Terranet Licenses 3D Motion Perception Patents to Pursue Opportunities in Autonomous Self Driving Vehicles & Delivery Automation
Lund, Sweden- Terranet, a leading provider of positioning and communications software for autonomous driving vehicles, today licensed 3D Motion Perception (Computer Vision) patents from Gerard “Dirk” Smits. Together with Dirk as an independent consultant, Terranet will jointly promote this technology in order to secure key customer design-win projects in the autonomous vehicle and delivery automation space.
The market potential and growth in technologies for autonomous vehicles and delivery automation was estimated to be at 54.9 billion SEK for year end 2018 with a projected CAGR of 31.5% from 2019-2024 according to Business Wire (2019). Autonomous vehicles utilize RADAR, LIDAR and computer vision in order to sense their environment and avoid collisions. Roughly 483 billion SEK has been invested over the past 5 years in the autonomous driving and delivery automation market with trial services already being deployed by industry leaders such as Waymo, Uber, Nutonomy (acquired by Aptiv) and many others.
In the specific field of 3D Motion Perception and Computer Vision, Dirk has privately assembled a host of fundamental patents (24+) over the last decade and has trademarked his technology under the names of “PhotonJet” and “VoxelFlow”. These groundbreaking visual perception techniques enable extremely accurate High Definition (HD) scanning of close range objects (within 50 feet) to identify persons and objects in the direct pathway of autonomous vehicles. This technology is especially relevant to increasing the safety and reliability of autonomous self driving vehicles.
In total, Terranet has secured rights to use and sublicense 24 of Dirk’s patents for a period of 10 years. Dirk has also filed for broader coverage for many of the key patents in major markets such as the EU and Asia. The following USPTO patents below have been licensed to Terranet.
8,282,222 // 8,30,512 // 8,573,783 // 8,696,141 // 8,711,370 // 8,971,568 // 9,377,533 // 9,501,176 // 9,581,883 // 9,753,126 // 9,813,673 // 9,810,913
9,946,076 // 10,043,282 // 10,061,137 // 10,067,230 // 10,084,990 // 10,157,469 // 10,261,183 // 10,274,588 // 10,324,187 // 10,325,376 // 10,331,021 // 10,379,220
For more details see (https://patents.justia.com/inventor/gerard-dirk-smits)
Terranet will have the right to brand and promote these technologies to its world-wide customer base. The first step is to develop proof-of-concept hardware designed for field trial testing in 2020-2021. The technology is complementary to current Lidar, Radar, camera systems, and is intended to significantly enhance the safety of people, pets and objects on today’s roadways.
“This agreement adds valuable 3D Motion Perception IP to Terranet’s existing portfolio of communications and positioning patents. We have partnered with a highly creative inventor in Dirk to jointly pursue major automotive and delivery automation companies world-wide. Our aim is to save lives and improve the safety of roadways” says Pär-Olof Johannesson, CEO of Terranet.
“Thanks to Terranet for trusting in my IP to create opportunities for never-before-seen resolution in 3D motion perception. I look forward to our upcoming roadshow,” says Gerard Dirk Smits
Terranet is headquartered in Lund, Sweden with sales offices in the US and Sweden. A recognized leader in positioning and communications software technologies, Terranet’s expansion into 3D motion perception allows for the company to be uniquely positioned to service the autonomous vehicle and delivery automation markets.
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Terranet has a strategic focus within active safety and develops software for radio-based sensors as well as GPS and non-GNSS solutions intended for self-driving vehicles. Terranet is headquartered in Lund, Sweden with established sales and marketing agents in the US and Germany. Terranet Holding AB (publ) is listed on Nasdaq First North Premier.
This is information that TerraNet Holding AB is required to disclose under the EU Market Abuse Regulation. The information was provided via the above contact person for publication on September 2nd , 2019 at 12:30 CEST.
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