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(Alliance News) - Starcom PLC on Monday said it has signed a statement of work with Zero Motorcycles Inc for development of technology enhancements to its Helios units integrated within Zero's motorbikes.
Starcom provides wireless solutions for remote tracking and monitoring of assets and people.
In December, the company announced a collaboration with motorcycle manufacturer Zero Motorcycles to integrate the Helios technology into their electric motorcycles. Helios units, equipped with Bluetooth and CANBUS connections, connect with a vehicle's computer to analyse a variety of vehicle and driver behaviour data.
On Monday, Starcom said the enhancements to the units will be supplied in the next three months. The newly-signed statement of work will see the company receive a "small increase" in recurring software-as-a-service revenues generated per connected motorcycle.
While the company noted that that the sale of Helios-fitted motorbikes remained low, it added that Zero anticipated a "significant" increase in demand for the motorcycles in 2020.
"This new statement of work demonstrates the depth of integration we have achieved with Zero and the strategic nature of the relationship. We are proud to be part of the electrical revolution in the transport market which we expect to lead to new customer relationships in the sector in due course," said Starcom Chief Executive Avi Hartmann.
Shares were trading 5.5% up at 1.18 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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