Shares in Seeing Machines Ltd (AIM:SEE, OTC:SEEMF, FRA:M2Z), the computer vision company focused on transport safety, rose 7% to 4.54p after it secured a $31 million expansion of an existing automotive production programme with a major European carmaker.
The deal broadens the deployment of the company's Driver and Occupant Monitoring System, technology that uses in-cabin cameras to track driver attention and detect signs of fatigue or distraction, across additional vehicle models.
Production is expected to begin in the second half of 2026.
The expansion will be delivered through a key Tier 1 supplier, the intermediary manufacturers that integrate technology into vehicles on behalf of carmakers, and extends established programmes in China, the United States and Europe.
The additional models represent a further phase of adoption by the carmaker, which Seeing Machines did not name.
The company said the agreement reinforced its standing as a supplier of production-proven in-cabin sensing technology at scale, as manufacturers roll out monitoring systems across wider vehicle ranges in response to tightening safety regulations and growing consumer demand for safer vehicles.
Paul McGlone, chief executive, said the expansion was a significant milestone that reflected the strength of the company's technology and its relationships with carmakers and suppliers.
He said the addition of further vehicle platforms showed the scope to grow the value of programmes over time as customers extended deployment across their model ranges.
McGlone added that as in-cabin monitoring became a standard feature in vehicles globally, carmakers were placing greater value on proven, production-ready technology and successful delivery at scale.
He said this positioned the company well to capture further growth across its automotive pipeline.
The technology is designed to reduce road accidents caused by driver inattention, a growing focus for regulators in Europe and elsewhere as new vehicle safety rules come into force.
Broker Peel Hunt said: "Today's announcement provides further encouragement that Seeing Machines is maintaining its 50%-plus market share and that its customers value the quality of its product."
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