Seeing Machines Limited (LON:SEE) is to provide its FOVIO driver monitoring systems to a US automotive original equipment manufacturer (OEM) which could net the company over A$7mln in revenue.
The Aussie-based company, which develops monitoring technologies for vehicle operators such as truck drivers and pilots, said it had been appointed by Michigan-based auto safety group Joyson Safety Systems (JSS) to provide FOVIO to the OEM as it expanded the roll-out of a driving system across more vehicle models.
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With mass production of the new models scheduled from 2020, the firm said the expansion could net it over A$7mln in lifetime revenues.
FOVIO uses advanced machine vision technology to precisely measure and analyse driver attention state, focus, drowsiness and impairment levels to provide ADAS (advanced driver assistance systems) with inputs in real time.
Seeing Machines now has seven production programs covering six global auto OEMs which are expected to deliver more than A$150mln in revenues between 2021 and 2024.
"We are delighted to have further validation of our technology with this program award to extend the rollout of the FOVIO DMS across more vehicles for this major customer”, said Nick DiFiore, general manager of Automotive at Seeing Machines.
"Our team has worked closely with JSS to deliver this program and we are proud to continue our association."
In early trading on Wednesday, Seeing Machines shares were down 0.2% at 3.1p.