New Product of the Year Award…More Industry Recognition

Each year, Security Today presents awards for the best new products across a variety of categories. The winners are chosen by an independent group of experts. For 2021, I am proud to say, Evolv has been named as the 2021 New Product of the Year in the Pedestrian Security Entrances category. 

This is yet another important industry-wide recognition of our mission to create a safer world and set a new standard for physical security in the 21st century. Evolv Express® is the first and only weapons detection security screening system powered by advanced sensors and artificial intelligence to deliver a safer, fast, and friction-free experience for patrons. 

When you think about the category in which we were selected, Pedestrian Security Entrances, the first images that probably come to mind are metal detectors—and the long lines and laborious processes of patrons pulling out their phones, emptying their pockets, and walking one at a time through a threshold that is obtrusive and not at all welcoming. As we still grapple with a global pandemic, these images seem not only incongruous and out of touch; they’re frankly a security threat. 

Unfortunately, this outdated 20th-century metal detection technology has been the standard for Pedestrian Security Entrances for a long time—not because it is particularly effective, but because developing a better, modern replacement based on advanced software and digital technology has not been an easy task.  And being able to meet the standards of the professionals we work with using artificial intelligence and advanced sensors to detect weapons, took herculean efforts. The product works. That’s easy to say but difficult to back. We can. 

And now, more than ever, we need it. There were 452 mass shootings in the U.S. to date in 2021, according to the gun violence archive, surpassing 417 in all of 2019.  More venues and employers that never considered security screening technology are looking for solutions.  Airport and prison security is not the answer for the performing arts, casinos, schools, tourist sites, and places of worship.   

We’ve done the work, put in the time, collaborated with the best security professionals in the business (our customers) and we have built and delivered a new standard for weapons detection in the digital age. Not only can visitors walk right through at the pace of life, but they are better protected, and security professionals can redeploy their efforts to more pressing security concerns vs invasive bag checks.  

It is an honor to see our work and our vision capture the attention of industry leaders such as Security Today and its readers. As Security Today noted, their New Product of the Year Award “honors the outstanding product development achievements of the security equipment manufacturers whose products are considered to be particularly noteworthy in their ability to improve security.” 

Congratulations are in order to our dedicated team of engineers, who live their mission daily by transforming security to enhance everyone’s life. One more notable step on our journey to make the world a safer place to live, work, and play.   

Communicating Our Mission to Wall Street and the World

Opportunities don’t come along very often to join a company that is setting a new standard for its industry. Rarer still is a company whose mission is devoted to making people safer as they go about living their daily lives. As the new Vice President of Investor Relations for Evolv, it feels as if I am coming on at an important flex point in the company’s development.

We have just completed our initial public offering and are now listed on NASDAQ as “EVLV.” We have an opportunity to be more visible and to invest in doing the things necessary to take the company to the next level. You can feel the energy of the company, and the excitement, just by talking to our people and to our customers. We hope to generate the same enthusiasm and passion among our investors.

One of my most important roles is to make sure we are accurately communicating to Wall Street and the investment community the fundamentals of what we are doing, how we are doing and, in a broader sense, why we are doing it. That “why are doing it” aspect comes down to the mission and, frankly, that is one of the main reasons why I am here.

I am a mission-focused person, whether it’s working with the Boy Scouts of America, the Boston Chapter of the National Investor Relations Institute or every job I’ve ever had during my 20-plus-years as a leader of finance-driven investor relations programs for ground-breaking, category-leading technology companies. One of the first things that resonated with me when I spoke to the management team at Evolv is that this is a company that is doing truly important work.

These days, unfortunately, it is hard not to think about safety when entering an arena for a sporting event or a concert hall or, really, just about any venue where people gather. When you get in line at the metal detector to get inside, or hand your phone to a security guard, or put your valuables in a plastic container, it is a constant reminder of why these things are necessary.

However, when you think about it, the idea that these “precautions” are based on decades-old analog technology and standards feels so obsolete and out of place—particularly when you consider how dependent we are upon digital technologies for so many other aspects of our lives. You would think that our physical safety would be priority number one in the digital age. Fortunately the team at Evolv has – and does – prioritize physical safety.

The concept of a solution designed specifically to detect weapons and deliver a friction-free experience for patrons is setting a standard for safety that is innovative and necessary. The fact that the team at Evolv could not only conceive of this idea, but could actually build it, is somewhat awe-inspiring. The opportunity to be part of that team and communicate what we are doing to Wall Street and beyond is a source of pride and excitement. It’s a mission that this mission-focused guy can truly believe in.

As Gun Violence Rises, Evolv Technology Improves Prevention by 50%

Evolv Express 3.0 Disrupts Security Market Again with Enhanced Threat Detection

WALTHAM, Mass. – (Aug. 12, 2021) – Evolv Technology (NASDAQ: EVLV), the global leader in weapons detection security screening, today announced further advancements to its award-winning Evolv Express® security system. With 2021 on pace to be the most violent year in the country in two decades[1], visitors require better security. At the same time, security professionals and the venues they keep safe are under more and more pressure to find solutions that adequately address the problem. The industry-leading Evolv Express weapons detection screening system does not compromise the security of those visitors to improve their overall experience. Evolv Express 3.0 gives venues both better weapons detection for their security teams and a better experience for their guests.

Venues have a duty to ensure their visitors are safe, both while waiting to enter, and while inside the venue. We believe security is integral to visitors’ peace of mind, but twentieth-century metal detector technology complicates that experience for both visitors and security staff. Clogged security checkpoints create a threat to crowds outside of venues, while invasive wand and bag searches are no longer tolerated in the pandemic era. Managing the sheer volume of alerts from metal detectors often forces security and venue operations personnel to make the tough – and unsafe – choice between thoroughness and speed. Evolv Express aims to eliminate that trade-off by continuously improving the detection of threats, pinpointing where they are, and allowing security guards to focus on only the real threats.

