Terranet has completed prototype tests in lab during the first quarter according to plan
April 04 2024 - 3:30AM
UK Regulatory
Terranet has completed prototype tests in lab during the first
quarter according to plan
Terranet AB (publ) or the ("Company") today announces
that the Company has received positive results from the previously
communicated prototype tests performed in the lab during the first
quarter. The data generated validates the technology and enables
the company to initiate in-car tests in the near future and
continue the development of BlincVision.
During the tests, relevant measurements have
been carried out on an ongoing basis in areas such as latency,
object identification, object classification, light conditions and
eye safety, which have been successfully carried out and have
generated important data for continued product development. The
main purpose was to validate the functionality and capacity of the
system in a controlled environment.
Particularly satisfying was verifying our unique
and fast reaction time as well as a confirmation that the system
works in different lighting conditions. In parallel with the
initiation of the prototype tests in the car, the development of
BlincVision's performance and precision is now continuing.
Through this prototype test in the lab, the
Company has obtained crucial data that will now be translated into
relevant specifications which Terranet now can discuss in detail
with potential partners for the first time. This is an important
and significant milestone in the commercialization of the
technology, which is the basis for forging attractive
partnerships.
Magnus Andersson, CEO of Terranet,
comments:
"The results of the lab tests are incredibly encouraging and gives
us the confirmation we need to be able to launch the upcoming
prototype tests in car. These tests will then form the basis for a
major commercial agreement with one or more leading manufacturers
and suppliers in the automotive industry. We now intend to
accelerate the prototype tests in-car in order to be able to
present the results to the stock market as soon as possible, but
also to selected partners in the industry. During the month of
March, we have had in-depth discussions with several major car
manufacturers ahead of our in-car tests.
Going forward, we will update the market on the
outcome of the Company's in-car demo tests and its results, which
are expected to be available to us by the end of the second quarter
of the year."
For more information, please
contact
Magnus Andersson CEO
Email: magnus.andersson@terranet.se
About Terranet AB (publ)
Terranet is on a mission to save lives in urban
traffic.
We develop breakthrough tech solutions for Advanced Driver
Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect
vulnerable road users.
With a unique and patented vision technology, Terranet’s
anti-collision system BlincVision scans and detects road objects
multiple times faster and with higher accuracy than any other ADAS
technology available today.
Terranet is based in Lund, Sweden, and in the heart of the
European automotive industry in Stuttgart, Germany. The company is
listed on Nasdaq First North Premier Growth Market since
2017(Nasdaq: TERRNT-B).
Follow our journey at www.terranet.se
Certified Adviser to Terranet is Mangold Fondkommission AB,
08-503 015 50, ca@mangold.se.
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