07.08.2007 10:30:00
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Intermap Technologies and the Slovak Hydro-Meteorological Institute Partner to Develop Windstorm Analysis Tool
Intermap Technologies™ Corp. has signed an
agreement with the Slovak Hydro-Meteorological Institute (SHMU) in
Bratislava for the cooperative development of a windstorm evaluation and
risk management tool that will complement the Company’s
existing risk management platform.
Intermap’s insurance risk management platform
includes a detailed flood risk map of the Slovak Republic that has been
successfully utilized by three major insurers in the Slovak Republic
since 2006. The partnership with SHMU will create a new product for the
insurance industry that evaluates and performs risk assessment of
windstorms. The windstorm risk layer will seamlessly integrate into the
existing risk management platform for the Slovak Republic. The entire
project is being conducted in cooperation with the Slovak Insurance
Association.
The last significant windstorm in the Slovak Republic in 2004 inflicted
serious damage over an area of more than 200 square kilometers. The
storm affected more than 5,000 people who were cut off from municipal
infrastructure and trapped within the damaged areas. Over 1,500 of those
affected were left without water supply, electricity, and sewage. It
took more than 9 months to repair major traffic corridors. Financial
losses directly attributed to the windstorm were estimated at
approximately 400 million dollars.
According to Dr. Manfred Krischke, Intermap’s
managing director and European vice president, "Our
agreement with SHMU will allow us to develop a high-quality windstorm
risk layer that will facilitate more precise risk assessment for the
planning of new housing and infrastructure developments. In addition,
the improved risk assessment created by this new layer will allow
insurance companies to better estimate potential losses caused by
windstorms, as well as enable more effective prevention planning,
reduced losses, and help shorten response times for rebuilding and
reconstruction.” About Intermap Technologies
Intermap (TSX:IMP)(AIM:IMAP) enables customers to facilitate better
decision-making and create applications for numerous commercial,
governmental, military, and consumer products through the purchase of
high-quality and affordable 3D geometric datasets. The Company is
proactively remapping entire countries and building unprecedented
national databases, called NEXTMap®,
consisting of highly accurate digital geometric maps that include
elevation data.
Demand for NEXTMap®
data is growing as new commercial applications are emerging, including
geographical information systems (GIS), engineering planning,
transportation, automotive, navigation, flood, irrigation, environmental
management and planning, telecommunications/wireless network planning,
aviation, simulation, and 3D visualization. Internet applications
include virtual tours, topographic maps, and computer games. Datasets
are also used to add interactive intelligence to airborne and satellite
imagery.
Headquartered in Denver, Colorado, Intermap employs more than 500 people
worldwide, with additional offices in Calgary, Detroit, Jakarta, London,
Munich, Ottawa, and Prague. For more information, visit www.Intermap.com.
Intermap Reader Advisory This news release contains certain forward-looking statements, which
include certain assumptions with respect to the future business and
operations of the Company. The reader is cautioned that assumptions used
in the preparation of such information may prove to be incorrect. All
such forward looking statements involve substantial known and unknown
risks and uncertainties, certain of which are beyond the Company’s
control. The Company’s actual results,
performance or achievements could differ materially from those expressed
in, or implied by, these forward-looking statements and, 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 the
Company or persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements. Furthermore, 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 included
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities laws. The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
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