Evolv Express leverages Evolv Cortex AI™, its artificial intelligence (AI) weapons detection algorithms to instantly detect and identify a person carrying a weapon without slowing the flow of visitors carrying their personal items, improving security at the speed and scale required to stay ahead of today’s threats. This innovative technology reduces unsafe crowding, lowers the risk for human error, and removes the tradeoff between keeping a venue safe and providing a good experience for visitors.

“As organizations around the world begin welcoming back visitors and employees, the era of metal detectors as a screening solution is no longer remotely adequate. Cultural and entertainment venues, as well as workplace enterprises, require a touchless security experience, without long wait lines or crowded conditions that create a health and safety risk,” said Peter George, CEO, Evolv. “Evolv delivers security built for the 21st century and we believe that the new enhancements to our system give visitors, security personnel, and business leaders peace of mind as they continue to address an alarming rise in violence as well as deal with the continuing health risks of COVID.” 

The enhancements announced today advance venue security and visitor experience in two distinct ways:

  • Improvements to Best-In-Class Weapons Detection:  Evolv’s best-in-class automated threat detection algorithms further reduce alarm rates, improving the system’s ability to reliably pinpoint and stop real threats. Visitor metrics and alarm rates, including historical rates at all levels of sensitivity help security professionals determine the most optimal flow of visitors, without compromising their security.
  • Extended Security Ecosystem Integrations: A new, one-tap “Request Assistance” feature instantly sends an SMS text and/or email to specified security staff members so teams can more urgently resolve situations where additional staff support is needed to address crowding, health issues, staff constraints, or escalated threat situations. Administrators can quickly and easily configure which personnel receives the request directly from the MyEvolv Portal.

For more information about Evolv Express, or to see a demo, visit our website.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is a leader in SaaS-based weapons detection for security screening, securing the world’s most iconic venues and companies. Our mission is to enable a better experience and better security for venues, creating a safer world to work, learn, and play by transforming physical security to make everywhere safer. We give sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence.  Our security screening has scanned more than 60 million people, second only to the Department of Homeland Security’s Transportation Security Administration(TSA) in the United States, and our technology combines powerful, advanced sensors with proven artificial intelligence (AI), security ecosystem integrations, and comprehensive venue analytics to reliably detect threats 10 times faster than traditional metal detectors.

Evolv Technology, Evolv Express®, Evolv Insights™, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.

 

For more information, visit https://evolvtechnology.com.

 

Forward-looking Statements

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. All statements other than statements of historical facts contained in this press release, including statements regarding the potential of the Evolv Express® security system are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “should,” “could,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or the negative of these terms or other similar expressions.

These forward-looking statements are subject to risks, uncertainties, and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events or our Company’s performance and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation the risk factors set forth under the caption “Risk Factors” in our proxy statement/prospectus, filed with the Securities and Exchange Commission (the “SEC”) on June 28, 2021, as updated by the risk factors disclosed in the section titled “Risk Factors” in our Form 8-K, filed with the SEC on July 22, 2021, and in our other documents filed with or furnished to the SEC. 

These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

 

Contacts

Media Contact:

Fitzgerald Barth

fbarth@evolvtechnology.com

 

Investor Contact:
Brian Norris
bnorris@evolvtechnology.com

 

How Evolv Express 3.0 Is Transforming Venue Security

As the world reopens, physical security is top of mind for venue leadership and visitors alike. Venue security relies on a combination of people, processes, and technologies to prevent harmful weapons from entering. Different venues take different approaches to creating, maintaining, and improving security screening based on the unique needs of the organization and its visitors.  

But every venue has a common challenge: ensure a welcoming guest experience while preventing potential weapons threats from entering. To help address this need in the many ways venues implement security, Evolv recently launched its latest software update for Evolv Express®, Version 3.0. This version introduces new capabilities to advance threat detection, enhance existing venue security response time and protocols with integrated communications, and improve usability and mobility with an intuitive user experience and a wireless tablet option.  

Changing the Status Quo 

Balancing guest experience with the mandate to keep everyone safe is critical when making decisions about security personnel, processes, and technologies. While metal detectors are extremely good at alarming on any object that could be a threat, their user experience is less than ideal. They require people to separate from their bags and personal items, which result in repeat scans, and creates long lines. And in this post-pandemic era, requiring guards to handle personal items, or even wand and pat-down guests, can result in potentially unsafe personal contact. Certainly not the personal experience we all seek. 

In short, manually assessing everyone entering a venue is a burden on everyone involved, aggravating the very people that venues are trying to welcome in. Worse still, it creates new threats. Beyond just the health concerns of crowded lines and close personal contact, guards can become fatigued with manual checks due to so many false-positive alarms, putting them at higher risk of letting potential threats through. And long, tedious lines in unsecured areas create crowds that could become a soft target themselves: exacerbating the very threat conditions that venues are trying to avoid.  

Better Detection Improves Safety 

Balancing venue security with guest experience should never be a compromise. Evolv Express accelerates the way guests move through security checkpoints by leveraging advanced sensors, artificial intelligence (AI) algorithms, and camera technology to detect and visually pinpoint a potential weapon on a person’s body or baggage. It allows visitors to flow seamlessly into a venue at a normal walking pace while focusing guards’ efforts on quickly and efficiently resolving potential threats.  

The Evolv Express technology continuously improves with new releases, and the 3.0 release introduces yet another update to the detection algorithm. This update helps to refine false positive rates (“nuisance alarms”) without compromising the system’s ability to detect even the smallest weapons. 

