Terranet, Sweden to test BlincVision in autonomous vehicles in 2023

Dear shareholders. It is now time to sum up the year and look ahead to an exciting 2023.

The year that has passed has in many ways been tumultuous with a geopolitical world situation that has changed drastically. We have a close dialogue with suppliers and partners to ensure that the development of BlincVision moves forward without obstacles.

As we previously communicated, we have started a partnership with the Swedish technology company Prevas for the production of our scanner module. The work is progressing very well and according to plan. A first prototype will be ready early next year.

I can also tell you that we have started feasibility studies of our sensor module, so-called feasibility studies, together with two international partners who are specialists in the field. The plan is for these studies to be completed by the end of January. After that, we will have different path choices to produce a prototype for our sensor module as well. The focus is to get the best product to market as soon as possible.

In parallel with the above development, we continuously work with the software unit for BlincVision. It is planned to be ready when our other components, i.e. both the scanner and the sensor module, are ready. The aim is to test BlincVision in vehicles in 2023. As BlincVision will be a pioneering solution on the market, we are continuously evaluating additional areas of use.

Those of you who follow me and Terranet on social channels know that I spent a large part of my
time traveling and meeting representatives of the market. Very exciting things are happening in ADAS and self-driving cars. Development is progressing rapidly and driver assistance systems are becoming increasingly automated. The latest example is an automated driverless parking system claimed to be the world’s first Level 4 self-driving system – developed by Mercedes Benz and Bosch that has now been officially approved for commercial use in Germany by the country’s transport authority. It is also clear that the demands to offer technology-intensive driver support systems to customers are increasing. There is an expectation that the vehicle you travel in should be able to actively help with both monitoring and reacting to the environment.

This paves the way for many openings for Terranet among both Tier-1 and OEM manufacturers. BlincVision is a revolutionary system and I am sure that when we present the finished prototype to the market it will make a big impact.

We will soon welcome a new exciting year, which means further important steps on the way to a finished product and other significant events to drive the company forward.

Already at the beginning of January, we go to CES in Las Vegas. CES is the world’s largest meeting place for tech and innovation. All major Tier-1 and OEM manufacturers will be present and it is a great opportunity to meet existing contacts and update partners. It is also a good opportunity to create new relationships and collaborations. Our partner holoride, in which we are part owners, has launched its product in the autumn and will also be present at CES. We of course follow their exciting development.

In the coming months, we will carry out a number of strategically important recruitments that will strengthen our team both in innovation and technical development. I look forward to being able to tell you more about our new colleagues when they are in place.

With the aim set to test BlincVision in vehicles in 2023, it becomes natural to prioritize commercial discussions around BlincVision going forward.

Thanks for this year, see you again at the start of the new year – have a very Merry Christmas and Happy New Year!