Terranet AB (NASDAQ: TERRNT B) teams up with NEVS to explore innovative applications of its VoxelFlowTM technology to redefine urban road safety enabled by its unrivalled detection speed
Lund, Sweden, November 4, 2021 - Today, a joint agreement is signed between pioneers Terranetand autonomous mobility provider NEVSto together work on establishing a new paradigm of urban safety. Firstly the two companies will explore an integration of the VoxelFlowTM technology into the groundbreaking NEVS autonomous mobility system named PONS, both built to progress and reshape urban mobility for safer and more sustainable metropolitan areas. An effort to enable autonomous vehicles to navigate more smoothly and safely in dense areas, a critical step towards achieving full autonomous driving capability.
"The safety of both our passengers and all surrounding road users is NEVS' highest priority and we're very interested in the VoxelFlowTM technology as a way to maximize the safety of our future autonomous vehicles in the complex urban environment our service will operate in," says Stefan Tilk, CEO of NEVS.
Autonomous Mobility Services with full focus on Safety, Security and Privacy
NEVS' revolutionary PONS mobility system focusses on urban areas and is built to reshape mobility in cities, a shared on-demand journey that doesn't compromise passenger privacy nor safety. As a part of the new partnership, NEVS and Terranet will jointly explore VoxelFlow'sTM ultra-fast motion detection as a safety back-up system for NEVS' self-driving Sango vehicles that is optimized for the complex environment of urban driving.
VoxelFlowTM effectively reduces the total emergency breaking time by preparing the electronic brake system within a few milliseconds and activating it immediately after a positive object classification. Here, Terranet's vision perception saves another 100 milliseconds compared to traditional computer vision systems.
"Terranet's mission is as simple as powerful: our products are designed to save lives on roads. Our groundbreaking vision system, VoxelFlowTM, delivers unparalleled speed and performance when it comes to the detection of vulnerable road users. VoxelFlowTM elevates ADAS safety to the next level serving both today's human-driven cars as well as tomorrow's self-driving vehicles. ADAS systems need to become way faster and smarter in order to contribute to a zero fatalities vision," said Terranet CTO Nihat Küçük. "With VoxelFlowTM we detect 3D lifelike movements within a few milliseconds using continuous-wave laser beams and bio-inspired vision sensors. Our frame-less concept doesn't miss the slightest movement, eliminates motion-blur, and enables high-accurate ultra-dense 3D voxel streams. Due to its inherent simplicity, VoxelFlowTM requires only a fraction of the computing power of today's computer vision systems. Our objective is to assist vehicles to break or dodge in emergency situations within tens of milliseconds."
The agreement signed is a shared collaboration between three pioneers in the automotive industry; NEVS, holoride and Terranet. This is a joint commercial agreement to further push the boundaries for existing road safety and entertainment offerings in self-driving vehicles. Jointly the three startups will explore the superiority of a complementary integration of holoride's hyper-immersive extended reality technology, Terranet's ultra-fast active vision system VoxelFlowTM and NEVS' revolutionary autonomous mobility system titled PONS.
About Terranet
Terranet AB. You can now subscribe to Terranet's newsletter, sign up at: www.terranet.se/en/ir-2/
About NEVS
NEVS' vision is to shape mobility for a sustainable future by developing mobility services based on fully self-driving vehicles and the surrounding mobility ecosystem. NEVS was founded in 2012 after acquiring the assets of Saab Automobile AB. The headquarter is situated in Trollhättan where currently about 350 employees, mainly engineers, work towards that vision.
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 November 4th, 2021 at 8.00 am CET.
Appointed Certified Adviser to Terranet AB is Mangold Fondkommission AB: 08-503 015 50, ca@mangold.se
For more information
Michaela Berglund
Executive VP
michaela.berglund@terranet.com
+ 46 723 388 288
Media Contact
Sam Aurilia
terranet@fischtankpr.com
FischTank PR
Stefan Tilk
President & Vice Chairman Nevs
stefan.tilk@nevs.com
+46 520 850 00
Attachment
- Terranet nevs holoride (https://ml-eu.globenewswire.com/Resource/Download/f583a414-2525-45c9-a201-8e50e9e498bc)
