thermal infrared sensor technology
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Thermal Infrared Sensor Technologyfor Driver Safety and Autonomous Vehicles
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The Future of Thermal Imaging
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OVERVIEWCORPORATE OVERVIEWA NEW PARADIGM IN THERMAL IMAGING
A paradigm shift for capturing infrared signals
∙ Our multi-spectral IR camera can see both mid and far infrared
Must have for every autonomous vehicle
∙ A solution which complements other modalities and provides complete safety data
Significant Competitive Advantages
∙ 60-90% lower cost; higher resolution
$10+ billion annual TAM
∙ Markets growing at 20% CAGR
Intellectual property
∙ Key patents already issued with large worldwide patent platform
Attractive business model
∙ Licensing model provides attractive cash flow dynamics
Short time to market
∙ Technology is proven; with funding we can ship in 12 months
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OVERVIEWFOUR FUNDAMENTAL BREAKTHROUGHS
INNOVATION
DUAL SPECTRUM IMAGER
SIGNIFICANCE
One pixel that can see both mid IR and far IR
QUAD SPECTRUM CAMERA
SIGNIFICANCE
One camera that can integrate two imagers and see visible, near IR, mid IR and far IR
ULTRA WIDE SPECTRUM LENS
SIGNIFICANCE
One lens that can see in all parts of the light spectrum from visible through far IR
∙ Dual spectrum pixel (Mid IR and Far IR)
∙ Two imagers provide quad spectrum capability
∙ Ultra wide spectrum lens complements imager
∙ Pixel has been fabricated and successfully tested
∙ Curved imager is a key achievement
CURVED IMAGER
SIGNIFICANCE
Considered the holy grail in imaging, a curved imager mimics nature and our eyes. Due to our design, we are uniquely capable of achieving this industry first. It solves temporal and chromatic distortion of conventional lenses
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OVERVIEWMARKET OPPORTUNITY$10+ Billion annual opportunity
250
300
350
400
450
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
AUTOMOTIVE SENSOR MODULE MARKET
IN M
ILL
ION
S
Source: Visiongain
Active Sensor Safety Market*
2025
$6 Billion
2018
$25 Billion
23% CAGR
*Source: Autoliv
Key Market Drivers
∙ Increased content per vehicle
∙ Penetration as a standard vehicle safety feature
∙ Adoption by autonomous vehicles
AUTONOMOUS VEHICLE MARKET SHIPMENTS
*Source: Counterpoint
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OVERVIEWCOMPETITIVE ADVANTAGE
DIGITAL DIRECT QUANTUM WELL
Heat
Feature Size 2,000 nano-meters: easy to build 25 nano-meters: requires expensive fabrication processes
Cost of Imager Core Core costs less than 50% of competition Very expensive
Signal Noise All Direct-to-digital for ROIC Noisy analog to digital conversion and analog ROIC
Spectrum Mid and far IR Mid or Far only, not both
Background Innovative new design Based on 40 year old technology
Fabrication Easy: MEMS simply fabricated architecture Multi-level complex architecture expensive to fabricate
Aspect Ratio Customizable as needed for application Fixed
Signal Loss 0-3% as the system is all digital 10-30% as system is mixed analog and digital
# of Lens Elements 1 with patented curved substrate 3-6 to correct for chromatic and temporal aberrations
Quad Spectrum Capable Yes, with our patented optical system No
Spherical Aberration No Yes
Single Optical Centerline Yes, for multi-spectral imaging No
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OVERVIEWMARKET LANDSCAPELiDAR is a crowded field…
LIDARINFRARED
Valuation
Functionality
Valuation
Functionality
QUANERGY
BlackMore
(Aurora)
OUSTER
BlickfeldRoboSense
Optech
Capital Markets ActivityCompany Type Valuation Buyer Velodyne SPAC $3 billionLuminar SPAC $3 billionBlackmore M&A $230 mm AuroraInnoluce M&A N/A Infineon
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OVERVIEWINFRARED IS A CRITICAL COMPONENT
∙ To achieve Level 5, autonomous vehicles will need to integrate every sensor modality
∙ Every sensor has certain conditions where it doesn’t work
∙ Thermal IR imaging fills the gaps to complete the needed situation awareness
CMOS Camera LIDAR RADARD2IR
Thermal
Thermal Imaging is the Missing Link to Complete Situation Awareness for Autonomous Vehicle Safety (ADAS)
Strengths:• Ability to see color
difference like traffic lights etc.
Weaknesses:• Cannot operate in darkness,
glare, snow, fog, heavy rain, etc.
