The Customs and Border Protection Project is the largest project that United States President Donald Trump has signed off on currently. With a budget of an estimated twenty-one billion dollars, it is no wonder that the project has seen over two hundred companies from all over the United States angle for contracts. One such company is the Silicon Valley-based start-up Quanergy.
Here’s a little about Quanergy
Quanergy is a relatively young company famed for its LiDAR sensor creation, a product that has seen the security of millions of automobiles hold greater appeal for its consumers. Car brands such as Hyundai and the Renault-Nissan model use the laser sensor for third-dimensional imaging in their security systems. The LiDAR is also popular because unlike other security sensors, it works efficiently in both dark and light conditions.
Though a start-up, Quanergy is valued at ninety million US dollars as of the first quarter of this year. Earlier this year the company formed meaningful partnerships with companies such as Sensata Technologies for its ‘global network and automotive connections’ according to Quanergy CEO Louay Eldada.
The Bid and All that comes with it
First reported in the Axios, news of the California-based company’s bid to take part in building the wall between the United States and its southward bound neighbor Mexico was received with puzzlement nationwide. The report only listed Quanergy’s proposal as ‘other,’ which means that the company put forward a feasible method to construct the wall without using concrete.
When questioned as to why Quanergy had put in its bid for primarily security reasons while the company’s focus was automotive, Eldada said, “I want to diversify the company’s revenue base so that it can rely on both security and cars.” Eldada added his plan was to ensure that the two interests took up eighty percent of the company’s income and twenty percent would remain open ‘to earn income by other ways.’
Quanergy was not the only relatively small business to put in its bid. Reports from CityLab show that of the many companies that bid on Trump’s project, some, like Quanergy, had revenue streams that had nothing to do with construction. One company was reported to be the supplier of office stationery and school supplies while others were cited as being ‘international parties with a likely intent to punk the process.’ Two solar energy companies also put themselves up for consideration, adding to the atmosphere of ‘normalcy’ that Quanergy projected in putting in its bid for a contract.
Quanergy will be going against some magnates in the construction industry and related conglomerates in bidding for the multi-million contracts. Among these companies is Raytheon, which is a defense contracting company and Caddel, a globally recognized building and construction company of good repute.
The step that Quanergy took is a big one, but then the company may retain the lucky streak it has been on since the beginning of this year. The biggest question is, though, if the company will lose any business for bidding in the project with states like San Francisco threatening to ban all companies that placed their bids.
