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Quanergy Systems has demonstrated its S3 Series LiDAR technology, showcasing an impressive 130-meter detection range using Optical Phased Array (OPA) technology. The test successfully tracked challenging objects, indicating the sensor's effectiveness in real-world situations. With a target price of $500, the S3 Series aims for mass-market production, emphasizing its suitability for automotive and industrial applications. Quanergy is set to merge with CITIC Capital Acquisition Corp. (CCAC), with the transaction expected to close in Q4 2021, positioning the combined entity for future growth.
Quanergy Systems has appointed Karen Francis DeGolia as an independent board member and Jerry Allison as General Counsel, strengthening its leadership as it transitions to a public company. DeGolia brings extensive experience in corporate governance and the transportation sector, having held senior roles in various notable companies. This strategic move aims to align with NYSE board composition requirements as Quanergy prepares for a merger with CITIC Capital Acquisition Corp (CCAC), expected to close in Q4 2021, with the new company trading as QNGY on the NYSE.