Strengths:• Quick 3D imaging
Weaknesses:• Unable to see color• Poor performance in snow
fog and smoke
Contrast Resolution
Living Objects
3DReconstruction
Speed
Range
Color
Strengths:• Easily Recognizes Living Objects• Excellent Range• Works in darkness, smoke, fog
and rain
Weaknesses:• Unable to see visible light
Strengths:• Capable of easily judging
speed and operates in any condition
Weaknesses:• Cannot detect if objects are
alive• Cannot determine contrast• Cannot see color
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OVERVIEWOUR VALUE PROPOSITIONOptimized aspect ratio and patented peripheral computation approach
Legacy Products
Legacy products repurpose the frame from existingcameras. Traditional 4x3 aspect ratios look horizontal aswell as up/down.
DDIR can customize the camera’s aspect ratio for thedesired application, allowing best possible situationawareness. The optimal aspect ratio for an automobile is16x4.
Our system maximizes computational power in the core areas and recognizes data in the periphery.
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OVERVIEWMARKETING AND DISTRIBTUTION STRATEGY
$6 Billion
License to a Tier One automotive supplier
Automotive
Healthcare
Licensed to a Tier One automotive supplier in return for milestone payments, royalties and equity
Use third party manufacturing partners, distributors and integrators
Safety, Security & First Responder
License to a prime contractor
Military
Use of third-party licensees and distributors will accelerate growth and minimize sales costs
POTENTIAL PARTNERS BY INDUSTRY
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OVERVIEWPROVEN TECHNOLOGYTESTING HAS CONFIRMED THAT OUR PIXEL WORKS
∙ Our design has two key components: (i) the absorber nano
metal layers and (ii) the piezo resonator
∙ We have done extensive COMSOL modeling successfully
∙ The absorber reacts to the expansion of heated metals
which stress the resonator causing a change of resonator output
∙ Our uncooled device should approach the functionality of
cooled devices
∙ We have a working prototype of the pixel
Our approach is a completely new paradigm in
thermal imaging with new capabilities previously
unavailable in all other IR technologies.
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OVERVIEWINTELLECTUAL PROPERTYOUR IP IS SOLIDLY PROTECTED
∙ 12 Patents filed or issued
∙ More patents being prepared
∙ Three families of patents
∙ Multiple strategies for extensions
We have been awarded the key patents on a
worldwide basis. Our three families of patents
provide a moat around our technology.
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OVERVIEWDEVELOPMENT PATH
HIGHLIGHTS
2018 2022202120202019
COMSOL Modelling
Key patent filings & angel funding
Pixel prototypecomplete
Licensedhealthcareapplications
OptimizeFocal planeROIC
$3 mm fundingBuild team
Automotive licensing partner
Initial camera sales
Ramp production in security and first responder
License to military
∙ 3 Months to optimize pixel
∙ First product in market in 12-14 months post funding
∙ Company was breakeven in 2020
Pixel test successful
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TEAM
PETER KAUFMANFOUNDER AND CTO
SCIENTIFIC TEAM
TED STONECFO
STEVE VAN FLEETCOO
DR. NM RAVINDRAMATERIAL SCIENTIST DR. BRIAN JAMIESON
PHYSICIST
DR. MARVIN HUTTOPTICAL PHYSICIST
DR. TROY OLSSEN SEMICONDUCTOR SCIENTIST
ADVISORY BOARD
GIB DUNHAM, CFAFINANCIAL ADVISOR
FRANK DEROSAIP ATTORNEY
Frommer Lawrence & Haug LLP
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OVERVIEWFINANCIAL FORECAST$10+ BILLION ANNUAL OPPORTUNITY
∙ First revenue was in 2019
∙ Breakeven in 2020
∙ Goal is for $500k license fees in 2021
∙ High margins due to licensing
∙ Milestone and royalty revenue
∙ Attractive free cash flow
∙ Model has no revenue for first responders, SIDS or
military
∙ Camera revenues within 15 months of funding
∙ We expect first automotive order to be $200 million+
∙ D2IR has already licensed healthcare applications
In M
illio
ns
In Millions
-$5.0
$5.0
$15.0
$25.0
$35.0
$45.0
$55.0
$65.0
$75.0
2020 2021 2022 2023
Revenue EBITDA
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OVERVIEWOTHER VERTICALS$10+ Billion annual opportunity
HEALTHCARE
pixels
∙ Ring array camera
∙ Patent awarded
∙ Used in swallowable pill camera
∙ Licensed in Q1 2020
HOMELAND SECURITY/MILITARY
∙ Combat awareness
∙ Our unit is low power & high resolution
∙ Letter of interest from one of the large
primes
SAFETY AND SECURITY / FIRST RESPONDERS
∙ Large commercial and municipal market
∙ We have identified key distributors
∙ Very few have thermal capabilities
ENVIRONMENTAL AND INDUSTRIAL
∙ Large market
∙ Little penetration
∙ Substantial environmental impact
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OVERVIEWCONTACT INFORMATION
Investor Information:
Gib Dunham
Advisor
(917) 716-4084
Technical Information:
Peter Kaufman
President, CTO,
Founder
(718) 445-0038