Quanergy Completes Chapter 11 Sale

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SUNNYVALE, Calif., March 2, 2023 — A group of investors that includes former Quanergy Systems Inc. board member Tamer Hassanein is the winning bidder of the assets of lidar technology company Quanergy, as awarded in an auction administered by the U.S. Bankruptcy Court for the District of Delaware. Quanergy will remain a provider of lidar sensors and smart 3D solutions targeted for applications in physical security, smart spaces/smart cities, and industrial automation.

Quanergy filed for protection under Chapter 11 of the U.S. Bankruptcy Code in December 2022. The company has continued operations through the process.

Published: March 2023
Lidar, short for light detection and ranging, is a remote sensing technology that uses laser light to measure distances and generate precise, three-dimensional information about the shape and characteristics of objects and surfaces. Lidar systems typically consist of a laser scanner, a GPS receiver, and an inertial measurement unit (IMU), all integrated into a single system. Here is how lidar works: Laser emission: A laser emits laser pulses, often in the form of rapid and repetitive laser...
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