Terranet enters into project consortium with Volvo Cars, Volvo Trucks and Lund University
Terranet has entered into a project consortium with Volvo Cars, Volvo Trucks and Lund University of Technology, which today received a development grant from Vinnova totaling approximately SEK 11.3 million.
The 3-year project will enable research and development in the areas of increased accuracy and robustness of positioning for fully- and assisted-self-driving technologies also designed to work in dense urban environments and roadways with poor visibility conditions.
Terranet will focus on cellular localization between vehicles as well as spearhead the development of 5G multi-wave propagation and deep learning capabilities - an extremely important breakthrough: “Terranet’s participation solidifies the company's strategic role within a consortium that brings together two leading global market and technology leaders in the growth segment of self-driving vehicles and personal safety. This is at the heart of our business plan, and I value it as one of the most important strategic business events in the company's history and focused roadmap,” says the company's CEO Pär-Olof Johannesson.
For more information please contact
Pär-Olof Johannesson, CEO
+ 46 70 332 32 62
Christina Björnström, SVP Marketing & Sales
Terranet has a strategic focus within active safety and develops software for radio-based sensors as well as GPS and non-GNSS solutions intended for self-driving vehicles. Terranet is headquartered in Lund, Sweden with established sales and marketing agents in the US and China. Terranet Holding AB (publ) is listed on 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 March 12th, 2019 at 16:30 CET
Appointed Certified Adviser to Terranet Holding AB (publ) is FNCA Sweden AB, +46(0)8-528 00 399, firstname.lastname@example.org.