The federal agency is conducting dam failure inundation studies to produce hydrologic and hydraulic reports for land management and establish emergency action plans. These studies, which are critical to planning and executing emergency response actions, require high-quality, consistent datasets across project locations. Intermap's proprietary digital terrain models (DTMs) provide high-resolution data of the Earth's surface and will be used to generate flood simulations in the event of a dam failure, as well as delineate dam watershed boundaries and calculate reservoir storage capacity.
Patrick A. Blott, Intermap's Chairman and CEO, said, "We are pleased Intermap has been named as a key partner for Arizona's dam inundation studies, which will leverage our leading DTM data, flood maps and models to illustrate the potential outcomes of downstream flooding. This new infrastructure project underscores Intermap's role as a partner-of-choice for federal agencies that depend on our terrain data to plan and execute projects quickly, efficiently and consistently."
Climate change is affecting the frequency and severity of flooding and drought. Many regions of the U.S. with hydropower include areas where river basins are projected to have the greatest risk of water scarcity by 2050 ( source). Heavy rainfall can cause severe flooding, damage dam infrastructure and endanger people living nearby, as seen by the collapse of two dams in Michigan in 2020, forcing thousands of people to evacuate ( source). Intermap's remote sensing and advanced technology are key parts of ongoing efforts to track water levels, flow vectors, and effective mitigation.
To learn more about Intermap's elevation data offerings, visit https://www.intermap.com/nextmap.
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", "will be", "will consider", "intends" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap's forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap's Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company's proprietary 3D NEXTMap® elevation datasets and value-added geospatial collection, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data. Intermap helps governments build authoritative geospatial datasets and provides solutions for base mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company's commercial applications include aviation and UAV flight planning, flood and wildfire insurance, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation. For more information, please visit www.intermap.com.
SOURCE Intermap Technologies Corporation
|Company Name: Intermap Technologies Corporation
Jennifer Bakken, Executive Vice President and CFO
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