TIDMSEE
RNS Number : 0089P
Seeing Machines Limited
03 June 2015
Seeing Machines Receives First Order for New Fleet Product
Maintains momentum in other key markets, including new
installation with Boeing
3 June 2015
Seeing Machines (AIM: SEE), the AIM-listed company with a focus
on operator monitoring and intervention sensing technologies and
services, is pleased to announce that it has received its first
order for its new Seeing Machines Fleet product. Seeing Machines
also provides an update on its continued progress in other target
markets.
Seeing Machines Fleet - product launched, first orders and
shipments
Seeing Machines' Fleet product is a driver monitoring system
designed specifically by the Company for trucks and buses. It
provides drivers and supervisors with real-time notification when
drivers are fatigued or distracted. Other similar products in this
market only allow for fatigue risk mitigation as a post event
intervention.
The Company has received its first order for 750 units of the
Fleet product, from its distributor Insurance Underwriting Managers
(IUM) in South Africa. IUM is a leading South African insurance
underwriter that focuses on the commercial fleet market. IUM is now
offering the Fleet product to its customers with an expectation
that driver behaviour will improve, reducing accidents and
associated insurance costs.
Seeing Machines' outsourced manufacturing partner began
production of the Fleet product in mid-May, and this order of 750
units will be delivered to IUM during June.
The Company is building a strong sales pipeline for the Fleet
product, which is offered to customers on either a capex or opex
model combined with recurring monthly monitoring service
revenues.
Seeing Machines launched the Fleet product in the US in late
April at the National Private Truck Council (NPTC) Annual
Conference in Cincinnati and is now following through on the large
number of positive sales leads generated through the
conference.
Capacity and the capability to serve the significant demand
expected from the truck and bus market is rapidly being developed.
This includes allocating more of our sales and marketing effort to
this market and recruiting a new head of sales with experience in
the fleet market. Expressions of interest received from potential
distributors of the Fleet product in several markets are being
assessed.
Aviation sector - technology installed in a Boeing flight
simulator
The Company believes there are significant opportunities for its
technology to be deployed in the aviation sector. Several months
have been invested in evaluating the industry and discussing these
opportunities with a range of leading aviation companies,
regulators and other stakeholders.
The aviation industry is predicting an enormous increase in
demand for pilots, with forecasts that around half a million new
pilots will be required over the next ten years(1) . Current
methods of selecting and training pilots will struggle to meet this
demand. Seeing Machines' technology can help make the selection,
training and licensing processes more efficient, effective and
smarter without impacting on the relevant and demanding standards
of the industry.
(1) Flight International, December 2014
Seeing Machines is currently engaged in a successful research
collaboration with Boeing Research & Technology - Australia
(BR&T-A), providing the eye tracking technology that monitors
and measures a pilot's situational awareness. The jointly developed
solution was recently installed in a Boeing Flight Services 737
Flight Simulator at the Brisbane International Airport.
Using Seeing Machines' latest commercial gaze-tracking
technology, combined with BR&T-A's data handling and analytics
software, the system provides real-time evaluation of a pilot's
instrument scan and flight deck interaction. From the extraction of
data regarding where a pilot is looking within the flight deck, the
pilot's instrument scan pattern is compared to a database of
expectations relative to the phase of flight and aircraft profile.
This analysis enables the automatic detection of performance
breakdowns regarding the pilot's interaction with the flight deck,
which can be relayed to the instructor in real time using a
wireless tablet PC.
Preliminary results obtained from a recent study conducted with
operational pilots and check captains from an Australian national
airline has proven to be very successful. The accuracy and
stability of the eye-tracking system has met or exceeded all
expectations, providing a capability that mitigates significant
technical risk associated with the intended application of the
technology within a variety of current and future aerospace
applications.
The Company's next steps in Aviation will include further data
collection and collaborations with other Boeing stakeholders,
International Airlines, Ab-Initio Flight Training Schools and
on-going discussions with the relevant Aviation Regulators.
Caterpillar alliance - beyond mining
Seeing Machines and Caterpillar continue to work together
through the agreed phases of our global alliance agreement.
Caterpillar dealers are continuing to sell the DSS product to their
customers across Caterpillar's expanded fields of operation, with
solid sales results despite challenging conditions in the mining
industry.
