RCS - Microlise Group PLC - New Products

MicroliseAnnouncement

11/07/2024 07:00

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RNS Number : 9465V  Microlise Group PLC  11 July 2024

11(th) July 2024

 

Microlise Group plc

("Microlise", "the Group" or "the Company")

 

New Products

 

Microlise Group plc (AIM: SAAS), a leading provider of SaaS based technology
solutions to fleet operators and manufacturers, is pleased to announce the
launch of a series of new products, all of which are fully integrated with the
Group's wider product portfolio.

 

The addition of these products focuses on bringing USP's to the Microlise
transport and logistics product offering, ensuring strategic growth within
both new and existing customer base by providing upsell opportunities and
strengthened new customer acquisition capabilities.

 

Driver Hazard Warning (DHW)

 

HGVs have many blind spots where vulnerable road users (VRUs) such as a
cyclist, e-scooter or delivery moped rider cannot be seen. DHW is a 360-degree
warning system that alerts HGV drivers if a VRU such as a cyclist, e-scooter
or delivery moped rider is near their vehicle. HGV accidents involving VRUs
are 15% more likely to result in a fatality, in comparison to a normal
passenger vehicle. DHW is designed to help prevent such accidents.

 

DHW also alerts drivers to static hazards in their environment, such as low
bridges. In 2022 there were c.1800 bridge strikes in the UK with an average
cost of £13,500 per accident. This can rise to as much as £800,000 for a
single collision, particularly in the event of striking a railway bridge,
where subsequent delays to train services are passed on to hauliers.

 

DHW has been developed alongside the Flare products procured by Microlise on
acquiring the K-Safe business in December 2023. DHW proactively helps
transport and e-mobility companies prevent accidents thereby reducing risk of
injuries or fatalities and the related costs and insurance premiums. The
addition of this new product adds upsell opportunities for existing customers
with no additional hardware requirements.

 

Direct Vision Standards 2024

 

Microlise has developed a Progressive Safety System that ensures vehicles
comply with London's Direct Vision Standards 2024 (DVS) which comes into force
in October 2024, as part of the Mayor of London's Vision Zero plan to
eliminate deaths and serious injuries on London's transport network by 2041.
The updated DVS solution ensures that HGVs can operate safely and legally
within London.

 

The new DVS system adds to the existing 2023 compliant DVS solution, by using
AI-enhanced blind-spot and moving-off sensors with in-cab warnings, designed
to detect pedestrians and cyclists while eliminating false alerts from
stationary objects. The solution also integrates seamlessly with the wider
multi-camera system offering comprehensive all-round visibility for drivers.

 

By leveraging advanced technology, fleet operators can not only comply with
the new DVS regulations but also benefit from detailed alerting and analysis
reports, along with incident footage recording to protect drivers from
liability.

 

Microlise's solution is available for both upgrades to existing systems and
complete installations for new vehicles, ensuring all fleets operating in the
London area are prepared for the 2024 standards.

 

The deadline of October 2024 is driving upgrades from existing customers and
new customer implementations to ensure readiness for the new standard.

 

Proximity Beacons

 

Powered by Bluetooth Low Energy (BLE) technology, Microlise's Proximity
Beacons offer customers an asset tracking system that creates a low-cost,
consolidated view of all assets under management. The product utilises the
large mesh network created by the existing Microlise telematic units fitted to
customer vehicles, to ping location data back to customers within the
Microlise platform. UK retailers reported £7.9 billion in losses from
warehouses and distribution centres in 2023, with further impacts through
customer dissatisfaction and increased complexity of inventory management. The
proximity beacons aim to minimise the loss of unpowered assets, help safeguard
high-value cargo against theft, and give customers improved visibility of
their entire fleet.

 

The Beacons utilise the existing Microlise mobile network across the UK and
provide monitoring for assets which were previously uneconomic to track, thus
providing a new market segment for and cross sell opportunities.

 

 

Nadeem Raza, CEO of Microlise, commented: "In line with our strategic goals,
we continually strive to offer the best, most comprehensive suite of solutions
to our clients and we are delighted to announce the launch of this series of
new products. Safety, compliance, and asset tracking are all integral to the
success of our clients' businesses. We look forward to updating the market
with the launch of new and innovative products as they occur."

 

 

Notice of Trading Update

Microlise plans to publish its half year trading update on Tuesday 30(th) July
2024.

 

 

For further information, please contact:

 

 Microlise Group plc
 Nadeem Raza, CEO                                                   C/O SEC Newgate

 Nick Wightman, CFO
 Singer Capital Markets (Nominated Adviser & Broker)
 Steve Pearce / James Moat / Harry Gooden                           Tel: 020 7496 3000
 SEC Newgate (Financial Communications)
 Bob Huxford / Molly Gretton / Harry Handyside                      Microlise@secnewgate.co.uk

 

About Microlise

Microlise Group Plc is a leading provider of transport management software to
fleet operators, helping them to improve efficiency, safety, and reduce
emissions. These improvements are delivered through reduced fuel use, reduced
mileage travelled, improved driver performance, fewer accidents, elimination
of paperwork and delivery of an enhanced customer experience.

 

Established in 1982, Microlise is an award-winning business with over 400
enterprise clients. With 463 employees based at the Group's headquarters in
Nottingham in the UK, the Company also has offices in France, Australia, and
India, with a total global staff base of over 670.

Microlise is listed on the AIM market of the London Stock Exchange (AIM: SAAS)
and qualifies for the London Stock Exchange's Green Economy Mark.

 

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