Seeing Machines Limited SEE signs MOU with L3Harris Technologies (6921C)

TIDMSEE

RNS Number : 6921C

Seeing Machines Limited

21 October 2020

Seeing Machines Limited

21 October 2020

Memorandum of Understanding with L3Harris Technologies

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, has signed a non-binding Memorandum of Understanding ("MOU") with global aerospace and defence technology company, L3Harris Technologies (NYSE: LHX) ("L3Harris").

The MOU frames the intent to enter into a global non-exclusive license agreement to collaborate to enhance pilot training technology with the Company's dedicated precision eye-tracking system for flight crew training in the full flight simulator (FFS) environment.

L3Harris and Seeing Machines will work together to implement this technology into simulators at L3Harris' training centers, and offer the integrated solution to L3Harris' customers into existing and future simulators. Seeing Machines will collaborate on design and integration of flight training customer solutions, and L3Harris will look to optimise the visualisation and analytic capability, to create the optimum solution for enhanced flight training.

Based on Seeing Machines' precision eye tracking capability, the system helps advance flight simulator training by enabling instructors to better understand pilot behaviour, decision-making patterns, scanning patterns, and attention levels in real time and also recorded for debrief.

The timing of this arrangement is important as the aviation industry starts to recover from the impacts of COVID-19, noting that training and simulator based activity will be a major contributor to this recovery process.

L3Harris has a strong focus on using innovation through technology to optimise flight training both in their own training centres and through the training devices that they supply to customers across the world. L3Harris has an advanced data analytics cability supporting the transisiton to evidence based training. It is a natural fit for L3Harris to further this capability, developing an ever deeper understanding of the pilot.

Seeing Machines and L3Harris have previously and successfully delivered the worlds first fully integrated eye-tracking system into a Boeing 787 FFS for a major Australian airline and will continue to work together to provide solutions for L3Harris customers and across the Aviation industry more broadly.

Sanjay Kaeley, Head of Product Solutions for Commercial Aviation at L3Harris said: "Working closely with Seeing Machines through this agreement will help to enhance the understanding and measurement of the pilot decision making process within the simulator and, in due course, in the aircraft. It is an exciting development to further support our shift to data in training, leading to an enhanced evidence-based training approach."

Patrick Nolan, GM of Aviation at Seeing Machines added: " We are very excited about our continued momentum with L3Harris, a world leading and globally recognised brand. L3Harris was the first major simulator OEM to fully support and look to understand the flight training benefits of integrated eye tracking. This has led to a great collaboration and now, a strong commercial channel to build our partnership. In such an automated environment like today's cockpit, to understand pilot attention and have a mechanism to better develop pilot monitoring skills is a game changer."

A license arrangement, currently in advanced discussions between the parties, will be subject to the negotiation and execution of definitive, binding licensing and other legal agreements. Further announcements regarding the progress of the negotiations in relation to such binding documentation will be made, as appropriate.

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 
 
 

The person responsible for arranging the release of this announcement on behalf of Seeing Machines is Sophie Nicoll, SVP, Corporate Communications.

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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October 21, 2020 02:00 ET (06:00 GMT)