24th Feb 2025 12:27
(Alliance News) - Seeing Machines Ltd on Monday said it has signed a referral agreement with Mitsubishi Electric Automotive America Inc to drive sales in the Americas.
Canberra-based Seeing Machines designs artificial intelligence powered operator monitoring systems to enhance transport safety.
The firm said the agreement will allow it to leverage MEAA's Aftermarket distribution network and customer base in the Americas to help accelerate sales of its Guardian Generation 3 driver monitoring solution.
MEAA is a US affiliate company of Mitsubishi Electric Mobility Corp, which invested GBP26.2 million into Seeing Machines in December.
The company said the referral agreement will allow the joint pursuit of business where MEAA has existing commercial relationships in its transport and logistics segment in the region.
It said MEAA has already seen "strong initial interest" in Guardian Generation 3 from its customers.
Seeing Machines Chief Executive Officer Paul McGlone said: "Further to the recent collaboration with Mitsubishi Electric Mobility Corp, we have commenced work to rapidly develop and expand our respective businesses. While there is a strong focus on Automotive in Japan, the Aftermarket opportunity that we are pursuing together with Mitsubishi Electric Automotive America Inc, is immediate, material and strategic for our business.
"The Americas present an incredibly large and important market for driver safety technology and having intimate customer insights and existing relationships to leverage will be critical to the successful positioning and acceptance of our class-leading Guardian solution."
Seeing Machines shares were up 1.3% to 3.95 pence in London on Monday afternoon.
By Michael Hennessey, Alliance News reporter
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