Quanergy Speaks On Future After Chapter 11 Sale
Quanergy is shifting its primary focus to the security industry after filing for bankruptcy protection and selling itself to a group of investors.
The company's new CEO Enzo Signore, who was formerly its CMO, talked with IPVM to explain Quanergy's plans for the future and how it will handle challenges in the LIDAR sector.
In this note, we examine Quanergy's strategy, investor sentiment about LIDAR, and the outlook for the company going forward.
Security "***********"
***** *******, ******** ** ******** ** *********** on ***** ***** *******: ********, "***** spaces," *** ********** **********. ******* ****** security, ** **********, *** "*********** ** our ********."
*** ******* *** ** ******** ******** base ** **** *****. * ****** over * **** ***** ****** *** bankruptcy ********** ** ***. **, ****, Quanergy************* **** **** ** ********* *** signed ** ** *** *** ***** security ******** ** ******* "**** *** critical ************** *****." ***** ***** ******* data *******, ****** ***********, *********, ******* and *** *** *** **********, ******* told ****.
**********,**** ******* ** ********* ********** ** ** ** ******** ******* animals, ******, *******, ** ***** ****** triggering ***** ******. *******, *** ***** was *******, *** ***** *** ***** complex *** *** ***** *** ************* more *********, ****** *-** *** **** of ******** *******.
******* **** *** ****** ********** ** not ******* ***** *** *** **** of ** ******** ******, *** ****** between ***** *** *** **** ** "false ******." ******* ********* **** *** LIDAR ******** *********** ****** **** ******** other ******** ************ *** *** ***** total ******** ***** *****.
**'** *** ********* ******* ** *** security ******. **'** *** ********* *********. We *** ********* ***** ******. ** the **** **** *** **** ** compare ** **** ** *** **** of *** ***** *****.
** ***** **** ***** ****** *** be ******* "** **** **%" **** Quanergy's *****.
**** ** *** ** **** *** have ***** ******? *** **** ******, guard ********, **** ** ******* ***** alarm *** ** ***. ** *** actually **** ****** **** *** *** manually ********** *** ***** ******, *** that's *** **** *** ************ ** bearing. ** *** *** *********** *** false ***** ** **** * *** level **** *** **** ** *** guards *** ** ******* ************.
***** ***** ** ******* *** ******** high-level ****** ** *******, ******** ** obstacle ** ********** ********, ******* **** the ******* ** ******** ** ***"***** *** *******" *** ***** ************ ***** ** **** **** ******* deploy *** *********. ******-****, *** ******* "started ******* ** **** ** **** a '******** *** ** *** ***' experience," ******* ****.
*******, ***** ********* *** ******** ************* over *** **** *** *****, ** advances ** ****** ********, ****, ***. reduce ***** ****** ************* ** ****, but *** *** ********* (********* ********* ******** **** - ** Manufacturers, ** *********).
"Smart ******," ********** **********
******** ** **** ******** ** *** other *** *******: "***** ******" *** industrial **********.
** *** "***** ******" ******, ******** provides ***** ********* **** ****** ******** people ******** *** **** ********** *** retail ******, ********, *** ****** **************.
*** ******* **** ***** ************** *** government ************* ******* *** ******** ** vehicles ** ************* *** ** ******** and ****** ** ***** ******. **** can ** **** ** ******** ********* and ******** ********** ******, ***** ***** important *********, ********* ** **********'* *******.
************, ******** ** *** "******** ************* ********** ******," ******* **** ****. ***** ******* can **** ****** ******* ******* ********** tasks, *********, ** ********* ********** **** efficiently **** ***** *******.
Away **** ****-******* ****
*** ***** ***** *** ******** ****-****: The ******* ** ** ****** ******** on *** ********** ********** ******. **********, the ********* *** ***** *** ********** driving **** ** ******** ********. *** more ********, ****-******* **** **** ****** out ** ******** ***** ** ********* for **** **** **** ** ************ viable ****** ******* **** *** ******, Signore ****. ** *********:
***** *** **********, ***** *** ****** adoption, *** ***** *** *** **** requirement, ***** ** ** ********** ** the ****** ***** **** ** **** enough *** ********** **********. ** ***, people *** ******* ***** ****, ****, 2050. *** ** *****'* **** ***** to ******** ********* **** *** ****** and ****** *****. *** ** ** have ************* ******* *** ** **** in *** ********** ******* *** ******.
** ***** **** *** ******* **** does *** ****** ** "**** ********* in *** ***** ***** *******," ********* to *** *** ***** ***** **********. This ***** ** * ***** ****** for ********, ***** ***** ** **** by ******** ********* ** *****-***** ***** and *** ****-******* ******* ******.
