European Council Adopts Enhanced Safety Regulation
11 November 2019
Seeing Machines Limited
European Council Adopts Regulation to Enhance Safety
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, is pleased to note that, following an agreement with the European Parliament in March, the European Council announced on Friday 8 November that it has adopted a regulation on the general safety of motor vehicles and the protection of vehicle occupants and vulnerable road users (the "Regulation").
The Regulation is part of the "Europe on the Move" package, launched by the European Commission in May 2018, which aims to ensure a smooth transition towards a mobility system which is safe, clean and automated. Of particular relevance to Seeing Machines and its industry-leading driver monitoring systems is the requirement under the Regulation for the adoption of safety features that include advanced driver distraction warning systems and driver drowsiness and attention warning systems.
Paul McGlone, CEO of Seeing Machines commented: "Europe continues to lead action on safer roads. As advanced safety technology becomes more available, we are delighted to see that Europe intends to apply these innovations to truly drive safety. While initially implemented in Europe, given the markets served by European carmakers and heavy vehicle manufacturers, these developments will no doubt be implemented globally in time.
"Seeing Machines is extremely well placed to support these ongoing regulations, especially as they will apply, from 2022, to all cars, vans, trucks and buses. Guardian, our commercial vehicle technology, is already installed in more than 16,000 heavy vehicles, and Seeing Machines has ongoing engagements to deploy driver monitoring technology across nine automotive programs globally, placing us in the perfect position to continue to assist our customers to meet these requirements which will enhance safety on roads."
A copy of the European Council's press release is available at the following link:
Seeing Machines Limited
+61 2 6103 4700
Paul McGlone - CEO
Sophie Nicoll - SVP, Corporate Communications
| || |
Cenkos Securities plc (Nominated Adviser and Broker)
+44 131 220 6939
| || |
Antenna Group for Seeing Machines (Media Enquiries)
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
Quick facts: Seeing Machines Ltd.
Market Cap: £166.58 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE