Terranet AB (publ) is moving closer to the milestone of the first prototype of Terranet's unique Advanced Driver Assistance System, BlincVision, which will be presented during the first quarter of 2024. The demonstration of BlincVision's functionality is essential for signing a contract with car manufacturers or their major suppliers to further finalize the product and achieve economies of scale in production. Since the proof of concept demonstration at Startup Autobahn back in 2021 the company has made progress in simulated environments, taken the idea from a concept to prototype specifications, assembled the first laser scanner unit, developed the calculations for trajectories and triangulation, and started building the AI-based software stack for object recognition and classification.

Because BlincVision is such an advanced product, with technology that has never been introduced to the automotive sector before, it requires significant time and focused effort to get each component to work in an integrated system to deliver the world's most responsive ADAS system. The sensor performance and cost level is obviously an important part of BlincVision. Terranet has been and is still evaluating different sensors and suppliers in order to get to a stable product with the right performance.

Terranet is currently in an all- hands product development phase with the aim of presenting a prototype in the laboratory in Lund the first quarter of 2024. A subsequent prototype demonstration on a vehicle in a test environment will take place during the second quarter. The milestones in product development are: 2024 Quarter 1: Demonstration of prototype in laboratory environment; 2024 Quarter 2: Demonstration of prototype on vehicle in test environment; 2024 Miniaturization and improved opto-mechanics for laser scanner unit; 2024 Second generation of AI based object perception technology.