Financials ***********
*** *****, *******, ** **** ***** is * ****-**** ********, *** ******* from ***-********** ******** ** ***** *******. In *** ***** ******* ** ****, Quanergy*********** ***** ** $*.* ******* ****** operating ******** ** $**.* *******.
Starting ****
******** ***** *** **** **** ** common **** *** ******* ***** **** when ** ******* * **** ****** value ** $*.* ******* ** ******** 2022, ***** ***** ********* ** * SPAC *** ********* ** ***** ** the *** **** ***** ********.
***** *** ********** ******* ******** ** an ******** ***** ***** ******** ***** Vine, * ****** ******** ******** ********* ******* **********-****, *** ***** ********* ********* ******** Quanergy ***** *********** *********, ******** ******** **** ** *** previous ********** ****, ********* ** *******. He ******** ** ******* *** **** employees *** ******* *** *********, ****** he ***** "**'** ****** ***** ***."
***** *** ******** *********, ******** ** a ********** ***** ** ***. *, 2023, *** ***** **** $*.* ******* for ********'* ****** *** ****** ** take ** **** ** *** *****. IPVM ******* **** ********'* ****-*** ******* were ******** **** *** *********' ********* would ** ********** ** ** ***. 7, ****.
***** *** ******* ******* ** *** staff, ** **** "** ********* **** and **** **** ******* ********" ** it *** "***** **** **** ***********," Signore ****. ** ***** **** *** company ** **** ******* ** ******* additional *******, *** ** ******* ** remain *******.
LIDAR ****** **********
******* ********** ** ***** **** *** factor ***** ** ******** ** *** bankruptcy. ******* **** * ***** ***** on ****-******* **** ** * ********* block *** **** *********. ******** ** well-positioned ** ******** **** ********* *** stand *** **** *** *********** ******* it *** "******* * *******-****** ***," he ****. ** *********:
*** ******* ** ****, *** ******* is ********* ** *** ******, ** know *** ** **** **. *** gross ******* *** ********, **** ********...***** LIDAR ******* *** ****** *** ********* but **** *** ** *** ***** behind ******** ** ***** ** *** maturity ** *** ******** *** *** ecosystem. ** ** ******* *** ***********, but ** * *********, ** **** expand *** ****** *** *********. *** in ***** ** ******* ********, **'* truly ********* ** *** ********** ****, on *** ********** ****, *** **'* about ********* ** ******** *** ******** to ******.
Outlook ***********
** ******* ******** **** ** ********** to **** **** * $** ******* annual ******** ** *** ******** ****** unless ** *** ************* ******* *** competitive ***********. ***** *********, * ********** for ******** *****, *** ******** ************* and ********* ** *******. **** ****** Quanergy ** * ***** *** ******** infrastructure ************ **** *** ****** ***** LIDAR's ******** *** ******** ********** ********** to ******** *** *** ****** ******. To *** ****** **** ******** *** gain *********** *** ********** *** *** that ** ****** *** **** *** complexity ** *** ********, *** *********** will ******* ****** ********* ****** *** of ******* ** ***** **** ********** doing **.
***** **** * ********* **** *** most ******** ************, **** **** * remember *** ********* **** ***** *******. Not **** **'* ******** ** * technological *****, *** ** **** ***** increase ***** ******** ** ****-*****, **** could ***** ********* **** ****** ***** their *********** ***** ** **** **** acceptable.
** *** ********, *** ********* **** a *** **** ***** **** ******** on. ** ***** *** ****** ** diameter *** ** **** ******* ********** sensing *** ***** ********** ** *** with ********** ********.(*** **** ****)** **** ********* **** ***** ************* of ***** ********* ** ***** ******** and **** **** ****** **** ** that **** ** ***** ** ******** in *********** ******* *** ******** ******* ranges ** ****'* ** ****** ** kilometers ** *** * ***** ***. Our **'* **** ******** ******** ** a ******** ****** ** ***** *** one ********** *** ***** *** ********. Bringing ******** *** **** ** ***** and ******** ******* ************ ** ****** going ** ******* *** **** ******* to ***** *******. *** ********* ********* with *** ****** **** ***** ** effective ****** **** *** ***** **** its *********** ***** **** ********** ******** on ******** ******.
**** ***** *** *** ******** ***** own * ***** **** ** ******** as *** **** ** ******* ******* mentions * *** ****** ***?******* ********* ******* ***** ****** ******* Secretive **** ** *** ******* - WSJ**** *****?