Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) CEO Paul McGlone talked with Proactive’s Tylah Tully about the company’s groundbreaking collaboration with Mitsubishi Electric Mobility Corporation.
Mitsubishi now holds a 19.9% stake in Seeing Machines, following a strategic agreement.
McGlone highlighted how this partnership enhanced the company’s balance sheet and supported expansion in Japan's automotive market, with a focus on leveraging Mitsubishi's global distribution network.
Key details include Seeing Machines' plans to distribute its Guardian Generation 3 product through Mitsubishi's US network and beyond.
Additionally, McGlone outlined potential growth in new verticals such as factory automation and public utilities, thanks to Mitsubishi's diverse expertise.
Despite this partnership, Seeing Machines remains committed to other collaborations.
McGlone reaffirmed the company's primary goal of achieving a cash flow breakeven run rate by the end of the fiscal year and moving toward profitability.
He emphasised that this investment alleviated shareholder concerns about financial stability.