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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Terranet Holding Ab | LSE:0GH9 | London | Ordinary Share | SE0009806045 | TERRANET HOLDING ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Radio,tv,cons Electr Stores | 834k | -40.5M | -0.1291 | -80.56 | 3.26B |
Significant events during the third quarter
Significant events after the close of the period
Third quarter, 1 July – 30 September 2023
Interim period, 1 January – 30 September 2023
Comments from the CEO
"When the demonstration in the lab is completed, the prototype will be tested outside the house in the second quarter of 2024.”
Our industry is currently in a very exciting stage. Companies like Terranet are well positioned, as major automotive manufacturers and their subcontractors drive the development and demand for advanced sensor systems. The advantage of BlincVision is its speed. In addition to its lightning-fast reaction to events in the vehicle’s surroundings, BlincVision is also able to distinguish between objects and people in dense urban environments.
As I mentioned in the last interim report, we believe that government requirements for reaction and response times need to be updated. And now Terranet is taking the first step towards moving this process forward. In order to help increase requirements, we started a collaboration with RISE test track and test facility AstaZero in October. The project will develop new test methods for advanced driver assistance systems (ADAS). Our ultimate goal is for these methods to be included in Euro NCAP's rating methods.
It is also encouraging that we can see clear signs that what we in the industry call ADAS, that is, advanced driver assistance systems, are also appreciated by the end consumer and that they are willing to pay a premium to access these functions. If you consider the steps the industry is taking towards higher standards together with consumer perception, we are seeing some very positive signs for Terranet.
A strong team is a prerequisite for success. We continue to strengthen our organisation by both broadening and deepening our in-house expert competence. This October, we welcomed Dan Wahrenberg as our new, permanent CFO. Dan has a proven track record from several listed companies. As we previously announced, we are recruiting a new CTO from the automotive industry in order to gear up our product development. The company management team will also be strengthened. We will add a business development manager to help us respond to the rapid pace of change and development in today's automotive industry.
Magnus AnderssonCEOLund, 16 November 2023
This information is such that Terranet AB is required to make public in accordance with the EU’s Market Abuse Regulation (MAR). The information was made public by the Company’s contact person below on 16 November 2023, at 08.00 CET.
For more information, please contactMagnus Andersson CEO Email: magnus.andersson@terranet.se
About Terranet AB (publ)
Terranet is on a mission to save lives in urban traffic.
We develop breakthrough tech solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect vulnerable road users.
With a unique and patented vision technology, Terranet’s anti-collision system BlincVision scans and detects road objects multiple times faster and with higher accuracy than any other ADAS technology available today.
Terranet is based in Lund, Sweden, and in the heart of the European automotive industry in Stuttgart, Germany. The company is listed on Nasdaq First North Premier Growth Market since 2017(Nasdaq: TERRNT-B).
Follow our journey at www.terranet.se
Certified Adviser to Terranet is Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se.
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