative Autonomy Platform combines hybrid autonomous vehicles, intelligent fleet management, remote operation and assistance capabilities to provide holistic materials handling solutions that improve over time. TWA's platform requires no infrastructure upgrades, integrates into existing workflows and delivers immediate value to customers on deployment. For more information, visit thirdwave.ai.

About Ouster

Ouster (NYSE: OUST) is building a safer and more sustainable future through its high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure, and robotics industries. Ouster's sensors offer an excellent combination of price and performance with the flexibility to span hundreds of use-cases and enable revolutionary autonomy across industries. With a global team and high-volume manufacturing, Ouster supports approximately 600 customers in over 50 countries. Ouster is headquartered in San Francisco, CA with offices in the Americas, Europe, Asia-Pacific, and the Middle East. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.