Terranet presents its updated product development plan for BlincVision, an advanced driver assistance system, with clear goals set for 2025. Customer projects have been initiated, and the goal for the first half of the year is to develop an MVP (Minimum Viable Product) to pave the way for volume agreements and meet market demand.

BlincVision sets a new standard for anti-collision solutions by combining patented event camera technology with AI-trained software. The system uses minimal data processing, making the technology faster than any other solution on the market. It enables real-time decision-making and raises the bar for safety in the automotive industry.

BlincVision's functionality has been demonstrated through a prototype, which has been crucial in bringing the product closer to potential customers, such as automakers or their major suppliers. The next step is to work together with these stakeholders to adapt and integrate the product into the vehicle's existing safety systems, enhancing safety and improving the driving experience.

Terranet is following its product development plan and communicates the progress frequently. After many years of research and development, a prototype of BlincVision was showcased at the beginning of 2024, first in a lab environment and later outdoors on a moving vehicle. In the fall of 2024, the system was also tested on an accredited test track, where BlincVision performed a full autonomous braking.

BlincVision is an anti-collision solution designed to improve or replace other safety systems in a more cost-effective way, increasing safety and saving more lives. With stricter safety requirements in the automotive industry, systems like BlincVision will be crucial for both driver-operated and autonomous vehicles in the future.

Terranet is now in a product development phase where all employees are focused on optimizing the prototype with valuable feedback from vehicle manufacturers and major suppliers. This work will lead to an MVP (a first version of the product that can be tested on the market), a product that can be widely offered to vehicle manufacturers and suppliers. Once the MVP is fully integrated into a vehicle, work towards volume production can begin.

Key milestones in BlincVision's product development for 2025 are as follows:

Q1:

Proof of Concept results with a partner via MobilityXlab and initiate the next customer project.

Q2:

Further development of the existing prototype into an MVP (Minimum Viable Product)

Q3-4:

Verification of the MVP in customer vehicle and adjustments based on market demands.

A partnership agreement is signed, initiating dialogue on volume production.

”We are in an incredibly exciting phase in Terranet's history as we now integrate BlincVision into vehicles from car manufacturers and their suppliers to strengthen safety systems. Autonomous vehicles represent a significant market and are a crucial part of the vision of zero traffic deaths," says Magnus Andersson, CEO of Terranet, on behalf of Terranet Management.

For more information, please contact:        

Magnus Andersson, VD

E-mail: magnus.andersson@terranet.se

About Terranet AB (publ)

Terranet's goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet's anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available today.

The company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B). Follow our journey at: www.terranet.se

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