TerraNet AB Names New Senior Leadership and Outlines Business Development and Growth Strategy
Göran Janson Named Chairmen of the Board of Directors; Senior leadership aligned on operating priorities and strategic objectives to bring breakthrough autonomous vehicle technology to key high-growth verticals
Lund, Sweden, September 15, 2020 – TerraNet AB (TerraNet/the Company), (Nasdaq: TERRNT-B.ST), developers of advanced driver-assist systems and the creators of breakthrough 3D motion awareness technology VoxelFlow, recently announced a new Chairman to its Board. The Company also outlined its business development and growth strategy, with an emphasis on commercial engagement in specific verticals.
Göran Janson, a serial entrepreneur who founded numerous companies and acts as an advisor to management teams, boards and individual leaders, has been named TerraNet’s Chairman of the Board of Directors, and is expected to support the Company’s quest to bring its revolutionary anti-collision technology to market. Göran is an engineer from KTH Royal Institute of Technology and Executive Board Member at The International Bateson Institute focusing on research that encourages and incubates projects, which examine the interactions within complex systems.
“TerraNet’s VoxelFlow is the most superior and advanced computer vision software and anti-collision system available, performing better than the human eye,” said Göran Janson, Chairman of the Board of Directors. “Despite the global challenges of 2020, TerraNet has surpassed a number of milestones and created relationships that we expect to take the Company to the next level. I look forward to working with TerraNet’s impressive team as we target key verticals for adoptions of our game-changing driver-assisted technology.”
TerraNet is targeting specific industry verticals in the near term: automotive brands and manufacturers, as well as ancillary companies that develop specific parts and systems for vehicles, like those that make brake components and air suspension systems. More specifically, TerraNet looks to capitalize on existing relationships with major players and seeks to partner with automotive companies and manufacturers that stand to benefit from VoxelFlow’s rapid edge detection, especially as the industry evolves to develop fully autonomous vehicles.
Currently, today’s camera-based computer vision and artificial intelligence navigation systems are simply too slow and subject to fundamental speed limits of perception because they use a frame-based approach. Many use cameras that aren’t much stronger than what comes standard in iPhones, which produce a mere 33,000 light points per frame. By contrast, TerraNet’s VoxelFlow is the future of autonomous driving because it classifies dynamic moving objects at extremely low latency using very low computational power, producing 10 million 3D points per second.
The Company is currently engaged in ongoing partnerships discussions and will disclose details and further information as they occur.
“VoxelFlow is the next evolutionary step in autonomous vehicle technology, a category that we expect to flourish as autonomous driving garners more adoption from automotive companies and becomes the standard for manufacturing,” said Pär-Olof Johannesson, CEO of TerraNet. “With our leadership team in place, TerraNet is well positioned to execute on its strategic objectives for both technology development and establishing commercial partnerships, and ultimately, revenue.”
TerraNet has a strategic focus in active safety and develops software for radio-based solutions, as well as three-dimensional image analysis for advanced driver support and self-driving vehicles (ADAS and AV). TerraNet is headquartered in Lund, Sweden with established sales and marketing agents in the United States and Germany. TerraNet Holding AB (publ) is listed on the Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B.ST),. Learn more at https://terranet.se.
FOR MORE INFORMATION
Pär-Olof Johannesson, CEO
Tel: +46 70 332 32 62