Terranet AB - Interim report 1 January - 30 September 2022
Significant events during the third quarter
Significant events after the close of the period
Third quarter, 1 July – 30 September 2022
Interim period, 1 January – 30 September 2022
Comments from the CEO - We are entering the next phase
Scanner module under development
A second key component of BlincVision is the highly sensitive sensor unit that captures the laser beams and via the software processes and interprets the data at lightning speed. To speed up time to market, we are currently evaluating potential development partners for this high-tech sensor. I look forward to share the progress in this area in the near future. The ambition is to present working prototypes in 2023.
Positive feedback from the market
During my first months as CEO I have met with a lot of different automotive industry players to tell them about Terranet and what we do - everything from vehicle manufacturers and potential customers to possible partners and industry organizations. The people I meet are curious about our technology, and the general response is that BlincVision fills a need in the market that other driver assistance technologies cannot.
An increasing number of vehicle manufacturers and technology providers see the need for an ecosystem of sensor solutions that meet different needs. Lidar, radar and camera technology all have their advantages, but none of them work optimally in all traffic situations. We see clear driving forces that support demand for a product like BlincVision, which will complement other ADAS solutions in dense traffic where the car must be able to assess the situation at lightning speed and at very short distances, and identify which object is moving in front of the car.
Continued capitalization of the company
The intensive product development work continues according to plan. We still have some way to go before we can present a finished BlincVision product, but every milestone we pass, and the development we see in the automotive industry and in urban traffic environments around the world, strengthens my conviction that Terranet is on the right track.
This information is such that Terranet AB is required to make public in accordance with the EU’s Market Abuse Regulation (MAR). The information was made public by the Company’s contact person above on 17 November 2022, at 08.00 CET.
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About Terranet AB (publ)
Terranet is on a mission to save lives in urban traffic.
We develop breakthrough tech solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect vulnerable road users.
With a unique patented vision technology, Terranet’s anti-collision system BlincVision laser scans and detects road objects ten times faster and with higher accuracy than any other ADAS technology available today.
Terranet is based in Lund, Sweden, and in the heart of the European automotive industry in Stuttgart, Germany. The company is listed on Nasdaq First North Premier Growth Market since 2017(Nasdaq: TERRNT-B).
Follow our journey at www.terranet.se
Certified Adviser to Terranet is Mangold Fondkommission AB, 08-503 015 50, [email protected].
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