Last checked at 23 Jul 2019 07:00
23 July 2019
Seeing Machines Limited
Automotive Design Win Targeting Euro NCAP
Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has been selected by a major automotive Tier 1 supplier, to deliver its FOVIO driver monitoring platform into additional car models for an existing German OEM customer. The expanded deployment includes variants targeting European New Car Assessment Programme ("Euro NCAP") safety goals.
Euro NCAP is the European body responsible for vehicle safety ratings and testing. Its 2025 "Vision Zero" roadmap outlines the use of safety features including Driver Monitoring Systems (DMS), Automatic Emergency Braking, and Lane Keeping Assistance, to achieve advanced (4 or 5 star) safety ratings. This safety approach has been further substantiated by European Parliament direction which has called for mandatory installation of all three systems, in all new car models sold in Europe starting as soon as 2022.
The expanded engagement, scheduled for production from 2021, is expected to deliver incremental revenue between A$11m and A$30m.
Seeing Machines CEO Paul McGlone commented: This important milestone confirms Seeing Machines' ability to scale our technology and participate in a broadening DMS market, including entry level solutions targeting Euro NCAP goals. Further validation of our DMS technology is very encouraging as Euro NCAP and other regulatory bodies draw closer to finalising requirements to enhance safety across the industry."
Enquiries:
Seeing Machines Limited www.seeingmachines.com | +61 2 6103 4700 |
Paul McGlone - CEO Sophie Nicoll - VP, Marketing & Communications | |
Cenkos Securities plc (Nominated Adviser and Broker) Neil McDonald Beth McKiernan Pete Lynch | +44 131 220 6939 |
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(EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to
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About Seeing Machines - www.seeingmachines.com
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 identification and understanding of drivers through Artificial Intelligence (AI) analysis of heads, faces and eyes. This insight enables Driver Monitoring Systems (DMS), which monitor driver/operator identification and attention and can detect 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 to industry leaders in each vertical.
DMS is becoming a core safety technology integrated into ADAS offerings 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 and is set to be become a regulatory requirement for all cars, vans, trucks and buses in Europe from 2022, with the rest of the world expected to follow soon after.