Seeing Machines Limited 21st Century Smart Cars Act Legislation

TIDMSEE

Seeing Machines Limited

07 June 2021

RNS REACH

7 June 2021

Seeing Machines Limited

21(st) Century Smart Cars Act would require DMS for all new US cars

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, welcomes additional momentum in the USA for mandatory driver monitoring system (DMS) technology to assist in improving safety on roads, with the introduction of the "21(st) Century Smart Cars Act" ("the Act").

Introduced by Congresswoman Jan Schakowsky, a leading safety and consumer rights trailblazer, the legislation forms part of a larger automotive safety package, and would require a range of safety technologies become standard on all US passenger vehicles within four years, noting that they will be required to meet strong performance requirements. Specifically, the legislation calls for 'direct driver monitoring' indicating that a camera will likely be the primary requirement to determine driver engagement.

These developments in the US are completely aligned to Seeing Machines' view that DMS is fundamental to the automotive transport sector and that the fitment rate will accelerate substantially over the coming years, globally. Seeing Machines is currently working with all major US automotive manufacturers to deliver its industry-leading technology, with some of these vehicles already in production and on sale to consumers today, fitted with camera-based DMS.

Paul McGlone, CEO of Seeing Machines commented: "More momentum in the US is great news for Seeing Machines and, while not surprising, further affirms our view on the total market opportunity for camera-based DMS. We will continue our work with our Tier 1 and OEM customers and with governments, industry bodies and regulators around the world to influence the growing safety agenda and look forward to more jurisdictions following in these footsteps."

Enquiries:

 
 Seeing Machines Limited                           [phone] 
 Paul McGlone - CEO 
  Sophie Nicoll - Corporate Communications 
 
 Cenkos Securities plc (Nominated Adviser and 
  Broker) 
  Neil McDonald 
  Pete Lynch                                      [phone] 
 
 Stifel Nicolaus Europe Limited (Joint Broker)    [phone] 
 Alex Price 
  Nick Adams 
 
 

Lionsgate Communications (Media Enquiries) [phone]

Jonathan Charles

Seeing Machines (LSE: SEE), a global company founded in 2000 and headquartered in Australia, is an industry leader in vision-based monitoring technology that enable machines to see, understand and assist people. Seeing Machines' technology portfolio of AI algorithms, embedded processing and optics, power products that need to deliver reliable real-time understanding of vehicle operators. The technology spans the critical measurement of where a driver is looking, through to classification of their cognitive state as it applies to accident risk. Reliable "driver state" measurement is the end-goal of Driver Monitoring Systems (DMS) technology. Seeing Machines develops DMS technology to drive safety for Automotive, Commercial Fleet, Off-road and Aviation. The company has offices in Australia, USA, Europe and Asia, and supplies technology solutions and services to industry leaders in each market vertical.

www.seeingmachines.com

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June 07, 2021 02:00 ET (06:00 GMT)