SEE Seeing Machines Limited

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Seeing Machines Limited

28 April 2021

28 April 2021

RNS REACH

Seeing Machines Limited

DMS central to improved safety on US roads

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, welcomes the building momentum in the USA for mandatory driver monitoring system (DMS) technology to assist in improving safety on roads.

As technology in cars continues to evolve, and semi-autonomous driving features become available across more vehicle models globally, lawmakers have introduced legislation, the SAFE (Stay Aware for Everyone) Act in the Senate of the United States, that requires the Department of Transportation to research driver inattation and misuse of advanced driver assistance technology over the coming two years, with the ultimate intention to determine whether DMS technology is to be required on all new vehicles within four years, across the country.

Further, the Alliance for Automotive Innovation, a trade group that represents automotive manufacturers, in consultation with the Motor & Equipment Manufacturers Association, today released its "Level 2 Driver Monitoring Principles" . This document focuses solely on DMS and requires the technology be provided as a standard feature in any vehicle with a Level 2 system, incorporating driver warnings with the ability to re-engage the driver (and understand to stop alerts when the driver is engaged) as well as considering the requirement for the DMS to be camera-based.

These developments in the US, one of the world's largest car markets, further strengthens the Company's view that DMS is fundamental to the automotive transport sector and that the fitment rate will accelerate substantially over the coming years, globally. Seeing Machines' view remains that DMS installations will increase from 1% in 2019 to more than 70% of all new vehicles by 2026. Momentum in the US closely follows Europe where a range of safety features, including DMS for all new cars, vans, trucks and buses is required from 2024.

Paul McGlone, CEO of Seeing Machines commented: "Seeing Machines exists to improve safety and this week's activity in the US reinforces our reason for being. We have been working on our leading DMS technology for the better part of twenty years, and now with four US OEM customers, expect our position across this market to grow considerably.

"I also note that this momentum has come during April, the NHTSA declared Distracted Driver Awarness Month, demonstrating more reinforcement around the growing call for focus on road safety across the USA and around the world."

Enquiries:

 
 Seeing Machines Limited                           +61 2 6103 4700 
 Paul McGlone - CEO 
  Sophie Nicoll - Corporate Communications 
 
 Cenkos Securities plc (Nominated Adviser and 
  Broker) 
  Neil McDonald 
  Pete Lynch                                      +44 131 220 6939 
 
 Stifel Nicolaus Europe Limited (Joint Broker)    +44 20 7710 7600 
 Alex Price 
  Nick Adams 
 
 

Lionsgate Communications (Media Enquiries) +44 07791 892509

Jonathan Charles

Seeing Machines (LSE: 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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April 28, 2021 02:09 ET (06:09 GMT)

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