Seeing Machines Limited Statement re: Press Speculation (4169F)

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RNS Number : 4169F

Seeing Machines Limited

12 July 2019

12 July 2019

Seeing Machines Limited

Statement re: Press Speculation

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, notes the recent press rumour and speculation that it has been appointed to deliver driver monitoring technology to Volvo Car Corporation.

Seeing Machines was not consulted on the content of the article and no award has been confirmed.

As previously announced, Seeing Machines currently has seven OEM production programs spanning a broad range of car models across a total of six automotive OEMs globally (two premium German OEMs, three North American OEMs and one Chinese OEM). In addition, the Company has a strong and building pipeline of future RFQs across a range of vehicle classes in North America, Europe and Asia. Any future awards will be announced in due course.

Enquiries:

 
                                                          +61 2 6103 
 Seeing Machines Limited www.seeingmachines.com                 4700 
 Paul McGlone - CEO 
  Sophie Nicoll - SVP, Corporate Communications 
 
 Cenkos Securities plc (Nominated Adviser and Broker) 
  Neil McDonald 
  Beth McKiernan                                         [phone] 
  Pete Lynch                                                    6939 
 

About Seeing Machines - www.seeingmachines.com

Seeing Machines (LSE: SEE), a global company headquartered in Australia, is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company's machine learning vision platform has the know-how to deliver real-time identification and understanding of drivers through Artificial Intelligence (AI) analysis of heads, faces and eyes. This insight enables Driver Monitoring Systems (DMS), which monitor driver/operator identification and attention and can detect drowsiness and distraction across multiple transport sectors.

Seeing Machines develops DMS for the Automotive, Commercial Fleet, Aviation, Rail and Off-Road markets. The Company has offices in Australia, USA, Europe and Asia, and delivers multi-platform solutions to industry leaders in each vertical.

DMS is becoming a core safety technology integrated into ADAS offerings for the automotive industry, particularly with the development of semi-autonomous and self-driving cars. DMS is also increasingly seen to be an integral safety feature across the Commercial Transport & Logistics industry and is set to be become a regulatory requirement for all cars, vans, trucks and buses in Europe from 2022, with the rest of the world expected to follow soon after.

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July 12, 2019 09:01 ET (13:01 GMT)