Security Ecosystem Integrations Shorten Response Time 

Evolv Express is designed to integrate seamlessly with other venue technologies to ensure security teams are supported in their work using processes and protocols already in place. Unlike analog machines and manual methods, Evolv Express is designed to extend a venue’s security eyes and ears to the entryways with features like front-and-rear-facing cameras with available integrations into an existing Security Operations Center (SOC) or Video Management System (VMS).  

To these existing integration capabilities, Evolv Express Version 3.0 adds the newly-released “Request Assistance” feature. When a guard at an Evolv Express system needs to reach out across the existing extended security ecosystem—whether it’s for help from other team members, supervisors, or adjacent teams like law enforcement—Request Assistance adds a one-touch feature on the Evolv Express tablet that leverages your existing security processes and systems to send communications discreetly and instantaneously via SMS text or email. It automatically includes the location of the system requesting assistance, along with the option for a customized message from the team member in need.  

Request Assistance is easily configured in the MyEvolv portal by a system administrator to ensure that personnel staffing critical positions at a venue will be able to leverage existing security protocols for critical communications to get the help they need and better secure entryways, and guests, quickly.  

Usability Accelerates Threat Resolution 

Each Evolv Express tablet provides a targeted search capability when a potential threat is detected via an indicator on an image of the alerting individual, which shows the location of the threat from different vantage points and allows for the detection of multiple threats on the person or their baggage as they walk through the system. This visual alert only targets individuals with potential threats on their person—not everybody walking through—to streamline the work of your security personnel, allowing them to focus their efforts only on addressing and resolving potential threats.  

Visual alerts are delivered via a tablet user experience, and Evolv Express 3.0 introduces wireless tablets to add new options for system setup and ease of deployment. Wireless tablets create easier set-up and tear-down, increasing system mobility while improving the visual profile of the entryway. They also add new options for the physical configuration of systems, with easy ways to pair additional tablets when needed as visitor flow rates increase. Plus, an updated user experience on wired and wireless tablets for Evolv Express 3.0 modernizes the look-and-feel of the interface.  

Advancing Security with Each New Release 

In addition to continual improvements to threat detection, new integrations with adjacent security technologies, and an enhanced user experience, Evolv Express includes access to the web-based MyEvolv portal and Evolv Insights™ analytics. Insights automatically collects and surfaces metrics related to visitor arrival curves and alarm rates by location, date, and time all in one unified dashboard. By leveraging analytics to improve planning—along with new advancements in threat detection, integrated communications, and usability in Evolv Express 3.0— venues can transform the way they protect visitors from potential security threats.

Setting a New Standard For Safety, Security and User Experience

Would you rely on a standard developed in the 1970s for gas-powered cars as the basis for operating a modern electric car? How about a 1970s standard for land lines to manage your smart phone? Seems pretty ridiculous to rely on decades-old standards to define, inform and keep up with today’s pace of innovation and the varied ways technology has shaped lives over the past 10 years, let alone the past 50. 

Yet, when it comes to our safety when we gather in groups in public places, the only “standards” our industry has available to measure the effectiveness of our security technology was developed in the 1970s for uses that just don’t apply in today’s world and for today’s threats. Not only that but these standards are also based on old analog technology—walk through metal detectors—that are even older than the standards themselves and are incapable of meeting today’s needs for modern weapons detection.  

So, you see why I put the word “standards” in quotation marks. In reality, there has never been a security and safety standard that was designed specifically to meet the needs of today’s modern venue—able to specifically and accurately detect weapons while delivering a free-flow, touchless and friction-free experience to visitors, employees, and other patrons. There weren’t many 80,000 seat stadiums in the early 1900s when metal detectors were first deployed. For decades, security professionals have been hindered by static, outdated technology as they try to react to a new threat environment in today’s dynamic world. 

Until now, of course.   

Today’s standard for physical safety and security must address an era in which soft targets, weapons proliferation, and a global pandemic have dramatically and permanently changed the security landscape. A modern solution must detect weapons, not just metal. It must go beyond security—meeting the concerns and expectations of visitors for a touchless, seamless experience, whether attending a sporting event, concert, mall, school, workplace, or any other places where people gather. 

Eight years ago, when we started Evolv, it was clear that the tools organizations were using for security and safety at their points of entry were obsolete at best, and dangerous at worst. Metal detectors were originally designed primarily for applications such as courts and prisons to prevent a small number of visitors from walking in with small contraband, such as razors or pocketknives.   

The standards developed in the 1970s were based on this old technology and established by the National Institute of Justice for courts and jails, and then adapted by the US FAA, Transportation Security Administration, and other regulators for aviation security. There were no cell phones in the ’70s, no proliferation of assault weapons, no steady drumbeat of gun-related violence.  

Relying on those standards and that technology just doesn’t meet today’s security needs. It forces people to queue in long lines, which creates another potential target for attackers. It forces them to hand their personal belongings to strangers, which is anathema to a safe and pleasant experience with COVID now a daily part of our lives. Worse, the standards are designed to detect metal, not weapons, which requires everyone to dump their pockets and virtually every bag to be searched. Because they weren’t willing to create a line around the block, many organizations avoided using metal detectors and just relied on a visible guard presence, handbag checks by security personnel or, often, no security at all.  

A new standard for detecting weapons at modern venues is needed and was one of the reasons we started Evolv. As I say perhaps far too often, some things have to be believed in order to be seen. We believed we could build a new system that could discriminate weapons from the innocuous everyday objects we all carry while allowing the free flow of people. We could see a new standard because we believed it could be built and, in fact, we could be the ones to build it. 

Evolv Express® is the culmination of years of hard work to develop what I consider to be “wicked smaht” (pronounced in a Boston accent) software, leveraging technology advances that would have seemed like science fiction back in the 1970s. These include advanced video analytics, machine learning, artificial intelligence, sensors, and more.  

