In the third quarter of 2007, Intermap announced AccuTerra™, a product that provides existing outdoor GPS and personal navigation device (PND) products with detailed maps, land coverage, digital terrain data, and off-road points-of-interest (POI). The Company has no plans to build a PND or GPS device; rather it will offer AccuTerra recreational content under license to manufacturers of these devices.
Intermap has entered into relationships with two GPS navigation OEMs, announcing in February 2008 an agreement to offer Magellan customers access to Intermap’s AccuTerra recreational content for two lines of Magellan GPS devices. AccuTerra will be available for purchase directly from the Magellan Web site. “Our customers can now transform their recreational experience with the most feature-rich map data available on the market today – all in one powerful device,” said Christian Bubenheim, vice president of product marketing for Magellan. Intermap has also announced a similar relationship with Bushnell Outdoor Products. Bushnell users will be able to access Intermap’s AccuTerra recreational map data for the contiguous 48 states and Hawaii.
Intermap is developing a 3D version of AccuTerra to allow users to visualize trails and other features in three dimensions. “We are excited about our new GPS relationships and optimistic about the increasing interest in our data,” said Mr. Bullock. “Market interest in AccuTerra has grown rapidly and Intermap is in discussions with other GPS and PND manufacturers that are active or looking to enter the recreation segment. We believe the evolution of GPS and PNDs to 3D will improve the user experience for off-road enthusiasts, hikers, hunters, fisherman, skiers, and mountaineers. We’re seeing a rapid increase in 3D visualization development that is driving consumer awareness and market adoption.”
Insurance Risk Management
Intermap is developing flood risk models in European countries following the success of flood modeling applications pioneered in Great Britain. The Company has partnered with SwissRe for use of their flood modeling algorithms and for quality assurance support for all of Europe.
Insurance companies can use NEXTMap’s superior insurance risk information to better define possible risks. The result can be more effective portfolio management and a net reduction of annual costs through a reduced need for reinsurance coverage and lower payouts after flood events. Intermap is also in discussions with U.S. insurers for commercial insurance applications.
Advanced Driver Assistance Systems (ADAS)
To enable automotive safety applications, Intermap is creating road centerlines for all classes of roads in the U.S. and Europe. The Company has demonstrator agreements with several industry partners in support of emerging Intelligent Transportation Systems (ITS) applications using Intermap's 3D road vectors derived from its NEXTMap database. Accurate road vectors enable an automobile’s electronic system to anticipate the road ahead, providing an input to visualization, performance, and other advanced driver assistance applications.
A significant amount of the fuel expense in the heavy trucking industry is attributed to changes in road slope. The Company’s 3D road vector data is enabling the design of systems to manage optimal vehicle speed and gear selection designed to improve fuel economy and reduce operating costs.
Detailed financial results for the quarter and management’s discussion and analysis can be found on SEDAR at: www.sedar.com.
Annual Meeting Reminder
Intermap extends an invitation to shareholders and members of the investment community to attend its Annual Meeting on May 13, 2008, at 11:00 a.m. MDT, in the Westwinds Conference Room (Second Floor) #1200, 555 - 4th Avenue S.W., in Calgary, Alberta. An electronic version of the Company's 2007 annual filings can be found on www.sedar.com.
Conference Call May 9, 2008 at 10:00 a.m. EDT (8:00 a.m. MDT)
Intermap will host a conference call on May 9, 2008 at 10:00 a.m. EDT (8 a.m. MDT, 3 p.m. GMT). To participate in the call, please dial 416-695-5259 or 1-800-952-6845 approximately 10 minutes prior to the conference call. A recording of the conference call will be available through May 16, 2008. Please dial 416-695-5800 or 1-800-408-3053 and provide the password 3261072 to listen to the rebroadcast.
About Intermap Technologies
Intermap (TSX:IMP.TO)(AIM:IMAP.L) is a preeminent digital mapping
company creating uniform high-resolution 3D digital models of the earth’s
surface. The Company is proactively remapping entire countries and
building uniform national databases, called NEXTMap®,
consisting of affordably priced elevation data and geometric images of
unprecedented accuracy. Demand for NEXTMap data is growing as new
commercial applications emerge within the GIS, engineering, automotive,
personal navigation device, insurance risk assessment, oil and gas,
hydrology, environmental planning, wireless communications,
transportation, aviation and 3D visualization markets.