Seeing Machines appointment with Japanese OEM

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	[phone]
Paul McGlone - CEO Sophie Nicoll - Corporate Communications
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)		[phone]
Alex Price Nick Adams
Lionsgate Communications (Media Enquiries) Jonathan Charles	[phone]

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

 

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