It has taken us the better part of six years to perfect the technology. With the help of our early customers and our talented team, the Express is the product that fulfills the original vision we had for Evolv. Our system sets a new standard for physical security because it delivers what venues need, now and into the future, including: 

  • Digital technology hardware and software systems that replace obsolete metal detectors with modern weapons detectors. 
  • Free-flow, frictionless screening, with a touch-free experience for patrons in a post-COVID environment. 
  • Simplified deployment, management, upgrades, and operations. 
  • The opportunity for organizations and security leaders to improve security, increase safety, deliver a great user experience and significantly reduce security costs—all at the same time.  

The world is a very different place than it was in the 1970s when the existing “standards” for physical security were adopted. A new standard is needed to adapt to this new world and the current threat environment. We believe the Evolv Express is the next industry standard. Why? Because it fulfills our core mission of making the world safer.  

Democratizing Security: Keeping People Safe

Helping Evolv become a public company has been an incredible, and humbling experience. Our customers, employees, advisors, and investors have been wonderfully unified behind our mission of making the world a safer place, and we are truly thankful for their support. Building momentum through an unpredictable pandemic has been a wild ride, but we’ve come through it stronger than ever. Now that our transformation into EVLV on the NASDAQ is complete, it’s a good time to look to the future. 

While becoming a public company is a noteworthy milestone for all our stakeholders, the stakeholders I am most focused on are the millions of innocent people rushing back into their favorite venues, unaware that they’re surrounded by concealed weapons. Compelling new data and the lived experiences of our customers have convinced me that the threat profile is spiking in ways that few people fully realize and even fewer are equipped to address. As security professionals, we need to start thinking differently about the threat and work together to address it. 

Take Me Out to The Ballgame, but Don’t Touch Me. 

After 16 months of pandemic anxiety, travel restrictions, lockdowns, social distancing, and masking, the vaccinated population is justifiably feeling entitled to return to all their favorite gathering places. Most people are emerging from the pandemic fog with excitement, but many still harbor significant anxiety about being in crowds or having physical contact with? strangers. The professionals who run facilities and venues are understandably thrilled to welcome back their visitors, but it must be done in a way that recognizes the long-lasting—and possibly permanent—changes in visitor expectations. Going back to densely crowded, hands-on security screening is not what anyone wants in the post-pandemic world. 

There are More Guns than You Think  

It’s no secret that there are a lot of guns out there, but many people don’t realize that they likely encounter multiple concealed guns every day without realizing it. Based on industry data, we estimate that there are over 440 million civilian-owned guns per person in the U.S. That’s around 1.3 guns for every person in the country. About 42% of U.S. households own at least one gun and few guns are kept exclusively at home. A quarter of Americans say they carry a gun at least sometimes and nearly a fifth, 18%, claim to carry every day. And no, it’s not just a red state thing: 28% of people in the Northeast say they carry a gun at least some of the time. 

Civilian Firearms in the United Statesbased on Evolv analysis of datafromSmall Arms Survey 2018andSmall ArmsAnalytics2018-2021.

Another fact that might surprise you is that the United States is not the only country where civilian-owned guns are common. According to Small Arms Survey research, there are 85 countries with 10 or more civilian-owned guns per 100 population. The list includes Germany, France, Italy, Belgium, Australia, New Zealand, and many other countries you might not expect. There are almost half a billion civilian-owned guns outside the United States, and while mass public shootings may feel less common in other countries, the list of tragic incidents outside the U.S. is not short.

Map of civilian guns per 100 people by country from theSmall Arms Survey 2017.

Guns are in the Building 

Nearly every privately-owned facility and venue prohibits dangerous weapons, but the inconvenient truth is that many weapons slip through. How do I know this? Because most of our customers tell us that when they start using our Evolv Express® weapons detection screening, they find a shocking number of guns—far more than they expected and more than they ever found using procedures based on old technology such as metal detectors. I know of one facility in the U.S. that found 57 concealed guns in their first hour of testing Evolv Express at a single entrance. And no, it wasn’t a gun show or a law enforcement convention. It was a place where any average American family might find themselves on any given day of the week.  

The stark reality is that old metal detector screening procedures fail to catch a lot of guns. That’s not to say metal detectors don’t work—it’s the combined system of people, process, and technology that fails. Metal detectors alarm on so many harmless objects that security staff divert all bags and pocket contents into slow, error-prone manual searches. Working under the angry stares of hundreds of frustrated visitors, security staff are under incredible pressure to keep things moving. The guns slip through. 

A Fraying Society is a Dangerous Society 

The likelihood of tragic violence increases when more guns are in the hands of people who are unusually anxious or fearful. New gun purchases were up 64% last year in the United States. The CDC says 40% of U.S. adults reported recent battles with mental health or substance abuse during 2020, with the prevalence of anxiety up 3X and depression up 4X year on year. And ongoing political polarization and extremist ideologies are creating an increasingly volatile situation.  

More guns in more anxious hands means more tragic incidents. It’s just math, but that’s the reality of where we are as a society. The U.S. Department of Homeland Security summarized the situation in a 30 June law enforcement bulletin as follows: 

“In recent weeks, domestic violent extremists (DVEs) motivated by various violent ideologies have continued to advocate violence and plan attacks. As of 16 June, racially or ethnically motivated violent extremist-white supremacists (RMVE-WSs) were sharing downloadable links to a publication discussing targeting mass gatherings, critical infrastructure, and law enforcement officers.”

It’s not just a handful of extremists who are changing the threat landscape. While only a tiny minority of gun owners are infected with the extremist ideologies that the DHS is tracking, the fact remains that many of people around us every day are feeling threatened enough to arm themselves. This increases the risk of tragic escalations where misunderstandings and opportunistic conflict can quickly erupt into violence. 

