REG - Seeing Machines Ltd - Seeing Machines appointment with Japanese OEM

Seeing MachinesAnnouncement

10/05/2022 07:00

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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)  +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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