Innoviz Expands Board of Directors with Global Technologies and Automotive Sector Veterans

The Freshly Appointed Board Customers Will Guidance Innoviz in Deploying its Automotive-Grade LiDAR Products Line

The Freshly Appointed Board Customers Will Guidance Innoviz in Deploying its Automotive-Grade LiDAR Products Line Globally and Accelerating Safe and sound and Ubiquitous Autonomous Car Adoption.

TEL AVIV, Israel, April 6, 2021 /PRNewswire/ — Innoviz Technologies Ltd. (Nasdaq: INVZ), a engineering chief of higher-efficiency, strong-state LiDAR sensors and perception application, declared nowadays that it has appointed Amichai Steimberg, Aharon Aharon, Dan Falk, Ronit Maor, Orit Stav and James Sheridan to its board of administrators effective nowadays. They be a part of existing board customers Omer Keilaf, Co-Founder and CEO of Innoviz, and Oren Rosenzweig, Co-Founder and Chief Company Officer of Innoviz. The new appointees deliver many years of working experience leading publicly traded organizations in the technological innovation and automotive sectors as government officers and members of boards of directors.

Innoviz Technologies Ltd. Board of Directors following the consummation of Innoviz's merger with Collective Growth Corporation

Innoviz Systems Ltd. Board of Directors adhering to the consummation of Innoviz’s merger with Collective Advancement Corporation

These appointments abide by the consummation of Innoviz’s merger with Collective Advancement Corporation (formerly Nasdaq: CGRO) on April 5, 2021.

The next presents data about the new appointees to Innoviz’s board of administrators:

  • Chairman of the Board: Amichai Steimberg, Former CEO of Orbotech Ltd.
    Mr. Steimberg beforehand served as President and Chief Operating Officer of Orbotech Ltd. from 2013 to 2019, and as Main Government Officer of Orbotech Ltd. from 2019 to 2020. Mr. Steimberg is the President and Main Working Officer of Israel Amplify Method Corp., and serves as a board member in a number of non-public businesses, like as Chairman of the Board of Administrators at Airovation Systems Ltd. From September 2020 to January 2021, Mr. Steimberg served as Chairman of the Board of Directors of Highcon Process Ltd., an Israeli organization listed on the Tel Aviv Stock Trade. Mr. Steimberg holds a BSc in Agricultural Economics and Company Administration from the Hebrew University in Jerusalem.

  • Aharon Aharon, CEO of Israel Innovation Authority
    Considering that 2017, Mr. Aharon has served as the Chief Executive Officer of the Israel Innovation Authority, an unbiased public entity that promotes Israel’s innovation ecosystem. Prior to that, Mr. Aharon served as the Company Vice President of Hardware Systems and Typical Manager of Apple Israel from 2011 to 2017, and as the CEO of Camero from 2004 to 2010 (at which time the organization was acquired). Mr. Aharon served as Chairman of the Board of Directors at Discretix Technologies from 2003 to 2010 (the organization was subsequently acquired by ARM in 2014) and as COO at Zoran, a NASDAQ traded organization from 1996 to 2001. Mr. Aharon retains a B.Sc in Pc Engineering and a M.Sc in Electrical Engineering from the Israel Institute of Technological know-how.

  • Ronit Maor, Main Financial Officer of Earnix Inc.
    Considering the fact that 2017, Ms. Maor has served as the Chief Monetary Officer of Earnix Inc., a top SaaS enterprise furnishing an AI-pushed pricing, rating and product or service personalization for insurance and banking prospects. Prior to becoming a member of Earnix Inc., Ms. Maor was the Main Economic Officer at Pontis, a top electronic consumer engagement enterprise, from 2012 until eventually its acquisition by Amdocs in 2016. Ms. Maor holds a BSc in Industrial Engineering and Management from the Tel Aviv University.

  • Dan Falk, Board Member at Wonderful Ltd. and Ormat Systems Inc.
    Mr. Falk has served as a member of the board of administrators of Nice Ltd., a Nasdaq-outlined organization, due to the fact 2001, and has served as a member of the board of administrators of Ormat Technologies Inc., a New York Inventory Trade-shown business, given that 2004. From 1999 to 2000, Mr. Falk was President and Main Working Officer of Sapiens Global Corporation N.V. From 1985 to 1999, Mr. Falk served in many positions in Orbotech Ltd., the final of which ended up Chief Monetary Officer and Government Vice President. Mr. Falk was also a member of the Board of Directors of Orbotech Ltd. Mr. Falk retains a Bachelor’s diploma in Economics and Political Science and a Master’s diploma in Small business Administration from the Hebrew College in Jerusalem.