The Duty of Care to Keep People Safe 

The police recently arrested a man who tried to enter a major tourist destination with an unlicensed gun that was detected by Evolv Express. When questioned, the man explained that he felt threatened by recent public protests and felt he needed the gun to protect his family on vacation, and was willing to take the risk of detection. That’s where we are. The strength of the “visible deterrent” factor is fading fast. Facilities and venues need to start reliably detecting and stopping guns, and then let the public know they have this capability. It’s the only way to reclaim the lost ground, and it needs to happen soon. 

If anxious gun owners are trying to slip into major tourist destinations with guns even when they know it is illegal and can clearly see security screening in place, it is safe to assume that they are also entering schools, grocery stores, malls, houses of worship, and other facilities where weapons are also prohibited, but screening is largely absent. The threat is everywhere.  

As noted earlier, our customers tell us they find a surprising number of weapons with Evolv Express. They also tell us they love that they find more guns while allowing harmless visitors to enter ten times faster than their old screening process based on metal detectors and universal bag checks. They tell us they need fewer front-line security staff overall with Evolv Express, and the remaining staff loves the new process. They also tell us they love the operational awareness they get from Express Insights™ analytics. We hear this same story across hundreds of sites as we scan over 11 million individual visitors every month.  

At this point, I believe it has become abundantly clear that Evolv Express has set a new and higher standard for what security screening should be.  I believe every facility and venue owner has a duty of care to carefully consider the new standard that our weapons detection system represents in light of the escalating threats we’re seeing. We are committed to democratizing access to this technology over time so it can be everywhere it needs to be to keep the vulnerable masses safe.  

If you want to be part of raising the standard of safety for millions of people, we’d love to have your support. Here are a few ideas on how you can help. If you are responsible for security at a facility or venue, please get in touch so we can discuss your needs. Consider speaking with the security staff at the places you gather most often and ask them if they have considered weapons detection. If you’ve experienced the speed and precision of Evolv Express in person, help us tell the world about it. And if you are looking to get more directly involved, note that we’re hiring in almost every department. Together we can all do a little to make everywhere safer.  

The New Standard: Safety in Motion

What if we lived in a world where we could work, learn and play together without the fear of weapons violence? This is what our founders Mike Ellenbogen, Co-Founder and Head of Technology, and Anil Chitkara, Co-Founder and Head of Corporate Development have set out to do. All of us at Evolv Technology share that same mission; transform security to enhance everyone’s life. This is our duty-of-care and we hold ourselves accountable to it. 

As of today, six months into 2021, there have been 319 mass shootings, compared to 417 in all of 2019 (according to www.gunviolencearchive.org). The old standards for security aren’t keeping up with the security requirements of today. Many institutions that have used metal detectors for security realize they can no longer keep large numbers of people queuing in security lines. Aside from the potential health hazard lines create, this opens up an additional security vulnerability. Venues and enterprises that have never used security screening are now budgeting to keep their visitors safe. Traditional metal detector technology just cannot address the pace of life and the ubiquitous need for security in our daily lives.

We need new standards. We need security that continually improves – touchless, free-flowing, and frictionless technology – supported by a strong concept of operations and enforced by well-trained security personnel. The days of bag checks, wands, and body checks are unacceptable and biased. We must find the weapons, not the metal. Advanced sensors and artificial intelligence are at the forefront of this evolution. This is where we come in.

We are obsessed with our customers’ success and strive to do better and be better for them. That requires authenticity and real products that work. At Evolv we do what we say and say what we do. There is no room for bravado. 

Evolv innovations are fueling the physical security transformation, disrupting the status quo. Evolv Express®, powered by Evolv Cortex AI™, can distinguish between metals that are personal items from weapons used for harm. No longer do visitors, fans, employees, and students need to stand in long lines to slog through metal detectors. They can move at the pace of life through our weapons detection systems, eliminating the potential soft targets long lines create to seamlessly flow through security. Life shouldn’t feel like airport security.

New standards call for a new brand. We’re calling it Safety in Motion. The modernized look is representative of our technological innovations in security screening, using cutting-edge technology for today’s security needs. Moreover, we wanted our new brand to reflect our mission: Transform security to enhance everyone’s life. We think it does, we hope you do too.

Transforming Human Security and Saving Lives

Evolv Earns Edison Award for Completely Reinventing Threat Detection

Last week I had the distinct honor of accepting, on behalf of everyone at Evolv Technology, the Edison Award we won last year for the “game-changing innovation” that our Evolv Express® system and Evolv Cortex AI™ software platform represent. We got word of the award last spring, but there was no public event at which to actually receive it – so while I participated in this year’s ceremony from afar, it was gratifying to virtually bring the award home.

That’s because the Edison Award is one you want to display proudly for all to see. It’s one of the few awards that truly recognizes significant technical innovation in products that solve actual problems in the real world, as opposed to in a lab. And herein lies our story.

As the original announcement said, the award goes to companies that are “changing the world with their incredible vision, their commitment to innovation, and the introduction of new products and services that will make consumers’ lives safer, healthier and more sustainable.” 

Our second-generation product, Evolv Express, for which we earned this award, is a game-changing weapons detection system. With its’ ability to scan up to 3,600 people an hour and the intelligence to differentiate between weapons and personal items – without forcing people to empty pockets and bags or break stride – it’s improving security at the speed and scale required in this post-pandemic world. 

Evolv Technology is leading the digital transformation of physical security, one that is touchless and addresses today’s threat of pandemic viruses as well as concealed weapons. By harnessing our technical innovations in sensors and AI to overcome the widely recognized deficiencies of outdated security screening products, Evolv’s technology enables ticketed venues, workplaces and schools to vastly improve their ability to keep their customers, employees, guests, students and staff safe all while rapidly and more naturally enter these venues.  And, it’s all done in a way that integrates with the way people want to live, and more importantly, the way they deserve to live.