In March the Company signed a marketing and licence agreement
under which Caterpillar Safety Solutions will provide 24/7
monitoring and analytical services to their global customers using
Seeing Machines' DSS products.
Caterpillar Safety Solutions, in tandem with global Cat dealers
and Seeing Machines, will offer customers a unique, end-to-end
fatigue risk management solution, incorporating Seeing Machines'
DSS in-vehicle protection and 24-hour DSSi operator monitoring
service provided through Caterpillar's Condition Monitoring
Centres.
This agreement with Caterpillar extends the reach of the DSS
services from mining, into Caterpillar's broader industries
including construction, aggregate and quarry and forestry, and will
be accessible through Caterpillar's global dealer network.
Automotive
In the automotive market the Company is continuing to work with
Takata to integrate the Company's technology into passenger cars as
part of the Advanced Driver Assistance Systems, or "ADAS"
initiatives. Through Takata the Company has secured a contract to
develop driver monitoring systems for a global car maker, as
previously announced. This project is progressing on schedule.
At a recent meeting at the Company's head office in Canberra,
senior leaders from Takata Japan and North America reaffirmed that
driver monitoring systems are a critical component of their long
term product roadmap and that they are committed to the mutually
exclusive partnership with Seeing Machines.
The Company continues to work closely with Takata's electronics
and new products division to jointly respond to requests for
quotation from a number of major OEMs. Planning is well advanced to
deliver multiple technology demonstration units to a number of OEMs
to help them meet their launch targets for semi-autonomous vehicles
and ADAS technologies.
Continued progress in other target markets
In the rail industry the Company continues to work with partner
Electro-Motive Diesel, Inc. (EMD), part of the Caterpillar group,
to develop in-cab operator fatigue and distraction monitoring
systems for use in locomotives and other railway vehicles. Recent
rail accidents have led to increased interest, and trials of Seeing
Machines technology are expected to begin with railway customers in
multiple markets over the next few months.
Finally, the Company also continues to progress opportunities
with Samsung Electro-Mechanics Corporation to facilitate joint
development of face and eye tracking technology for the consumer
electronics industry. At this stage the Company's investment of
resources in this market is modest, but it remains a key target
market given the large size of the consumer electronics market and
the potential for consumer devices to reach into other markets over
time.
Seeing Machines expects to provide a post financial year end
trading update in July 2015.
Enquiries:
Seeing Machines Limited
Ken Kroeger, Managing Director +61 2 6103 4700
and CEO Ken.Kroeger@seeingmachines.com
James Walker, Finance Director +61 2 6103 4700
James.Walker@seeingmachines.com
US media inquiries: +1 732 620 0033
Anne Donohoe Anne.Donohoe@seeingmachines.com
finnCap Ltd, Broker for Seeing Machines
Ed Frisby / Christopher Raggett,
Corporate Finance +44 20 7220 0500
Joanna Weaving, Corporate Broking
Newgate, Investment Communications for Seeing Machines
Robyn McConnachie Tel: +44 20 7653 9852 / Mob: +44
7540 706 191
Tim Thompson Robyn.mcconnachie@newgatecomms.com
Lois Engstrand Tel: +44 20 7653 9858 / Mob: +44
7710 718 649
Tim.thompson@newgatecomms.com
Tel: +44 20 7653 9844 / Mob: +44
7540 248 478
Lois.engstrand@newgatecomms.com
About Seeing Machines
Seeing Machines, (AIM: SEE) is focused on operator monitoring
and intervention sensing technologies and services. With more than
15 years of experience, Seeing Machines uses advanced detection and
prevention safety assistance technologies to track eye and facial
movement in order to monitor fatigue, drowsiness and distraction
events, like microsleeps, texting and cell phone use as they occur,
while providing for a real-time intervention strategy, which
improves operator, driver and environmental safety, preserves
assets, and reduces risk. Seeing Machines' technology is used
worldwide across the automotive, mining, transport and aviation
industries; as well as many of the leading academic research groups
and transportation authorities. Seeing Machines is headquartered in
Australia and has offices in Tucson, Arizona, Mountain View,
California and Santiago, Chile. The Company has strategic alliances
with Caterpillar, TK Holdings and Eye Tracking Inc and counts
companies such as BHP Billiton, Freeport McMoran, Toll Holdings and
Boeing amongst its customers.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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