Intermap Technologies (TSX: IMP) ( OTCQX: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial data and intelligence solutions, today announced a new contract with a major solar energy company to provide NEXTMap® elevation data as a service and analytics to support solar farm planning and site assessment. Intermap’s solution saves renewable energy companies significant time and resources.
Intermap’s elevation data as a service business model is scalable to meet the specific needs of customers. The Company developed custom slope analytics to the solar energy company’s specific requirements. It rapidly provides detailed information about the steepness of the terrain for site assessments, visualization and planning. This type of analysis typically happens in the preliminary stages of planning so organizations can focus on the most promising sites. Once solar sites are prioritized, survey teams deploy drones and other equipment to evaluate and model the locations further. A major benefit is the reduction of these more costly and time-consuming surveys. Clients can access the elevation data and analytics they need without purchasing the elevation models, resulting in a cost-effective solution that can be used by non-geospatial experts.
“We are excited to provide solar energy companies with cutting-edge elevation data and analytics to support solar projects around the world,” said Patrick A. Blott, Intermap’s Chairman and CEO. “Intermap’s easily accessible geospatial data and analytics make it simple for solar energy companies to manage multiple projects and save time and money associated with sending ground crews in the early stages of planning.”
Today’s newest subscription reflects Intermap’s continued expansion into the renewable energy market where its NEXTMap elevation data and analytics meet the growing demand for solar energy. The global solar power market is expected to grow from $184.03 billion in 2021 to $293.18 billion in 2028 at a CAGR of 6.9% (Source). The growth in demand for solar energy is driven by environmental urgency and incentives set forth by governments to help reduce carbon emissions. Intermap’s global data coverage enables energy companies to expand operations to meet the growing renewable energy demand while maintaining confidence that the data will provide accurate and consistent results anywhere in the world.
Recent wins with other major renewable energy companies show the growing demand for Intermap’s unique capabilities in providing the necessary tools for renewable energy planning and climate resilience projects. The Company is building recurring revenue at a high margin with a focus on elevation data as a service and analytics to meet the global demand for clean energy.
This new contract includes access to Intermap’s NEXTMap elevation data and custom slope analytics, enabling the client to assess viability, evaluate canopy heights and perform cut-fill analysis in the preliminary planning stages of proposed solar projects.
To learn more about Intermap’s elevation data and analytics for renewable energy, visit www.intermap.com/renewable-energy