 

Edison, Bell and Early Metal Detectors

The Edison Award, of course, is named after Thomas Edison, one of the greatest inventors of all time, and holder of some 1,093 U.S. patents. Evolv Express is an entirely new approach to metal detection technology first created by another renowned inventor and Edison contemporary, Alexander Graham Bell.

While Bell is best known as the inventor of the telephone, he was also experimenting with a metal detection device around the time in 1881 when President James Garfield was shot by a disgruntled diplomat. The bullet was lodged in the president’s chest and for weeks physicians attempted to find and extract the bullet.

Bell had successfully used his device to detect bullets in sides of beef and shrapnel in Civil War veterans, so he thought it may be of use in Garfield’s case. But the device failed for a simple reason: unbeknownst to Bell at the time, underneath the horse-hair mattress on which the president was lying was another made of steel wires. Those wires interfered with Bell’s metal detector, which was based on electrical inductors, rendering him unable to find the bullet. In other words, the technology couldn’t separate the signal from the noise – we’ll come back to this technical challenge

By the 1920s, metal detectors using radio frequency (RF) waves began to come on the scene. While they have been refined over time, the metal detectors we all pass through today are based on that same 100-year-old technology.  

Interference: An Age-old Issue

And that technology still suffers from the same challenges that rendered Bell’s detector unable to help President Garfield….interference. As we all know, anytime you pass through a metal detector, you are asked to empty your pockets and remove any metal – keys, phones, wallets and so on, and pass through in single file. In effect, all those personal items are interfering with the detector’s ability to detect the real threat: weapons. Legacy technology and an outdated approach certainly don’t integrate with the way people live today.

Necessity is the Mother of Invention

In 2013, after the Sandy Hook school shooting and Boston Marathon bombing and amid terrorists shifting targets to nightclubs and stadiums around the globe, we founded Evolv with the singular goal of keeping people safe by finding a way to detect weapons at places that aren’t mandated to do so – like nightclubs, schools, workplaces, sports and concert venues.

These kinds of venues, companies and schools need security that does not disrupt the public gathering experience and avoids the problems that come with traditional security approaches such as crowds, single-file lines, bag checks, wands and invasive pat downs.

We knew there was a hurdle to get over. If the detection device presents too much hassle and creates lines, people won’t embrace it.  It needed to be seamless, accurate and fit within venue operations.  It had to balance the desire to improve safety with the need to maintain or even improve the visitor entrance experience.

Evolv has a Singular Goal

Starting out with a small team of colleagues who are world-class in understanding detection challenges, we had the idea to combine state-of-the-art sensors with smart software and machine learning algorithms to solve this problem. After refinement and iteration, we’ve delivered on our goal: detection technology that is all at once accurate and frictionless. And can perform reliably under real world conditions.

Now, About that Signal to Noise Problem

When I say accurate, I mean we can reliably differentiate a weapon from a phone and the other objects we all carry on a daily basis, and we’ve accounted for variables such as wind and vibration that may throw off other forms of RF-based sensors. And by frictionless, I mean you no longer have to empty pockets, go through screening single-file, or even slow down your normal walking speed.

Security Can Only be Effective if it Works in the Real World

Innovation in our space has to address often competing requirements: balance the physics of detection, address the realities of the all the stuff we carry, and support the operational needs of the customer.  And it has to satisfy all three in a way that achieves high throughput, quickly and more securely.

That, I would argue – and the Edison Award folks apparently agree – is game-changing technology. And it certainly helps to make us all safer.

So, I proudly accepted the Edison Award last week on behalf of all the smart, dedicated people on the Evolv team who helped develop this technology, refine it in the lab, and bring it out into the field, where it can solve real-world problems. I hope both Edison and Bell would be impressed.

The Future of Security After Mass Reopenings

Using AI to Stay Safe

On April 21, 2021, Evolv Technology CEO, Peter George, joined Bloomberg Quicktake Anchor, Tim Stenovec, to discuss Evolv Technology’s touchless AI-based security screening technology.

Transcript

Tim Stenovec (Quicktake Anchor):
Well, this week, a leader in AI touchless security screening announced an update to let customers comprehensively review, analyze, and collect valuable data on their security checkpoints. Evolv Technology says it’s screened more than 50 million people, second only to the TSA in screening people in the US. The company recently announced plans to go public using a SPAC merger with New Hold Investments. Joining me now is evolve technology CEO, Peter George. Hey Peter, thanks so much for taking the time and joining us on Quicktake this afternoon. Where would people have interacted with Evolv Technologies products without even knowing about it?

Peter George (Evolv Technology CEO):
Well, they would know about it because they’d walked through our venues, Tim, places like stadiums, performing arts venue, schools. What would be different about walking into that venue through our system is that they’d walk into the venue and not break stride, no lines, nobody would touch their stuff, and we be able to screen for threats without them breaking stride and without them divesting of the things that they normally carry.

Peter George (Evolv Technology CEO):
And that is a transformative experience.

Tim Stenovec (Quicktake Anchor):
Yeah. I mean, I’m looking at the website right now, and I know that I’ve certainly walked through these machines at museums and venues. I wonder, though, what it’s fair to call these, right? Are these metal detectors? Not really, right?

Peter George (Evolv Technology CEO):
No. Their threat detection security screening devices, advanced sensors powered by artificial intelligence. So we can find the needle in the haystack and the needle is the weapon amongst all the things that people are carrying.

Tim Stenovec (Quicktake Anchor):
Right.

Peter George (Evolv Technology CEO):
And the magic is the ability to discriminate between a phone and a firearm. And that’s really, really hard. We’re all carrying phones and keys and things that are metal. Metal detectors are really good at finding all metal, but they’re really bad at finding weapons, and we find weapons really well.

Tim Stenovec (Quicktake Anchor):
How do you do it? What’s the technology that you use?

