LUND, Sweden–(BUSINESS WIRE)–Following the launch at CES in Las Vegas 2020, Terranet has through Q1 up to now taken further important steps in the development and proof of concept cycle with the life saving 3D motion software technology – Voxelflow. “With higher accuracy, lower latency at higher resolution we are coming closer to a point what no human eye or computer vision system has ever been capable of achieving,” says Terranet CEO Pär-Olof Johannesson.
Terranet’s vision is to contribute to the future realisation of the policy formulated by the third global ministerial conference on road safety in Stockholm in February 2020 that requires that fatalities and serious injuries are reduced in half by 2030. In our mission to carry out this vision, Voxelflow will also greatly enhance the mobility services and autonomous systems capabilities on collision warning and mitigation.
Based on recent findings and progress, way forward, Terranet’s strategy is to field test the technology by setting up demo vehicle platforms and test beds in close collaboration with OEM car manufacturers and Tier-1 component suppliers of active safety systems. This will be arrived at through a gradual industrialization and customer centric product development process. The present prototype including camera hardware will gradually be miniaturised to sensors which will be mounted in windshields and headlamps as part of future generations of advanced-driver-assisted-systems (ADAS) offerings for semi and fully autonomous cars.
Invented by Dirk Smits, now Terranet CTO, VoxelFlow was built upon the understanding that today’s camera-based computer vision and artificial intelligence navigation systems are simply too slow and subject to fundamental speed limits of perception using a frame based approach. Lidar has limited resolution and slow scanning rates, making it nearly impossible to distinguish between, for example, a fixed lamppost and a running child.
VoxelFlow’s capabilities are especially relevant considering harrowing statistics indicating that 80% of all crashes and 65% of all near-crashes involve driver inattention within the last 3 seconds of the crash. By providing life-saving decision making in milliseconds versus seconds, Terranet envisions transforming the pre-crash inattention that today accounts for roughly 1.35M road accident deaths into a forgotten collision-free swerve on the road.
Comparing the COVID-19 pandemic to car accidents is misguided and sets a false equivalency. However, yet approximately 1,35 perished in traffic last year according to WHO. That is 3700 road-deaths on average worldwide, everyday. It translates to seven fully occupied Airbus 380 crashing everyday without survivors. Road traffic crashes cost most countries 3% of their gross domestic product. Road traffic injuries are the leading cause of death for children and young adults aged 5-29 years. The horrible statistics on road-deaths is a matter of fact. While a virus is unpredictable, traffic casualties are predictable, and preventable. Terranet remains committed to pursue its vision, purpose and dedication to decrease fatal accidents through the exploration and discovery of new features related to Voxelflow – the life saving 3D motion software.
“We are seeing an advent of a paradigm shift where future holds a more conscientious community where progressive innovations on ADAS-technologies thrive and make the difference of life and death, in favor of design, horsepower and look and feel. It’s time to embark upon this life-saving ride. We can fix what is what is broken with a novel technology and 3D motion perception software called Voxelflow,” says Terranet CEO, Pär-Olof Johannesson.
Terranet design radio and 3D vision based ADAS software platforms for collision avoidance.
Terranet is headquartered in Lund, Sweden, with offices in Stuttgart and California.
Terranet Holding AB (publ) is listed on Nasdaq First North Premier in Stockholm.
Mangold Fondkommission AB – an independent securities services broker on Nasdaq is assigned as Terranet’s bookrunner on future share rights issues.