TerraNet receives additional customer order within active safety
TerraNet has today received another order for optimization of LTE-V - the next generation network standard in vehicle-to-vehicle communication.
The order of 180,000 SEK serves as the first stage within a roadmap of a 0-series and industrialization program with a total value of 1.8 MSEK. Developing the first prototype for this new initiative is set to be completed during the second quarter of 2018. The software will be licensed and is expected to serve as an integral system component of newly manufactured cars by 2020.
TerraNet and the customer, a world-leading provider of passive and active safety, already have a well established collaboration for sensor-based vehicle communications primarily for offline and non-cellular network services.
TerraNet has a modular software platform for mission critical data and telecommunications traffic outside the cloud with underlying performance enhancing patented algorithms. Among these, low latency, power consumption and high bandwidth output represent dimensional system parameters for network stability. This applies to sensor-based machine-to-machine communication for increased productivity, as well as vehicle-to-vehicle communication for increased road safety. Terranet's technology is adapted for microwave frequencies of up to 60 GHz for both cellular and non-cellular radio interfaces.
"While the company's main niche and focus so far has been within W-LAN, we are particularly pleased to be given the confidence to be able to take this position within LTE-V and 5G - the new generation network standard," says Mats Lindblad, SVP Industrial IoT at TerraNet AB."
For more information, contact:
Christina Björnström, VP Marketing & Investor Relations
+ 46 70 332 32 62
TerraNet offers a unique patented software technology that enables intelligent machine-to-machine communication and streaming of data, including bandwidth high-definition media, regardless of mobile networks or other hot spot-dependent networks. TerraNet’s headquarters are located in Lund, Sweden with established sales and marketing agents in the US, China and India. TerraNet Holding AB (publ) is listed on the Nasdaq First North Premier.