logo-loader
Seeing Machines Limited

Seeing Machines wins four commercial fleet contracts in New Zealand

“We have worked closely with our distribution partners to revise commercial terms and focus on accelerated installations of Guardian around the world.”

driver
Guardian tracks eye movements and other driver actions to prevent driver fatigue and distraction-related events

Seeing Machines Ltd’s (LON:SEE) has seen improving commercial momentum for its Guardian driver-monitoring technology after changing distributor terms, leading to four new fleet contract wins in New Zealand.

Based on the new terms, AutoSense, the AIM-listed company’s master distributor for New Zealand, intends to treble its current installed base by the end of 2019.

READ: Seeing Machines wins contract with major North American self-driving car company

The four new contracts cover a total of more than 1,400 units, with the largest being New Zealand-listed TIL Logistics Group along with three local transport operators.

AutoSense boss Charles Dawson said signing such deals “signifies the maturing of our transport industry as they increasingly take driver training and road safety seriously”.

Guardian, which employs AI to track eye movements and other driver actions to prevent driver fatigue and distraction-related events in real time, has been proven to reduce fatigue events by more than 90%. Seeing Machines also provides technology to monitor backup drivers in self-driving cars.

Paul McGlone, who has stepped in as chief executive at Seeing Machines as part of an ongoing restructuring, added: “We have worked closely with our distribution partners to revise commercial terms and focus on accelerated installations of Guardian around the world.

“AutoSense is a great example of that work and we are very happy to see this growth across New Zealand.”

In afternoon trading, shares in Seeing Machines were 0.8% higher at 3.27p.

 -- Adds share price --

Quick facts: Seeing Machines Limited

Price: £0.04

Market: AIM
Market Cap: £137.97 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Seeing Machines Limited named herein, including the promotion by the Company of Seeing Machines Limited in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Seeing Machines 'focused on implementation, delivery and monetising its IP'

Seeing Machines PLC's (LON:SEE) Paul McGlone and Nick DiFiore caught up with Proactive's Andrew Scott while in London to update on progress across the firm's divisions. McGlone says the big focus for them going forward is implementation. ''We have a number of large contracts with OEMs...

on 10/7/19

2 min read