VANCOUVER, British Columbia, Oct. 20, 2022 (GLOBE NEWSWIRE) — VERSES Technologies Inc. (NEO:VERS) (OTCQX:VRSSF) (“VERSES” or the “Company”), a provider of contextual computing platforms focused on next-generation solutions for artificial Intelligence, today announced the successful completion of its unique autonomous drone or urban air mobility (UAM) test in Zaragoza, Spain.
As part of Fly forward 2020, a European Commission-funded dedicated research and innovation project to develop urban air mobility infrastructure, and in collaboration with Zaragoza City Council and first responder teams, VERSES successfully deployed multiple autonomous drones to provide real-time aerial imagery to monitor the safety of hundreds of thousands of visitors taking part in the cultural procession that runs through the streets of Zaragoza during the festival of La Virgen del Pilar. Using VERSES’ real-time mobility portal, powered by the company’s AI operating system, COSM, local authorities were able to remotely monitor the entire celebration in Plaza del Pilar and surrounding neighborhoods.
Working in partnership with Zaragoza City Council and its own legal advisors, VERSES’ COSM operating system uses artificial intelligence and digital twins to guide the behavior of the autonomous drones and ensure strict compliance with aviation regulations and data protection laws. The COSM-enabled autonomous drones used on this UAM mission enabled continuous, real-time traffic flow monitoring, safety assessments, and the ability to proactively identify unusual or atypical events, reducing the need for additional surveillance teams on the ground and in the air. In addition, the COSM AI platform ensured that the controls of the autonomous drone flights comply with all local laws, data management guidelines and safety regulations, a first real demonstration of this kind of the goals set by the European Commission enable the automated compliance of AI-powered drones within the European Union.
“This has been an exciting project for VERSES and we appreciate the collaboration with the City of Zaragoza in developing and delivering an urban air mobility plan for the Pilar Festival,” said Gabriel René, Founder and CEO of VERSES. “This autonomous drone work is another example of our COSM operating system in action. From spatially mapping an entire city to creating flight plans and controlling drones via geospatial contracts in real-time, all of this is possible because of the adaptive intelligence capabilities that make our COSM platform unique.”
VERSES anticipates continuing to work with autonomous drone flights over the Line of Sight Out (BVLOS) operate cities across the European Union.
“The collaboration with VERSES and Flying Forward 2020 enabled autonomous drones to safely operate above the crowds, collecting imagery of key areas of the festival and providing vital data to our on-site first responder teams,” said Miguel Ángel Ania, Head of Innovation for the city of Zaragoza. “This information not only provided a real-time overview of the city, but also aids in future event planning – from setting up evacuation routes in case of emergencies to avoiding crowds in public spaces.”
About VERSE
VERSES is a next-generation AI company providing enabling technologies for the contextual computing age. Modeled on natural systems and the design principles of the human brain and experience, the flagship of VERSES, COSM™, is an AI operating system to enhance any application with adaptive intelligence. Built on open standards, COSM transforms disparate data into a universal context that fosters trusted collaboration between humans, machines, and AI across digital and physical domains. Verses is currently active in mobility and transportation, as well as supply chain, manufacturing and smart cities. Imagine a smarter world that enhances human potential through nature-inspired innovations. Learn more at VERSE, LinkedIn, and Twitter.
About Flying Forward 2020
Flying Forward 2020 (FF2020) is a three-year research and innovation project funded by the European Union under grant agreement number 101006828. The project focuses on creating a state-of-the-art Urban Air Mobility (UAM) ecosystem for autonomous drone missions. It includes a governance model and framework, a regulatory framework, a digital geospatial infrastructure, a digital toolbox, an Identity of Things (IDoT) schema, and multiple interoperability frameworks. The solutions developed as part of the project will be tested in five Living Labs across Europe: Eindhoven, Milan, Zaragoza, Tartu and Oulu. For more information visit www.ff2020.eu.
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VERSES Technologies Inc.
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This press release contains certain statements and information that may constitute “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of the Company’s management with respect to future events. Generally, forward-looking statements and information may be qualified by the use of forward-looking terminology such as “intends” or “anticipates” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would”. ‘ or ‘enter’. This information and these statements, which are referred to herein as “forward-looking statements,” are not historical facts, are made as of the date of this press release and include, without limitation, statements related to discussions of future plans, estimates and projections and statements such as the expectations and intentions of the Managements regarding, among other things, the Company’s ongoing work with autonomous drone flights operating BVLOS through Flying Forward 2020. In making the forward-looking statements in this press release, the Company has made several key assumptions, including without limitation that the Company will continue to operate autonomous drone flights operating BVLOS through Flying Forward 2020 and that the Company’s operations will not be impacted by COVID-19 or the ongoing conflict in Eastern Europe. These forward-looking statements involve numerous risks and uncertainties, and actual results could differ materially from those suggested in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the cessation of the Company’s work with autonomous drone flights operating BVLOS through Flying Forward 2020, adverse changes in the funding of Flying Forward 2020, or legislation related to the autonomous drone flights that conducting BVLOS, volatility in global capital markets, political instability, lack of access to capital or financing when needed, loss of key personnel, the Company may face technology or software disruptions, unforeseen costs, risks related to the COVID-19 Pandemic, risks related to the extent and duration of the conflict in Eastern Europe and its impact on global markets and other risk factors disclosed in the Company’s disclosure documents on www.sedar.com under the Company’s profile. Although the Company’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated , estimated or intended . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company undertakes no obligation to update any forward-looking statement, forward-looking information or financial outlook, which is incorporated herein by reference, except in accordance with applicable securities laws.
