Intermap Technologies (OTCMKTS:ITMSF) Stock Gains After New Contract Powering Urban Air Mobility
Global leader in 3D geospatial data and intelligence solutions, Intermap Technologies (OTCMKTS:ITMSF), on October 20, 2022, announced a fresh contract with Skyroads AG and cloudeo. This will be for powering an Automated Airspace Management as well as Vehicle Guidance System. The agreement will entail Intermap’s NEXTView to be integrated into Skyroads’ system for ensuring efficiency, safety, and obstacle avoidance.
Trading Data
On Thursday, ITMSF stock gained 6.79% to $0.3524 with 222.97K shares, compared to volume of 35.32K shares. The stock moved within a range of $0.3320 – 0.3700 after opening trade at $0.3350.
Intermap Announces New Contract Powering Urban Air Mobility
Skyroads is engaged in the development of a Vehicle Guidance System and groundbreaking Automated Airspace Management for digital roads in the sky. Cloudeo is harnessing Intermap’s aviation-specific terrain data, NEXTView, for building an obstacle management system in the airspace management system. The system will ensure advanced interoperability and air mobility between manned and unmanned traffic.
Intermap created NEXTView in partnership with Lufthansa Systems for providing the industry with high-quality, terrain data. This makes NEXTView the only aviation-certified terrain data, which can be integrated into cockpit systems. Furthermore, integration of the platform into unmanned traffic management systems will enable companies to plan Unmanned aerial vehicle flights.
Patrick A. Blott, Intermap’s Chairman, and CEO said that the company is excited to be part of Skyroads’ cutting-edge technology for facilitating advanced air mobility. Blott added that combining industry-leading NEXTView terrain data with Vehicle Guidance System and Skyroads’ Automated Airspace Management will enable the urban air mobility industry to have large-scale, automated air mobility in cities.
Key Quote
“We are excited to be a part of Skyroads’ cutting-edge technology to facilitate advanced air mobility,” said Patrick A. Blott, Intermap’s Chairman and CEO. “Combining our industry leading NEXTView terrain data with Skyroads’ Automated Airspace Management and Vehicle Guidance System will provide the urban air mobility industry with critical technology, enabling large-scale, automated air mobility in cities.”
Traders Corner
ITMSF stock is trading above the 20-Day and 50-Day Moving averages of $0.3155 and $0.32 respectively. However, the stock is trading below the 200-Day moving average of $0.42.
