Terranet shares product development update

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PRESS RELEASE
Monday, May 42022

Terranet AB (audience) (Nasdaq: TERRNT-B) share todaynot update on the development of his BlincVision technology, the next steps in development process and key steps market the solution for global automobile industry.

In 2021, BlincVision moved from laboratory testing to Proof of concept, when its functionality was tested during a live in-vehicle demonstration in conjunction with Mercedes-Benz at StartUp Autobahn in Stuttgart in July. Functionality testing validated the concept of the innovation, confirming that BlincVision can detect objects much faster and with greater accuracy than any other life-saving ADAS solution today. BlincVision thus becomes an essential complement to existing ADAS, particularly suitable for reducing traffic accidents in urban areas with dense and varied traffic.

With the conceptual design and technical documentation of software and hardware components in place, the development process is progressing as planned.

Pproduct development status

Terranet is currently working intensively to improve and improve the system based on the initial proof of concept. This work will continue throughout 2022 and will include reducing the physical size of the product, further improving performance, and adapting the system to the technical and physical integration requirements of the automotive industry. It is also a question of strengthening collaborations with the software and hardware partners who develop the components of the solution.

Milestones and upcoming timeline

The continued development of the Proof of Concept will lead to a first prototype that can be integrated into vehicles. This will be followed by several sub-phases during which the prototype will be developed, tested and validated. Each of these phases includes milestones that must be achieved to bring the product to market. Among other things, BlincVision must be adapted to the technical platforms and interfaces of the various OEMs (Original Equipment Manufacturer). Building relationships with the automotive industry is therefore an important priority that runs in parallel throughout the product development process.

BlincVision should be production ready in a few years.

Interim CEO of Terranet Goran Janson timeline comments:

“BlincVision’s development process can be compared to the launch of a new drug: we are developing a completely new technology that will have to go through various stages of validation before production can start. Considering the degree of innovation and the fact that this is a safety solution for the automotive industry, this is an expected timeframe that we also consider realistic,” says Göran Janson.

Senior Vice President of Product Management of Terranet, NOTi hat Kucuk, comments on the development process:

“I am very excited about the technical progress made so far and the potential of BlincVision for urban traffic safety. There is no blueprint for what we do – we create pioneering solutions from theory and research that truly challenge the limits of vehicle safety,” says Nihat Kucuk.

For more information please contact
Thomas Falkenberg, Chief Financial Officer
Tel: +46 703 360 346
Email: [email protected]

About Terranet AB (audience)

Terranet is on a mission to save lives in city traffic.

We develop breakthrough technology solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect vulnerable road users.

With a patented vision technology, Terranet’s BlincVision collision avoidance system laser scans and detects road objects ten times faster and with greater accuracy than any other ADAS technology available today.

Terranet is based in Lund, Sweden, and at the heart of the European automotive industry in Stuttgart, Germany. The company has been listed on the Nasdaq First North Premier Growth Market since 2017 (Nasdaq: TERRNT-B).

Follow our journey on www.terranet.se

Terranet’s Certified Advisor is Mangold Fondkommission AB, 08-503 015 50, [email protected]

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