21:03:04 EDT Sat 27 Apr 2024
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Intermap Technologies Corp (2)
Symbol IMP
Shares Issued 37,693,710
Close 2023-04-12 C$ 0.62
Market Cap C$ 23,370,100
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Intermap wins 3-D digital elevation model contract

2023-04-13 10:33 ET - News Release

Mr. Patrick Blott reports

INTERMAP ANNOUNCES NEW CONTRACT FOR AGRICULTURE MANAGEMENT IN SOUTHEAST ASIA

Intermap Technologies Corp. has won a contract to supply 3-D digital elevation models (DEMs) to reduce crop loss for a leading agricultural company in Indonesia. Indonesia's economy relies on its agricultural sector, employing one third of its labor force and representing approximately 14% of its GDP. With one of the world's largest agricultural productions, the sector plays a vital role in supporting the country's growth and development. Intermap's customer is utilizing the Company's precision data for monitoring and site assessment over large areas across the islands of Sumatra and Borneo. Intermap's innovative datasets provide the client with critical information to manage their plantations efficiently, resulting in better yields. Elevation data is a key tool for agriculture companies as they decide when to irrigate and fertilize, which results in reduced crop loss due to pests and diseases.

Leveraging its one-of-a-kind data and analytics, Intermap is working with major agriculture and natural resources entities throughout Southeast Asia. These growing commercial applications, including the related positive economic, jobs, and climate effects, reinforce the urgency for national governments to update and maintain best-in-class geospatial infrastructure. Intermap believes a significant amount of future growth will follow from these contract awards.

"We are excited to be at the forefront of applying our data and innovative technology for agricultural resource management," said Patrick A. Blott, Intermap Chairman and CEO. "Our products enable farmers to make informed decisions about plantations from a sustainable, economic and environment conscious perspective."

The Company's 3D elevation models provide detailed, highly accurate information about plantation terrain and topography while supporting imagery provides up-to-date information about crop growth and land use changes. By combining these two technologies, agricultural companies can create a comprehensive representation of plantations and surrounding environments.

About Intermap Technologies

Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models. Through scientific analysis of geospatial information and patented sensors and processing technology, the Company provisions diverse, complementary, multi-source datasets to enable customers to seamlessly integrate geospatial intelligence into their workflows. Intermap's 3D elevation data and software analytic capabilities enable global geospatial analysis through artificial intelligence and machine learning, providing customers with critical information to understand their terrain environment. By leveraging its proprietary archive of the world's largest collection of multi-sensor global elevation data, the Company's collection and processing capabilities provide multi-source 3D datasets and analytics at mission speed, enabling governments and companies to build and integrate geospatial foundation data with actionable insights. Applications for Intermap's products and solutions include defense, aviation and UAV flight planning, flood and wildfire insurance, disaster mitigation, base mapping, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation.

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