Terranet AB – Interim report Q1 2024 - Seite 2

As the urban traffic environment becomes increasingly complex, we contribute with a groundbreaking technology solution that protects vulnerable road users. For us, speed and accuracy is the way to get there.

It has been a satisfactory first quarter. The commercialization of BlincVision is progressing at a rapid pace with positive results from the prototype demonstration in a lab environment and now the solution will be tested on cars during the second quarter. Our dialogues with potential partners and customers have deepened.

The testing of the entire product as a lab prototype has been a very important milestone. Testing our prototype on a car is the next step on the way to the commercial launch of our product. All major car manufacturers and major subcontractors we talk to sees the potential in BlincVision and our technical solution. The fact that we are using a completely different and new technology means that we can bring road safety to new heights. It is one thing to improve existing technologies, such as Lidar, radar and cameras but developing brand new technology makes a real difference. A current challenge in the industry is that too many sensors are used. This drives costs and makes the solutions more complex as well as the design of the car more complicated. Instead, new technologies increase the efficiency of each sensor and hence help reducing the number of sensors. Simultaneously, different sensors can be constructed to work together more efficiently (sensor fusion).

Terranet's market potential is huge. Features such as automatic braking and evasive maneuvering are already saving lives today, and making traffic ever safer and vehicles more autonomous, are high up on the agenda for the automotive industry.

In connection with developing test methods for the next generation of ADAS systems together with AstaZero (RISE) and the automotive safety organization, EuroNCAP, we see that there are many traffic scenarios where today's safety solutions are not sufficient. With the updated test methods that will be launched in 2026, the requirements for ADAS systems will be raised, which means that new solutions such as BlincVision will come in demand.

The players we are talking to want to see our prototype work on vehicles in outdoor environments and we are in dialogue about carrying out these demonstrations shortly. Terranet will work together with potential partners and customers to complete the prototype into a final product. We aim for formal partnerships with suppliers and car manufacturers to implement so-called PoC (Proof of Concept) projects together with them as soon as possible.