Bannix and GBT Partner to Bring Revolutionary Imaging Tech "VisionWave" to Market

Enter into Binding Business Combination Agreement

WEST HOLLYWOOD, Calif., March 28, 2024 (GLOBE NEWSWIRE) -- Bannix Acquisition Corp. (“Bannix” or the “Company”) together with GBT Technologies, Inc. (“GBT”), announced today that the Company and VisionWave Technologies Inc., which is partially owned by GBT ("VisionWave") have executed a binding Business Combination Agreement (“BCA”) with the goal of bringing a groundbreaking imaging technology called "VisionWave” to market. This technology platform, backed by a portfolio of patents, leverages the power of radio waves and machine learning to create a new frontier in computer vision.

A New Vision for Imaging

VisionWave has promise to revolutionize imaging and detection, particularly in military/combat and geological survey applications. Using radio waves, the goal of the system, which is under development, is to:

• Analyze reflections to create detailed 2D and 3D images of stationary and moving objects, including living beings, above and below ground.
• Offer 360° coverage through AI-driven radio wave analysis, providing unparalleled situational awareness.
• Integrate seamlessly with existing radar systems, enhancing their capabilities with advanced features.
  

Looking Ahead

While the path to commercialization requires additional research, development, and strategic partnerships for successful market introduction, both Bannix and VisionWave are confident in the transformative potential of VisionWave. This innovative technology has the potential to redefine imaging and detection across various industries, from military applications to security and medical diagnostics.

“Applications using radio frequency to detect, measure and provide accurate detailed information to AI- and computer-driven systems are proliferating widely,” said Bannix CEO and co-Chairman Doug Davis. “We are pleased to partner with, VisionWave, whose technology and patent portfolio represent, I believe, a significant step forward to everyday usage in both military and commercial applications.”

Mansour Khatib GBT’s CEO added: “We are very excited with Bannix’s decision to move ahead. Put simply, the goal of this technology upon full development will be to read life signs, health, see through walls, detect underground objects and life signs, support autonomous vehicles and has many other applications.”

Important Disclaimer

The success of VisionWave hinges on multiple factors, including securing adequate funding for research and development and forming strategic partnerships for manufacturing and distribution. There is no guarantee that Bannix or Tokenize will overcome these hurdles.