Seeing Machines Ltd (AIM:SEE, OTC:SEEMF), a leader in advanced computer vision technology, has entered into a strategic partnership with Collins Aerospace, a business unit of defence giant, Raytheon Technologies Corp (NYSE:RTX).
Together the pair aims to develop a pioneering fatigue risk management solution for the commercial aviation sector. It will be based around Seeing Machines' embedded Driver Monitoring Engine (eDME) and will be optimised using its Occula Neural Processing Unit
Financially, the partnership includes non-recurring engineering revenue (NRE) of US$2.65 million, payable to Seeing Machines over two years, earmarked for product development and certification.
It follows the companies' exclusive intellectual property agreement and comes in addition to an associated US$10 million license payment. The joint venture will focus on mitigating fatigue-related risks that could impair pilot performance, thereby enhancing flight safety.
Seeing Machines' chief executive Paul McGlone told investors: "Based on our deep understanding and application of human factors science, this initial capability will support pilots and crew for the foreseeable future, perhaps more than 20 years, across many different aircraft types.
"Working with Collins, the world's leading tier-one avionics supplier, perfectly complements our foundational position across the aviation industry with proven application of eye-tracking technology and commercial deals across aircraft, simulator and console operators."