Shares in Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) rose 5% on Friday after the company secured a five-year supply agreement with a UK bus manufacturer to install its driver monitoring systems on new vehicles destined for Europe.
The London-listed group develops artificial intelligence technology that tracks driver alertness. Its Guardian Generation 3 system will now be fitted at the factory on new buses, expanding a partnership that has already seen about 200 vehicles equipped with the kit. The manufacturer produces more than 1,700 buses a year.
The deal comes ahead of the European Union’s General Safety Regulation, which from July 2026 will require new buses, lorries and other heavy vehicles to include distraction-detection technology.
Seeing Machines is also pursuing approvals with four other European vehicle makers in a process known as homologation, which could cover more than 4,000 vehicles annually. It is in talks with a major oil and gas operator about expanding Guardian across its continental fleet.
Chief executive Paul McGlone called the agreement “a major step” as the company pushes its technology across Europe ahead of the new rules.
The shares rose 0.13p to 2.62p.