Autonomous Trucking: Daimler Truck subsidiary Torc reaches agreement to acquire Algolux for AI-based self-driving perception
Blacksburg,
VA, USA / Leinfelden-Echterdingen, Germany/ Portland, Ore., USA – Torc
Robotics, an independent subsidiary of Daimler Truck AG and a pioneer in
commercializing self-driving vehicle technology, recently announced that it has
signed an agreement to acquire Algolux Inc. Torc is acquiring Algolux for its
award-winning intellectual property and expertise in the areas of computer
vision and machine learning.
“On the
path to commercialization of our autonomous-ready Freightliner Cascadia, with
Torc’s virtual driver, we never stop improving safety. We are convinced that
Algolux with its perception capabilities can bring us one step closer to reach
our goal to safely and reliably bring SAE Level 4 autonomous trucks into series
production in the USA within this decade”, says Joanna Buttler, Head of
Autonomous Technology Group at Daimler Truck AG.
“We’re
thrilled to welcome Algolux to the Torc family,” says Peter Vaughan Schmidt,
Torc CEO. “Algolux’s technology, at the intersection of deep learning, computer
vision, and computational imaging, will help Torc strengthen key capabilities
toward our commercialization of Level 4 autonomous trucking.”
"Torc
shares in our commitment to create robust technology to realize the potential
of autonomy and help save lives, which is one of the many reasons why joining
forces makes sense for our teams,” says Allan Benchetrit, Algolux president and
CEO. "Algolux’s established team with deep expertise in Artificial Intelligence/Machine
Learning (AI/ML) talent and perception complements Torc’s already experienced
engineering team.”
Algolux has been consistently recognized for
excellence in its field and has been named to the 2021 CB Insights AI 100 List
of the world’s most innovative artificial intelligence startups. Torc has been
working closely with the company for over a year on multiple perception
concepts and methods for robustly improving object detection and distance
estimation, while evaluating synergies between the two companies. Robust
perception technology is key to helping Torc's autonomous system correctly
identify objects in difficult visual conditions such as low light, fog, or
inclement weather. Algolux software is currently operating on initial
Freightliner Cascadia test vehicles in the U.S. and is being included in areas
of Torc's software development efforts.
“This
acquisition brings together Algolux’s end-to-end AI stack, from photons to
behavior, with Torc’s pioneering autonomous technology. Add in a tightly
integrated OEM truck platform and you have a dream scenario,” said Felix Heide,
Algolux CTO. “While many think of autonomous transportation as futuristic, this
winning combination will help bring to market a commercially viable,
safety-critical long- haul trucking application at scale.”
Algolux is headquartered in Montreal, Canada,
with offices in Palo Alto, CA, and Munich, Germany. The transaction will close
after the parties complete various pre-closing activities, including any
required approvals.
AboutTorcRobotics
TorcRobotics,headquarteredinBlacksburg,Virginia,isanindependentsubsidiaryofDaimlerTruckAG, a global leader and pioneer in trucking. Founded in 2005 at the
birth of the self-driving vehicle revolution, Torc has 17 years of experience
in pioneering safety-critical, self-driving applications. Torc offers a
complete self-driving vehicle software and integration solution and is
currently focusing on commercializingautonomoustrucksforlong-haulapplicationsintheU.S.Torcoperatestestfacilitiesin Albuquerque, New Mexico, and
engineering offices in Austin, Texas, and Stuttgart, Germany. Torc’s mission is
saving lives with autonomous technology, which incorporates reducing highway
deaths, enabling critical supplies – including medicines and foods – to reach
every community in a timely manner, and helping the transportation industry
increase fuel economy, uptime, and capacity.
