Seeing Machines Limited (AIM: SEE), the advanced computer vision technology company that designs AIpowered operator monitoring systems to improve transport safety, announces that it has entered a referral agreement with Mitsubishi Electric Europe B.V. (the “Agreement”) to enable greater driver safety across the region.
The Agreement comes as automakers around the world prepare to comply with the European Union’s new Vehicle General Safety Regulations (GSR) mandating the use of direct Driver Monitoring System (DMS) technology to reduce the risks associated with distracted driving. The Agreement builds on the momentum of the successful collaboration with Mitsubishi Electric Automotive America, Inc. announced in February this year, which is already delivering a growing pipeline of opportunities across the Americas. Initially, Mitsubishi Electric Europe B.V. will work with Seeing Machines to leverage Mitsubishi Electric’s strong fleet connections including within logistics, distribution and maintenance to accelerate sales of the Company’s cutting-edge Guardian Generation 3 driver monitoring solution via these channels.
Mitsubishi Electric Europe B.V. is a wholly owned subsidiary of Mitsubishi Electric Corporation operating extensively across Europe, with a network of branches and customers in numerous countries. The collaboration will also allow Seeing Machines to leverage the extensive direct relationships Mitsubishi Electric Europe B.V. has with truck and bus OEMs across the region to better promote Guardian Generation 3 as an industry-leading solution, enabling automakers to achieve compliance with Advanced Driver Distraction Warning (ADDW) system requirements under the European Union’s GSR. This will also facilitate the expansion of Guardian Generation 3 business into a range of other potential sectors (including rail) through Mitsubishi Electric Europe B.V.’s significant existing presence in these markets.
Rob Noon, Automotive Business Unit President at Mitsubishi Electric Europe B.V., said: “We’re delighted to partner with Seeing Machines to support the expansion of their world-class safety technology across Europe. This agreement reflects our shared commitment to reducing transport risk, and we’re proud to support Seeing Machines in scaling its impact across a range of transportation industries.”
Additionally, Seeing Machines has renewed its distributor agreement (the “Distributor Agreement”) with Connect Source, Australia’s largest distributor of Guardian. This Distributor Agreement will support a range of new sales opportunities across Australia, including immediately with a large Australian utility company who will be installing Guardian Generation 3 across 550 vehicles within its fleet initially, with a view to full implementation over the coming 6 months, representing the Company’s largest single order for Guardian Generation 3 to date.
Paul McGlone, CEO of Seeing Machines, commented: “Our relationship with Mitsubishi Electric Automotive America, Inc. is already delivering positive results, as demonstrated by the strong progress we have made in the Americas and the near-term opportunities it’s creating. Extending this approach into Europe with Mitsubishi Electric Europe B.V. represents a natural next step as our broader partnership with Mitsubishi Electric Mobility Corporation continues to grow. Mitsubishi Electric Europe’s world leading, proven reputation and established relationships position them as an ideal partner to bring our Guardian technology to new customers across the region as regulatory deadlines take effect, and I’m particularly excited about the significant opportunity this will unlock for us within the OEM sector for After Manufacture (factory-fit) fitment. Working with strategic partners across the world is key to our success, particularly when it comes to the acceleration of Guardian sales into commercial fleets, and I am pleased to have renewed our Distributor Agreement with Connect Source in Australia, which leaves us well positioned to drive sales in an important market.”
This announcement contains inside information under the UK Market Abuse Regulation. The person responsible for arranging for the release of this announcement on behalf of the Company is Paul McGlone, CEO.
SOURCE: Seeing Machines
