Lund, February 7th, 2022.
Terranet AB (publ) (Nasdaq: TERRNT-B), a tech company that provides advanced driver assistance systems (ADAS) for the automotive industry, today provided a brief strategic update following recent leadership restructuring, and reported that the technology target objectives stated in early 2021 have been met.
Terranet’s primary focus is to develop BlincVision, powered by VoxelFlow™, for the automotive industry and establish the brand as a leader in roadway safety. BlincVision provides the car with lightning-fast sensor technology, giving it the unparalleled ability to detect, classify, and track objects, reacting accordingly to each obstacle. Using integrated units with Solid state Multibeam Laser and Dynamic Vision Sensor (Event Camera) for high-sensitivity 3D scanning, BlincVision not only reacts ten times faster than today’s ADAS systems, but it also has the unique ability to differentiate between objects, enabling the vehicle to act as the situation demands. The technology is smart, fast and accurate – all demonstrated in real time.
Though Terranet is prioritizing BlincVision for ADAS vehicles, the company is also exploring additional use cases to maximize the potential of the VoxelFlow™, including but not limited to extended reality and data collection. The Company’s close collaboration and development program with Audi-backed holoride is a good representation of the diverse skillset and benefits of its products. Terranet’s will continue to create collaborations in the automotive sector, and we receive lots of positive interest for our technology in the market.
“Development of BlincVision continues to maintain its high growth trajectory, but we are confident we can do even better,” said Terranet AB Interim CEO Göran Janson. “We have already exceeded our 2021 targets, but have made the strategic decision to further accelerate the development of BlincVision for the automotive industry, resulting in recent corporate organizational changes. Our technology has the capability to drastically reduce traffic and roadway fatalities, and we will continue to do our utmost to achieve commercialization, redefining what was previously thought capable for automotive safety.”
For more information:
+ 46 703 360 346
Terranet AB (Nasdaq: TERRNT-B). With a vision to save lives Terranet designs and develops a new class for vision-based sensor systems, used for road safety. It markets and delivers a software stack with features available across vehicle platforms and car models. The technology was handpicked and showcased twice at Startup Autobahn in 2021. The company is located in Lund and Stuttgart. Terranet AB (publ) is listed on the Nasdaq First North Premier Growth Market. Discover more about Terranet: https://terranet.se/en
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 above on February 7th, 2022 at 08.00 CET.
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