StockTerranet signs agreement to produce its scanner prototype

November 9, 2022

Through a strategic partnership, tech company Terranet is taking decisive steps towards a complete prototype for its driver assistance system BlincVision. Prevas is commissioned to build the first prototype of BlincVision’s laser scanner module.

Terranet has chosen Prevas as a partner to manufacture a first prototype of the scanner module that will be part of Terranet’s life-saving driver assistance system BlincVision. The scanner module, whose main component is the laser that reads the surroundings around the vehicle, is one of the three main modules of the BlincVision system.

On schedule for product development

Prevas has extensive experience in providing the automotive industry with high-quality solutions and has unique expertise in lasers. They specialize in advanced technical solutions in a variety of industries and technical areas. Clients include the defense industry with high demands on precision, quality and security.

“It is fantastic to see how quick the development has progressed and that we now are ready to commission the assignment to produce our first version of the scanner module. We are on schedule for developing a complete prototype for BlincVision. The collaboration with Prevas allows Terranet to in the near future solely focus on developing the sensor module to prototype design”, says Terranet’s CEO Magnus Andersson.

Building on technological advances

The prototype that Prevas will develop is based on Terranet’s specifications and builds on the technological advances made by Terranet during the past year, including the laser’s effective detection range and how safe it is for the human eye.

“We are very proud that Terranet has chosen to develop the scanner in collaboration with Prevas. It will be an exciting assignment to design a prototype with such a high degree of innovation”, says Magnus Edman, CEO of Prevas Development, a subsidiary of the Prevas AB Group.

The agreement between the parties is drawn up on market terms. Magnus Edman is CEO of Prevas Development and a board member of Terranet but has not participated in Terranet’s decision-making process. The agreement is not classified as a material transaction with related parties, according to the Swedish Companies Act, Chapter 16a.

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 9 November 2022, at 08.00 CET.

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