TerraNet receives strategic order within active safety
TerraNet has today received an order of 950 000 SEK for the continued development of LTE-based active safety for autonomous vehicles.
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.
This order demonstrates that TerraNet´s technology, designed to increase maneuverability in autonomous cars, is suited well for use within LTE, the next generation network standard.
TerraNet´s embedded software module will be licensed and is projected to serve as an integral system component of newly manufactured light cars by 2020.
"Through this expanded collaboration in LTE-V and 5G, we will be able to maximize our modularity for our core competence within active safety, that has so far been focused around Wi-Fi frequencies," says Mats Lindblad, SVP Industrial IoT at TerraNet AB.
The order is a part of the cooperation earlier announced with a potential of 1,8 MSEK.
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.
For more information, contact:
Christina Björnström, VP Marketing & Investor Relations
+ 46 70 332 32 62
TerraNet offers 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.
This is information that TerraNet Holding AB is required to disclose under the EU Market Abuse Regulation. The information was provided via the above contact person for publication on December 4, 2017 at 09:00 CEST.
Appointed Certified Adviser to TerraNet Holding AB (publ) is FNCA Sweden AB.