Terranet AB shares an update to the market in a CEO letter, April 2023
April 13 2023 - 2:00AM
Terranet AB shares an update to the market in a CEO letter, April
2023
Dear Shareholder. With the first
quarter nearing its end, the staff at
Terranet’s offices in Lund and Stuttgart
are working intensively to get BlincVision ready to demonstrate for
potential customers.
BlincVision is an anti-collision system for vehicles with a
mission to save lives of vulnerable road users in urban traffic.
The technology is based on a unique and patented innovation that
combines laser with an event sensor, also known as event camera.
The combination generates very fast reaction times, up to ten times
faster compared to available systems on the market today. At a
speed of 70 km/h, BlincVision will reduce the stopping distance by
up to 6 meters, that will save lives! BlincVision is being
developed for the rapidly growing ADAS (Advanced Driver Assistance
System) market and for the market of autonomous vehicles.
BlincVision consists of three different main components when
integrated into a vehicle: a laser scanner, two sensor modules and
a computer unit.
We recently received the first version of BlincVision's laser
scanner from Prevas Development AB and our engineers have started
the testing in the lab in Lund. The initial results are very
promising, however, we want to make further evaluations before we
can reveal more details. Upon demonstrating the desired
functionality, the laser scanner will be integrated into a
pre-production prototype in a vehicle that can be presented to
prospective customers. Our ambition is to have the prototype ready
during the year.
The feasibility studies of our sensor module have entered the
next phase and we continue our cooperation with our international
partners. We are satisfied with the initial results, and we are now
focusing on further improving performance and selecting the partner
who can produce a prototype of the sensor module.
The commercialization process of BlincVision is a high priority.
Recently, we decided to expand Terranet's global business
development network with a senior advisor in the automotive
industry. He will focus on the Asian market on a consultancy basis.
So far, the network has mainly targeted the European market,
however, we see a great potential for sales growth by securing
relationships with OEM and Tier1 manufacturers worldwide. A second
important factor for this process is the Nomination Committee's
proposal to elect Torgny Hellström to the Board. The company’s
opportunities to quickly commercialize BlincVision and advance the
further business development are strengthened by Torgny’s relevant
background and extensive network of contacts. At the same time, we
continue to recruit engineers and project managers to the offices
in both Lund and Stuttgart to ensure more and faster progress in
our product development.
A week ago, I visited the tech AD conference in Berlin together
with our CTO, Nihat Kücük. Digitalization is transforming the
automotive industry and creating new kinds of vehicles with
advanced software that allows for a faster implementation of new
driver assistance systems in vehicles. A prerequisite for fully
autonomous vehicles is that new complementary driver assistance
systems such as BlincVision are integrated.
More events and meetings are expected in the coming months. At
the end of May, we will have the opportunity to present Terranet
and BlincVision when we participate at VECS in Gothenburg. VECS is
one of Northern Europe's largest trade fairs focusing on mobility,
electrification and connected vehicles. We have also been invited
to the international tech conference ICA Summit in Frankfurt in
May. The conference will highlight what we can expect to see on the
roads in the future and how rapidly new technologies are redefining
the automotive industry.
Looking forward to keeping you updated on all the exciting
things going on at Terranet right now.
Magnus AndersonCEO, Terranet AB
Lund, April 2023
For more information, please contactMagnus
Andersson, CEOE-mail: magnus.andersson@terranet.se
About Terranet AB (publ)
Terranet is on a mission to save lives in urban traffic.
We develop breakthrough tech solutions for Advanced Driver
Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect
vulnerable road users.
With a unique patented vision technology, Terranet’s
anti-collision system BlincVision laser scans and detects road
objects up to ten times faster and with higher accuracy than any
other ADAS technology available today.
Terranet is based in Lund, Sweden, and in the heart of the
European automotive industry in Stuttgart, Germany. The company is
listed on Nasdaq First North Premier Growth Market since
2017(Nasdaq: TERRNT-B).
Follow our journey at www.terranet.se
- Terranet_PM_vd brev april 2023 ENG
Terranet Holding Ab (LSE:0GH9)
Historical Stock Chart
From Jun 2024 to Jul 2024
Terranet Holding Ab (LSE:0GH9)
Historical Stock Chart
From Jul 2023 to Jul 2024