REG - Seeing Machines Ltd - Seeing Machines collaboration in optics technology

Seeing MachinesAnnouncement

09/05/2022 07:00

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RNS Number : 7000K  Seeing Machines Limited  09 May 2022

 

Seeing Machines Limited

 

9 May 2022

 

Seeing Machines announces collaboration with new state-of-the-art optics
technology company

 

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 entered into a strategic
collaboration with a technology startup that specialises in image-sensor and
optical systems design, in order to create an anticipated step-change in the
performance of cabin-monitoring technology.

 

The Company has obtained a world-wide perpetual exclusive licence which
applies to both automotive and aviation market sectors, for A$5m payable over
three years, in order to access and customise the optical technology to the
specialised field of cabin-monitoring.

 

The technology licence falls under the Company's "embedded systems approach"
that recognises the value added through iterative "co-design" of (i)
algorithms, (ii) processing IP and (iii) optics IP, whereby each element is
optimised in the context of the other. Applied consistently over time, the
systems approach has yielded a technology portfolio that can be used to build
cabin-monitoring products that show distinct reliability, accuracy, power
consumption and cost advantages.

 

The addition of the additional optics IP to the Company's technology portfolio
is expected to significantly enhance the reliability of core safety features
of cabin-monitoring systems as well as opening the door to new forms of
in-vehicle user experiences. Ultimately, the licence is expected to improve
the probability of winning new automotive awards, whilst simplifying the
complexity and cost of delivering to the most demanding customer requirements.
In the future, when the technology is deployed into vehicles, sales royalties
may be payable to the licensor.

 

At this time, the details of the optical technology cannot be revealed due to
multi-year development timeframes and the need to maintain secrecy and protect
the Company's IP.

 

Paul McGlone, CEO of Seeing Machines commented: "Seeing Machines vision,
processing and optics experts are continually evaluating technologies that may
influence or disrupt the cabin-monitoring market and have identified and
carefully validated a technology that we believe will play a key role in the
future of modern vehicles.

 

"We look forward to revealing more about this technology at the right time.
For now, we have work to do to deeply integrate this technology into our stack
and will be working closely with key customers preparing and fine-tuning our
next-generation of cabin-monitoring systems."

 

 

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

 Ross Poulley

 Lionsgate Communications (Media Enquiries)                     +44 7791 892509

 Jonathan Charles

 

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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