Peter George (Evolv Technology CEO):
Sure. So we’ve combined very, very advanced sensors. As you know, there’s been a lot of advancements in sensor technology and cameras, machine learning, and artificial intelligence. We fuse those all together. And we, as I said, could find the needle in the haystack. So as people walk through the venue, we’re creating different kinds of telemetry, the fragmentation of the metallic composition, the shape. Oftentimes, we’re looking for the barrel of a gun and when we find it, we can make a quick determination. But if it’s anything else that’s either metal or anything else they’re carrying, they can walk in without it. And so the ability to find a weapon on people while they’re moving without them taking their things out of their pockets is really, really important. You can imagine it completely transforms the entry into venues, where there are lots of people. We basically make lines go away and make the people in the venues on the other side super safe.

Tim Stenovec (Quicktake Anchor):
Okay. This sounds pretty great. I got to tell you, I haven’t been in an airport in a long time, but I know that the last time I was in an airport at TSA, this is not the technology they were using. There was a long line. Why doesn’t TSA use Evolv Technology?

Peter George (Evolv Technology CEO):
Sure. So we’re going to let the TSA worry about the sterile environment and the sterile environment is making sure nothing gets on a plane with 500 people and goes 10,000 feet in the air. The founders of this company actually had spent a lot of time in aviation and recognize that there was a big need for safety outside of aviation, where people were gathering, stadiums, performing arts venues, theme parks, and using traditional technology like metal detectors, which by the way, Tim, was invented 90 years ago, to solve that problem just didn’t make any sense.

Peter George (Evolv Technology CEO):
So it’s a really hard problem to solve, which is to find weapons on people that the weapons are concealed while they’re moving, and we solved the problem. It took us five years to do it and about a hundred million dollars. And so we’re in a great position now to democratize security and bring security to all those other venues, not like airports, that when people come back from this pandemic, they want to gather safely and we can allow that to happen.

Tim Stenovec (Quicktake Anchor):
I want to understand though about why it wouldn’t be in an airport right now and why TSA wouldn’t use it. Is it because the technology isn’t as sensitive as a metal detector? You use the term a sterile environment.

Peter George (Evolv Technology CEO):
Yeah. So we are in some airports today. In fact, seven of them. People are using our technology for employee screening.

Tim Stenovec (Quicktake Anchor):
Okay.

Peter George (Evolv Technology CEO):
So people could use it in their airport, but most of our focus is in the 0 billion TAM, which is non-aviation TAM, non-regulated.

Tim Stenovec (Quicktake Anchor):
You say TAM, total addressable market?

Peter George (Evolv Technology CEO):
Yeah, that’s right. Yeah. That’s right. Yeah.

Tim Stenovec (Quicktake Anchor):
What about this SPAC here? There was a surge in SPACs over the last few months. We saw a real dip in the most recent time period. Why is SPAC the right way to go public?

Peter George (Evolv Technology CEO):
Yeah. So look, we knew we were going to raise money and/or go public in the next couple of years. Their both certainty to close, and then timeframe, time to the capital we thought was super important. And the SPAC vehicle provided us that in a really a terrific way. As you know, we’re helping reopen America. And now’s the moment for people to understand who we are and how we can help them. So we felt by fully capitalizing the company, we can take advantage of the accelerated growth that we have in the market and help customers reopen safely. So we’re thrilled about this. Our plan is to become a public company sometime in Q2, probably in June. We’re really excited about that and working very closely with all kinds of venues today helping them open up.

Tim Stenovec (Quicktake Anchor):
Yeah, well, it’s certainly cool technology and I hope to be back in museums and concert venues soon as well. Evolv Technology CEO, Peter George. Hey Peter, thanks so much for taking the time, and for joining us on Quicktake.

Evolv Technology Brings Data Analytics Capabilities to its AI-enabled Touchless Security Screening System

Evolv Technology, the leader in AI touchless security screening, today announced Evolv Insights™, a powerful SaaS-based analytics dashboard that provides security and operations professionals the ability to comprehensively review, analyze and collect valuable data from their Evolv Express® security screening systems throughout their venues and facilities.

Evolv is transforming the physical security industry by providing the world’s first AI-enabled touchless screening system. Built on its Evolv Cortex AI™ software platform, Evolv is continually improving the security posture for customers through machine learning and on-demand analytical insights in a way that legacy metal detectors and other analog screening systems cannot provide.

Available through the secure My Evolv Portal, Evolv Express customers can use Evolv Insights™ to extract data about venue and entrance visitor arrival curves and counts, system detection performance, alarm statistics and comparisons across multiple sites, locations within sites, event types, detection settings, time periods and more. Depending on a customer’s desired level of granularity, the data can be presented annually, quarterly, monthly, daily, hourly, and even down to five-minute increments. Designed to provide actionable insights, customers can easily export data on-demand to enable sharing with colleagues and leadership via a range of user-friendly visual formats.

“We believe AI is changing the world and Evolv has been at the forefront in applying its many advantages to the physical security screening market,” said Vice President of Product Management Steve Morandi at Evolv. “Until now, security teams using outdated metal detector technology have been forced to make operational decisions based on biased judgment and anecdotal inputs, collected manually under the pressure of time. With automated data collection and actionable insights, security teams can move from reactive management and intuition-led decision making, to proactive, data-informed operations.”

Evolv Insights Allows Customers to:

“As a leader in designing weapons detection solutions, gaining insights into the actual throughput and alerts is fundamental to those designs,” said Founder and Managing Partner Dan Donovan at Ingressotek. “As an Evolv Technology Partner, we work with many of the most recognizable stadiums, sporting events and entertainment venues to keep their fans, patrons and staff safe. Having integrated, actionable data at our fingertips through Evolv Insights is very valuable, especially as our customers start reopening. Evolv Insights gives them easy access to details about visitor flow and other critical information to effectively plan resources as well as adjust in real-time.”

