REG - Seeing Machines Ltd - Seeing Machines awarded additional OEM program

Seeing MachinesAnnouncement

22/12/2022 07:16

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RNS Number : 5959K  Seeing Machines Limited  22 December 2022

This announcement contains inside information

 

Seeing Machines Limited ("Seeing Machines" or the "Company")

 

 

22 December 2022

 

Seeing Machines appointed to deliver additional DMS OEM program

 

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 Tier-1 customer to deliver its FOVIO Driver and Occupant Monitoring
System (DMS/OMS) for an additional program with an existing large
European-based global automotive group (OEM) customer.

 

This program, to be delivered via Seeing Machines' embedded Driver Monitoring
Engine (FOVIO e-DME software library), is geared to lower integration cost and
will substantially extend DMS and OMS reach across a broad range of vehicle
models (including entry level vehicles), while addressing both regulatory
requirements and in-cabin comfort and convenience oriented features. The
program carries an initial lifetime value of US$32M (A$45M) and is scheduled
to start production in 2024.

 

Seeing Machines continues to grow as an automotive technology leader in Driver
and Occupant Monitoring Systems, having now won a total of 15 automotive
programs spanning 10 individual OEMs, covering more than 160 distinct vehicle
models. The cumulative initial lifetime value of all OEM programs that Seeing
Machines has won to date now stands at US$321M (A$435M).

 

Nick DiFiore, SVP and GM Automotive commented:

 

"This is a great example of our existing Tier 1 and OEM relationships and
cooperation leading to the increasingly extended reach of our technology
across the global passenger vehicle landscape, which is not only driven by
driver safety regulation but also an increasing demand for interior monitoring
systems extending the comfort, convenience, and safety of all vehicle
occupants."

 

The person responsible for this announcement is Paul McGlone, CEO.

 

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

 Ben Burnett

 Dentons Global Advisors (Media Enquiries)  +44 20 7664 5095

 James Styles

Jonathon Brill

 

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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