SenSen Networks Ltd (ASX:SNS, OTCQB:SNNSF) has been awarded a contract to deliver rapidly deployable AI solutions by Australia’s National Heavy Vehicle Regulator (NHVR).
The company has been contracted to provide monitoring for heavy vehicle compliance with drones and solar powered trailers, leveraging its AI-powered solutions to support NVHR’s vision to undertake intelligence-led, risk-based compliance activities, and increase their visibility of heavy vehicle fleet movements across the country.
SenSen is primarily focused on the development, commercialisation and supply of innovative data and AI-driven business process enhancement solutions.
“Highly strategic project.”
This new order expands SenSen’s intelligence and compliance footprint in the southern region of Australia. It positions the company for the first time as a provider to all three levels of government (local, state and federal) in Australia.
"Our ability to deliver highly relevant and accurate information on heavy vehicle movements through a combination of drone, trailer and vehicle-mounted solutions in an integrated fashion is an exciting new frontier,” SenSen CEO Dr Subhash Challa said.
“I am delighted SenSen’s AI capabilities delivered through our platform SenDISA have been recognised as critical for this success.
"SenSen is pleased to be selected to lead this highly strategic project and establish new partnerships with one of Australia’s leading drone system companies, AVCRM, alongside Microsoft Azure to deliver such advanced AI powered intelligence capabilities to NVHR.
“As part of this project, SenSen will feed all the intelligence gathered from the delivered system into the Regulator's Microsoft Azure's intelligence systems."
NHVR contract
NHVR was established in 2013 and is headquartered in Brisbane. It is a Federal Government agency and Australia’s dedicated, statutory regulator for all heavy vehicles. NHVR intends to deploy SenSen’s solution in its southern operations region encompassing South Australia, Victoria and Tasmania.
Commencing in October 2021, the initial contract is for one year with an option exercisable by NHVR to extend the contract for an additional two years.
The contract has no conditions to commencement and covers the NVHR's purchase of highly advanced, AI powered and rapidly deployable heavy vehicle monitoring systems including a combination of trailer, vehicle, and drone mounted systems, delivering upfront revenue of approximately A$387,000 and annual recurring revenues of about A$165,000 to SenSen for up to three years.
AI technology and use has advanced rapidly over the last few years, taken up by private companies and governments of all levels as a reliable, labour and cost-saving solution.
Governments have used AI to manage budgets, detect fraud and forecast and limit energy consumption. This contract is further evidence of the continued adoption of AI solutions in all sectors of business and government.