“The ability to better understand and anticipate how our patrons return to Omaha Performing Arts events as we come out of the pandemic will be valuable as we refine our reopening plans,” said Senior Vice President and Chief Financial Officer Arnold Reeves at the Omaha Performing Arts. “The data could allow us to make more informed staffing decisions, and also provide the ability to view and easily report percent venue occupancy numbers. With multiple entrances into the venues, the data portal will allow us to determine where volunteers are needed most to help enhance the patron experience. Without Evolv Express and Evolv Insights, we’d have to rely on visual cues and estimates.”

“We recently started using Evolv Express to enhance security screening for guests and team members throughout our facility,” said Potawatomi Hotel & Casino Security Director Sam Guzman. “With Evolv Express we have a state-of-the-art system that can help us increase security efforts while maintaining a high level of service for our guests.”

The Evolv Express system delivers up to a 70% reduction in cost and is 10 times faster than traditional metal detectors, resulting in screening an unparalleled 3,600 people per hour, per system. The system allows for visitors to pass through screening without breaking stride and continuing the pace of life, improving security at the speed and scale required in this post-pandemic world.

The world’s most iconic venues and companies place their trust in Evolv to protect their employees and visitors, including Uber, Lincoln Center, L.L. Bean, Six Flags, and hundreds of others. Evolv’s systems have been used to screen more than 50 million people, second only to the Department of Homeland Security’s Transportation Security Administration in screening people in the U.S.

Join us for a live webinar on Tuesday, April 20, 2021 at 11:00 a.m. ET to learn more.

In March 2021, Evolv entered into a definitive agreement for a business combination with NewHold Investment Corp. (NASDAQ: NHIC) in a transaction that would result in Evolv becoming a U.S. publicly listed entity. The transaction is expected to close in the second quarter of 2021, subject to satisfaction of customary closing conditions. For more information visit nhicspac.com.

About Evolv Technology

Evolv Technology is the world’s leading provider of AI touchless security screening systems that enhance safety without sacrificing the visitor, student and employee experience. Built on top of its Evolv Cortex AI software platform, the company provides an array of AI touchless screening technologies for weapons detection, identity verification and health-related threats.

Led by a team of security industry leaders with a track record for delivering first-to-market products, Evolv’s investors include Bill Gates, Florida Governor Jeb Bush’s firm, Finback Investment Partners, DCVC, General Catalyst Partners, Lux Capital, SineWave Ventures, Motorola Solutions and STANLEY Ventures. The company’s partners include Motorola Solutions, STANLEY Security and Johnson Controls. Evolv Express® has earned industry accolades such as the 2020 Edison Awards™, two Campus Safety 2020 BEST Awards, Campus Security & Life Safety magazine’s Secure Campus 2020 Awards and Best Places to Work by Inc. Magazine and Built in Boston.

In March 2021, Evolv entered into a definitive agreement for a business combination with NewHold Investment Corp. (NASDAQ: NHIC) in a transaction that would result in Evolv becoming a U.S. publicly listed entity. The transaction is expected to close in the second quarter of 2021, subject to satisfaction of customary closing conditions. For more information visit nhicspac.com.

Evolv Technology, Evolv Express®, Evolv Insights, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.

For more information, visit https://evolvtechnology.com.

Important Information for Investors and Stockholders

This document relates to a proposed transaction between NewHold and Evolv. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. NewHold has filed a registration statement on Form S-4 with the SEC, which includes a document that will serve as a prospectus and proxy statement of NewHold, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all NewHold stockholders. NewHold also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of NewHold are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by NewHold through the website maintained by the SEC at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from NewHold upon written request to NewHold Investment Corp., c/o NewHold Enterprises, LLC, 52 Vanderbilt Avenue, Suite 2005, New York, New York 10017, Attn: Charlie Baynes-Reid, or by calling (212) 653-0153, or by email at info@newholdllc.com.

Participants in the Solicitation

NewHold and Evolv and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from NewHold’s stockholders in connection with the proposed transaction. A list of the names of the directors and executive officers of NewHold and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between NewHold Investment Corp. (“NewHold”) and Evolv Technologies, Inc. (“Evolv”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of NewHold’s securities, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Agreement and Plan of Merger, dated as of March 5, 2021 (the “Merger Agreement”), by and among NewHold, Evolv and NHIC Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of NewHold, by the stockholders of NewHold, the satisfaction of the minimum trust account amount following redemptions by NewHold’s public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the transaction, (v) the inability to complete the PIPE investment in connection with the transaction, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on Evolv Aviation’s business relationships, operating results and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of Evolv and potential difficulties in Evolv employee retention as a result of the transaction, (ix) the outcome of any legal proceedings that may be instituted against Evolv or against NewHold related to the Merger Agreement or the transaction, (x) the ability to maintain the listing of NewHold’s securities on a national securities exchange, (xi) the price of NewHold’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which NewHold plans to operate or Evolv operates, variations in operating performance across competitors, changes in laws and regulations affecting NewHold’s or Evolv’s business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, and (xiii) the risk of downturns and a changing regulatory landscape in Evolv’s highly competitive industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of NewHold’s registration on Form S-1 (File No. 333-239822), the registration statement on Form S-4 discussed above and other documents filed by NewHold from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law NewHold and Evolv assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither NewHold nor Evolv gives any assurance that either NewHold or Evolv or the combined company will achieve its expectations.

Any financial projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond NewHold’s and Evolv’s control. While all projections are necessarily speculative, NewHold and Evolv believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this communication should not be regarded as an indication that NewHold and Evolv, or their representatives, considered or consider the projections to be a reliable prediction of future events.

 

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Jennifer Torode
tel:7812545836
jtorode@chenpr.com