  • Orit Stav, Seasoned Expenditure Supervisor
    Ms. Stav is a seasoned financial commitment manager with 20 several years of experience in the Engineering, Undertaking Capital, and Non-public Equity sectors. She presently serves as a member of the board of directors of Camtek Ltd., Doral Renewable Electrical power Resources Ltd., Hadasit Bio-holdings Ltd., YSB Group, HomeBioGaz, A.Luzon Actual Estate and Finance Ltd. and ORT Systems Ltd. Since 2015, Ms. Stav has served as a Managing Companion at Israel Innovation Associates. Prior to that, she assisted direct investments in organizations these kinds of as Siemens Undertaking Funds and Eva Ventures. Ms. Stav retains a Master of Organization Administration from Hertfordshire College, United kingdom, and a Bachelor’s degree in Arts (Economics and Management) from the Tel Aviv College.

  • James Sheridan, CEO of Perception Money Associates, SPAC Sponsor
    Mr. Sheridan is a senior operating govt with over 25 many years of practical experience and deep practical experience in the automotive market. He has working experience as equally an running executive (Main Procurement Officer) and as a leader of the Acquiring Follow at McKinsey. His prior ordeals include roles as CPO at Forterra, Senior Qualified at McKinsey, CPO at Winner, and a variety of roles with Ford Motor Corporation. Mr. Sheridan holds a B.A. from the School of the Holy Cross and M.B.A from Carnegie Mellon.

“We are thankful to have assembled an incredible assortment of specialists to serve on Innoviz’s board as we navigate by way of this following phase of growth,” claimed Omer Keilaf, Co-Founder and CEO of Innoviz. “Our crew has labored diligently to determine leaders in the technological innovation and automotive areas who are uniquely positioned to aid our transition to a community company and drive shareholder worth in the approach. We are hunting ahead to performing with this completed team and leveraging their experience as we continue on to push the boundaries of LiDAR and enter superior quantity sequence manufacturing.”

Amichai Steimberg, future Chairman of the Board, commented: “Innoviz has speedily earned its reputation as a worldwide chief in superior overall performance, automotive-quality LiDAR. Innoviz is pushing the autonomous car marketplace ahead in modern methods. I am confident this team of leaders will productively oversee the deployment of Innoviz’s LiDAR and notion software to BMW and other foremost auto producers in the close to phrase.”

About Innoviz Technologies
Innoviz is a main service provider of technological know-how that will put autonomous autos on streets, in the end switching the environment and earning life better. Innoviz is the only corporation with LiDAR technology that can “see” superior than a human driver, although also conference the automotive industry’s strict demands for effectiveness, security and price. Selected by BMW for its completely electric powered iX autonomous motor vehicle plan, Innoviz’s technologies will be the 1st to be deployed in customer autos. Innoviz is backed by leading-tier strategic companions and investors, such as SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Enterprise Companions, and some others. For additional details, take a look at www.innoviz.tech.

Forward Looking Statements
This announcement incorporates sure ahead-on the lookout statements inside the which means of the federal securities laws, which include statements regarding the positive aspects of the transaction, the companies supplied by Innoviz and the marketplaces in which it operates, and Innoviz’s projected long term effects. These forward-on the lookout statements usually are recognized by the words and phrases “believe that,” “task,” “anticipate,” “foresee,” “estimate,” “intend,” “strategy,” “foreseeable future,” “opportunity,” “approach,” “may possibly,” “ought to,” “will,” “would,” “will be,” “will proceed,” “will probable final result,” and similar expressions. Forward-searching statements are predictions, projections and other statements about long run functions that are based on present expectations and assumptions and, as a final result, are subject to dangers and uncertainties. Several factors could lead to actual long term gatherings to differ materially from the ahead-hunting statements in this announcement, such as but not confined to, the skill to put into practice small business designs, forecasts, and other expectations pursuing the transaction, the capacity to identify and recognize more possibilities, and opportunity modifications and developments in the very competitive LiDAR technological innovation and similar industries. The foregoing record of factors is not exhaustive. You should diligently contemplate the foregoing elements and the other challenges and uncertainties explained in the definitive proxy statement/prospectus submitted with the SEC on March 11, 2021 and other files filed by Innoviz from time to time with the SEC. These filings recognize and deal with other crucial pitfalls and uncertainties that could trigger true occasions and results to differ materially from people contained in the forward-wanting statements. Ahead-seeking statements converse only as of the day they are manufactured. Readers are cautioned not to set undue reliance on ahead-wanting statements, and Innoviz assumes no obligation and does not intend to update or revise these ahead-on the lookout statements, no matter whether as a consequence of new details, future events, or or else. Innoviz presents no assurance that it will reach its anticipations.

Contact Facts
[email protected]

Investor Get hold of
Maya Lustig
Innoviz Technologies
+972 54 677 8100
[email protected]

Gateway Investor Relations
Cody Slach or Matt Glover
(949) 574-3860
[email protected]

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