Intermap Announces $1 Million Program in Malaysia and Business Updates

Continuing long-term work with the Malaysian government

First payment received and deployment begun for the Indonesian mapping program

2024 year-to-date insurance awards reach $1 million, on track for record year

DENVER, March 25, 2024 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced a $1 million program in Malaysia, an update on its Indonesian mapping program and strong growth in its global insurance business.

Enhancing Water Resources Management in Malaysia

Intermap won a $1 million contract in Malaysia to enhance water resources management. This award exemplifies how Intermap’s geospatial technology, which incorporates advanced AI/ML-driven automation, is used to commercialize evolving solutions to environmental challenges. By helping the Malaysian government exploit its investment in national geospatial infrastructure, Intermap is extending the value and versatility of Malaysia’s new Intermap-created IFSAR data archive, which is applicable for governments across the region. Leveraging IRIS^TM technology and application layers to update currency and rapidly integrate tailored hydrological datasets, including rivers, canals and drainages, stakeholders gain unprecedented insights into the complex dynamics of water flow, terrain morphology and flood risk assessment. Intermap has earned more than $15 million under Malaysia’s current basemap program and expects awards to continue as post-COVID budgets reallocate discretionary resources back towards these urgent strategic requirements.

“Our partnership with the Malaysian government and business community underscores Intermap’s commitment to leveraging our unique technology to address critical environmental challenges,” said Patrick A. Blott, Intermap Chairman and CEO. “This represents a further endorsement of our business model, which leverages our application layers to provide actionable data as a service, enabling governments to commercialize their investments across new use cases.”

One of the key advantages of Intermap’s DEMs lies in their dynamic nature, where they are continually updated through multiple source inputs. Our elevation models are regularly updated using patented AI/ML-driven processes to reflect real-time changes in terrain and land cover, ensuring decision makers have access to the most accurate and current information for informed planning and response efforts. Recognizing the importance of capacity building, Intermap and its local partner, Antaragrafik Solutions Sdn Bhd, will provide comprehensive training sessions to key government officials involved in remote sensing, mapping and water resources management. These tailored programs aim to equip participants with the necessary skills and knowledge to effectively utilize the new and improved geospatial resources in their decision-making processes.