REG - Seeing Machines Ltd - European Commission Agenda Affirms SEE Tech

Seeing MachinesAnnouncement

18/05/2018 10:15

RNS Number : 5606O
Seeing Machines Limited
18 May 2018
 

Seeing Machines Limited
EC Safety Agenda Bolsters Importance of Driver Monitoring Technology
 
18 May 2018
Seeing Machines Limited (AIM: SEE) ("Seeing Machines" or the "Company"), an industry leader in computer vision technologies which enable machines to see, understand and assist people, was pleased to note the key recommendations of the European Commission issued in Brussels yesterday for "Europe on the Move: Commission completes its agenda for safe, clean and connected mobility".
Focused on the mobility sector, the Commission has put forward measures to lead an integrated policy for the future of road safety, with specific proposals to mandate that new models of vehicles are equipped with advanced safety features.
Seeing Machines welcomes this move as a significant advancement beyond the recent Euro NCAP "Pursuit of Vision Zero" Roadmap 2025, which identified Driver Monitoring Systems ("DMS"), which monitor operator attention state including drowsiness and distraction, as a primary safety feature, required by 2020 for any new on-road vehicle to achieve a full safety rating.
"Europe on the Move" will see all new cars, vans, trucks and buses sold in Europe fitted, as standard, with drowsiness and distraction monitoring, among 11 key safety features.
Seeing Machines' platform technology has the know-how to deliver real-time understanding of drivers and operators through tracking of heads, faces and eyes for DMS across multiple transport sectors to enhance safety.
Seeing Machines is already well established in the commercial fleet market with over 15,000 connected driver monitoring systems through the Off-Road (mining) sector, licensed exclusively to Caterpillar globally, and the commercial fleet and transport market. Guardian, the Company's fleet solution, is a retrofit technology that detects and minimises driver fatigue and distraction events and associated accidents in commercial fleet applications.
The Company's automotive DMS forms an integral part of General Motors' industry leading Super Cruise hands-free driving system for the highway, ensuring safe and confident vehicle operation. Further to this, Seeing Machines is currently working with two premium German OEMs to deliver driver monitoring for models due to start production from 2021.
Seeing Machines is a world leader in, and one of only a few technology companies which is already reliably supplying, automotive grade DMS. This development will have a significant impact on OEMs in automotive and heavy vehicle manufacturing and the Company expects that there will be an extremely positive impact on its near and long-term business outlook as a result.
Ken Kroeger, Chairman and CEO of Seeing Machines commented: "We are delighted with this news and have been waiting for some time for governments to formally recognise the importance of driver monitoring technology as a safety feature in advanced driver assistance systems. We believe Seeing Machines is best placed to supply automotive grade DMS and we look forward to shaping the future of safety with automotive and heavy vehicle manufacturers and suppliers for road users around the world."
 
Enquiries:




Seeing Machines Limited


www.seeingmachines.com  / +61 2 6103 4700




Ken Kroeger, Executive Chairman & Interim CEO
Media inquiries
 


Ken.Kroeger@seeingmachines.com
Sophie.Nicoll@seeingmachines.com




Cenkos Securities plc (Nominated Adviser and Joint Broker)


+44 131 220 6939




Neil McDonald
Beth McKiernan
Pete Lynch


















Canaccord Genuity Limited (Joint Broker)


+44 20 7523 8000




Simon Bridges
Richard Andrews
Alexander Napier








 
About Seeing Machines
Seeing Machines (LSE: SEE) is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company deploys its FOVIO machine learning vision platform to deliver real-time understanding of drivers through AI analysis of heads, faces and eyes for Driver Monitoring Systems (DMS), which monitor driver attention state including drowsiness and distraction. DMS is increasingly considered a core automotive safety technology as well as an enabling technology for ADAS/Autonomous Driving. The Company's pioneering commercial fleet solution (Guardian) delivers an after-market, in-cabin safety intervention system with 24/7 monitoring and cloud analytics services delivered on a telematics SaaS basis. The Company also serves Aviation, Rail and Off-Road markets, and they are seeking to innovate in new markets. Based in Canberra, Australia with the intention to grow in the USA and Europe, the Company delivers multi-platform solutions from embedded software and processors to aftermarket system and service solutions to industry leaders globally. www.seeingmachines.com.
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCFKFDDCBKKKPD