Seeing Machines Limited Seeing Machines appointment with Japanese OEM (9107K)
May 10 2022 - 3:41AM
UK Regulatory
TIDMSEE
RNS Number : 9107K
Seeing Machines Limited
10 May 2022
This announcement contains inside information
Seeing Machines Limited
10 May 2022
Seeing Machines appointed for DMS production solution with first
Japanese OEM
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 appointed by an existing customer and global
Automotive Tier-1 supplier to deliver its FOVIO Driver Monitoring
System (DMS) for a leading Japanese carmaker.
This contract win, with an initial lifetime value of A$21
million, due to start production in 2025, marks Seeing Machines'
first production Automotive award in Japan and brings the total
number of OEMs, with which Seeing Machines has won business, to
nine. Delivery is via the Company's deeply embedded and accelerated
Driver Monitoring Engine (FOVIO e-DME software library) configured
for driver state sensing and targeted at global NCAP (New Car
Assessment Program) and regulatory requirements, over a number of
additional vehicle models.
Seeing Machines has recently expanded its presence in Japan and
is working with a range of Tier 1 suppliers and Automotive OEMS to
secure a number of new opportunities as Japanese car makers move to
address global NCAP, regulatory, and safe semi-automated vehicle
applications.
The Company continues to grow as an automotive technology leader
in Driver and Occupant Monitoring Systems, having now won a total
of 12 automotive programs for 9 individual OEMs, spanning over 100
distinct vehicle models. Delivered with a range of proven global
automotive Tier-1 customers/partners, the cumulative initial
lifetime value of all Seeing Machines production automotive awards
now stands at more than A$345 million.
Nick DiFiore, SVP and GM Automotive commented:
"We are delighted to have our first Japanese OEM award and
believe that we will continue to be successful in this region as
more programs are finalised to meet the shrinking timeframes for
safety and regulatory requirements, globally. We have invested in a
seasoned and capable sales and technical support team in Japan, who
are developing relationships with key stakeholders across the
Automotive industry, and this win is an important step for Seeing
Machines to become the region's DMS technology supplier of
choice.
"I'm also proud of our factory engineering team given their
ability to satisfy customer concerns over several technical
challenges needed to close on this program. While we are unable to
disclose our customer's integration strategy, we continue to prove
that Seeing Machines is uniquely positioned to address the
increasing need for flexible, and often difficult, camera packaging
locations and sightlines required to ease OEM camera packaging
burdens and system cost across an array of vehicle models."
Enquiries:
Seeing Machines Limited +61 2 6103 4700
Paul McGlone - CEO
Sophie Nicoll - Corporate Communications
Stifel Nicolaus Europe Limited (Nominated
Adviser and Broker) +44 20 7710 7600
Alex Price
Nick Adams
Lionsgate Communications (Media Enquiries)
Jonathan Charles +44 7791 892509
The person responsible for this announcement is Paul
McGlone.
About Seeing Machines (AIM: SEE), a global company founded in
2000 and headquartered in Australia, is an industry leader in
vision-based monitoring technology that enable machines to see,
understand and assist people. Seeing Machines' technology portfolio
of AI algorithms, embedded processing and optics, power products
that need to deliver reliable real-time understanding of vehicle
operators. The technology spans the critical measurement of where a
driver is looking, through to classification of their cognitive
state as it applies to accident risk. Reliable "driver state"
measurement is the end-goal of Driver Monitoring Systems (DMS)
technology. Seeing Machines develops DMS technology to drive safety
for Automotive, Commercial Fleet, Off-road and Aviation. The
company has offices in Australia, USA, Europe and Asia, and
supplies technology solutions and services to industry leaders in
each market vertical.
www.seeingmachines.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFIFEEETIILIF
(END) Dow Jones Newswires
May 10, 2022 03:41 ET (07:41 GMT)
Seeing Machines (AQSE:SEE.GB)
Historical Stock Chart
From Sep 2024 to Oct 2024
Seeing Machines (AQSE:SEE.GB)
Historical Stock Chart
From Oct 2023 to Oct 2024