TerraNet receives order within V2V and Active Safety
TerraNet has today received an order under an existing partner development program to test drive cars in real traffic settings, having the TerraNet application for vehicle-to-vehicle communication (V2V) for active safety installed. The order also includes to optimize the upcoming mobile communication standards 5G and LTE-V networks by using TerraNets algorithms for V2V communication to forward data and safety messages in offline mode.
The order, with a value of approx. 1 million SEK, is placed with an extended scope in an ongoing industrialization project to develop a sensor based software within active safety. The order also implies tests in real life traffic situations with the software installed in cars using advanced data analysis for autonomy. The software is estimated to be licensed and included in newly produced cars within two to three years.
TerraNet and the client cooperates within V2V communication applied to active safety and autonomous driving and this order is placed as the next step towards industrialization.
“We are reaching two milestones with this order. The first is for TerraNet to show how the active safety application works in real traffic situations and the other is to get this follow-up order to for future technology for mobile networks after delivering groundbreaking results on current standard.” says Pär-Olof Johannesson CEO TerraNet
TerraNet’s unique algorithms and embedded software for V2V communication operates in off-line mode outside GPS and operator networks and therefor provides the crucial missing link in a car sensor network that for example suffer from nearby blind spots due to buildings, vehicles or other objects in its way. The TerraNet V2V applications supports when GPS signals are weak, slow or is non-existing.
The future network
5G is the next generation of mobile telecommunication standards that is currently being developed by the radio sector. The industry is targeting 2020 for the widespread deployment of 5G networks and is expected to be designed to support a variety of IoT-applications.
For more information contact:
Pär-Olof Johannesson, CEO
+ 46 70 742 50 18
FNCA Sweden AB is the Ceritified Adviser to TerraNet Holding AB (publ).
This information is information that TerraNet Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15:30 CEST on June 9 2017
TerraNet delivers a unique patented software technology that enables intelligent machine-to-machine communication and streaming of data, including broadband demanding HD media, regardless of any mobile network or other hot spot-dependent networks. TerraNet is headquartered in Lund, Sweden with established sales and marketing agents in San Jose, Silicon Valley, Hyderabad, India, and Taipei, Taiwan. TerraNet Holding AB (publ) is listed on Nasdaq First North Premier.