Last checked at 10 Apr 2019 07:00
10 April 2019
Seeing Machines Limited
Design win for next generation automotive program
Seeing Machines (AIM: SEE, "Seeing Machines" or the "Group"), the advanced computer vision technology company that designs AI powered operator monitoring systems to improve transport safety, has been appointed by Joyson Safety Systems (JSS) to provide its FOVIO driver monitoring technology for a US automotive OEM as it expands the rollout of their award-winning driving system across a number of additional vehicle models.
Mass production for the additional models is scheduled from 2020, and the expansion represents an initial estimated lifetime revenue of over A$7 million for Seeing Machines.
Seeing Machines now has seven OEM production programs spanning a broad range of car models across a total of six automotive OEMs globally, which are expected to deliver over A$150 million revenue largely in the 2021 to 2024 timeframe.
Seeing Machines' FOVIO driver monitoring platform uses advanced machine vision technology to precisely measure and analyse head pose, eyelid movements and eye-gaze under a full spectrum of demanding lighting conditions, including through sunglasses. This data is processed to interpret driver attention state, focus, drowsiness and impairment levels to provide ADAS (advanced driver assistance systems) with critical inputs in real time.
Driver Monitoring Systems (DMS) technology is set to become standard technology in most modern passenger cars for improved driver and semi-automated driving safety.
Nick DiFiore, GM of Automotive at Seeing Machines, commented:
"We are delighted to have further validation of our technology with this program award to extend the rollout of the FOVIO DMS across more vehicles for this major customer.
"Our team has worked closely with JSS to deliver this program and we are proud to continue our association."
Enquiries:
Seeing Machines Limited www.seeingmachines.com | +61 2 6103 4700 |
Ken Kroeger, Executive Chairman & CEO Sophie Nicoll, VP Marketing & Communications |
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Cenkos Securities plc (Nominated Adviser and Joint Broker) Neil McDonald/Beth McKiernan/Pete Lynch | +44 131 220 6939 |
Canaccord Genuity Limited (Joint Broker) | +44 20 7523 8000 |
Simon Bridges/Richard Andrews |
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Instinctif Partners | +44 20 7457 2077 |
Kay Larsen/Chantal Woolcock/Adrian Duffield |
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The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
About Seeing Machines
Seeing Machines (LSE: SEE), a global company headquartered in Australia, is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company's machine learning vision platform has the know-how to deliver real-time understanding of drivers through Artificial Intelligence (AI) analysis of heads, faces and eyes. This insight enables Driver Monitoring Systems (DMS), which monitor driver/operator attention and can identify drowsiness and distraction across multiple transport sectors.
Seeing Machines develops DMS for the Automotive, Commercial Fleet, Aviation, Rail and Off-Road markets. The Company has offices in Australia, USA, Europe and Asia, and delivers multi-platform solutions ranging from embedded software and processors to aftermarket system and service solutions to industry leaders in each vertical.
DMS is now considered a core safety technology for the Automotive industry, particularly with the development of semi-autonomous and self-driving cars. DMS is also increasingly seen to be an integral safety feature across the Commercial Transport & Logistics industry globally. www.seeingmachines.com
About Joyson Safety Systems
Joyson Safety Systems is a global leader in mobility safety providing safety-critical components, systems and technologies to automotive and non-automotive markets. Joyson Safety Systems is headquartered in Auburn Hills, Michigan, USA, with a global network of more than 50,000 employees in 25 countries. It is a subsidiary of Ningbo Joyson Electronic Corp. (SHA: 600699, "Joyson Electronics").