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2 Sep 2019 07:00
2 September 2019
Seeing Machines Limited
Seeing Machines awarded expanded program for DMS with existing OEM customer
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 new Tier 1 supplier to deliver its FOVIO driver monitoring platform into a new generation architecture addressing additional car models for an existing European OEM customer.
Production for the additional car models is scheduled from 2022, with incremental revenue expected to exceed A$23m.
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 as it continues to be recognised by industry and regulatory groups such as the European Commission and New Car Assessment Program (NCAP).
Nick DiFiore, SVP & GM Automotive, Seeing Machines commented: "We are delighted to be expanding our footprint with an existing OEM customer as we demonstrate our versatility in adapting to their diverse integration needs across vehicle models. We are also excited to be working with a new Tier 1 supplier as we further grow our automotive supply chain relationships."
Seeing Machines now counts nine automotive OEM production awards spanning a broad range of car and truck models with six OEM customers. Working closely with a growing ecosystem of Tier 1 partners, the Company now expects these programs to deliver over A$200m in revenue.
Enquiries:
Seeing Machines Limited | +61 2 6103 4700 |
Paul McGlone - CEO Sophie Nicoll - SVP, Corporate Communications | |
Cenkos Securities plc (Nominated Adviser and Broker) Neil McDonald Pete Lynch | +44 131 220 6939 |
Antenna Group for Seeing Machines (Media Enquiries) | |
seeingmachines@antennagroup.com |
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation
(EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to
be in the public domain.
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.
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