REG - Seeing Machines Ltd - Largest Driver & Occupant Monitoring System Award

Seeing MachinesAnnouncement

16/12/2021 07:00

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RNS Number : 8319V  Seeing Machines Limited  16 December 2021

This announcement contains inside information

 

Seeing Machines Limited

 

16 December 2021

 

Largest Driver and Occupant Monitoring System award with OEM #8

 

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 and Occupant Monitoring System (OMS). This contract win is with a
leading German Automaker and brings the total OEMs with which Seeing Machines
has won business to eight.

 

This program covers an expansive number of vehicle models with mass production
scheduled from early 2024 and an initial lifetime value of A$125 million.
While representing the largest awarded DMS program to date, there also remains
significant upside potential based on OEM expansion plans. Delivery is via the
Company's deeply embedded Driver Monitoring Engine (FOVIO e-DME software
library) configured for both driver and occupant state sensing, enabling a
rich set of regulated and premium safety and convenience features.

 

Seeing Machines continues to grow as an automotive technology leader in Driver
and Occupant Monitoring Systems, having won a total of 11 automotive programs
for 8 individual OEMs, spanning an estimated 95 vehicle models. Delivered with
a range of proven global automotive Tier-1 customer/partners, the cumulative
initial lifetime value of all Seeing Machines won programs stands at more than
A$325 million.

 

Nick DiFiore, SVP and GM Automotive commented:

 

"This award is special as it is underpinned by many of the key market tenets
we have been planning for and investing in, to differentiate Seeing Machines.
This includes the rapid DMS market expansion due to automotive safety
regulations including Euro NCAP and GSR, the move to combine occupant
monitoring with driver monitoring for premium cabin features, and the need to
achieve improved system cost, performance, and reliability at scale through
smart system design, including advanced optical path developments and deeply
embedded AI software using optimized accelerated heterogeneous processing.

 

While this award affirms both our strategic and technology direction, and our
continued leadership position in the automotive DMS/OMS space, the size of the
award also marks an unmistakable market turning point from DMS as a niche need
for semi-autonomous driving safety to a mainstream Advanced Driver Assistance
(ADAS) imperative."

 

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)  +44 7791 892509

 Jonathan Charles

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 (http://www.seeingmachines.com)

 

 

 

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