Canaan Announces Partnership with Cathay to Launch AI Facial Recognition Module and AI Chip in Japan

BEIJING, April 23, 2021 (GLOBE NEWSWIRE) -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has entered into a partnership (the “Partnership”) with Cathay Tri-Tech., Inc. (“Cathey”) to introduce its AI facial recognition module, which utilizes its Kendryte K210 AI chip, to the Japanese market. Since establishing the partnership, Canaan’s international customer base now covers the United States, Japan, South Korea, Germany, Israel, and other countries across the globe.

Founded in 1993 and headquartered in Japan, Cathay has been involved in the development, design, manufacturing, and production of embedded software and products for mobile communications terminals and Internet of Things (“IoT”) M2M (“Machine-to-Machine”) devices, including cloud servers.

Canaan’s AI facial recognition module uses the Company’s self-developed Kendryte K210 AI chip, which was designed specifically for processing machine vision tasks, such as facial and image recognition, as well as different areas of audio processing. Due to its small size and low power consumption, Canaan’s AI facial recognition module maintains a variety of application scenarios, including facial recognition vending machines, smart access controls, smart door locks, and elevator control systems. The Company’s Kendryte K210 AI chip and AI facial recognition module will be the first edge computing, C-series of AI products sold by Cathay. To develop the C-series edge computing AI products, Cathay will provide EVB evaluation boards, SDKs, and reference circuit designs.

Canaan will explore new application scenarios for its AI solutions through its collaborations with Cathay. Conscious of developer challenges, Canaan has provided developers with a wide array of tools to ensure that its AI facial recognition module can be adapted for a large number of application scenarios. In addition, Cathay plans to utilize Canaan’s AI facial recognition module and its existing IoT product line to develop an Artificial Intelligence of Things (“AIoT”) product line. As such, Cathay will continue to provide high-value products and services alongside its SIMCom communications module.