Terranet begins integration of prototype in car - contractual tests are expected to be completed during the second quarter of the year

Terranet AB (publ) or the "Company") today announces that the Company has started the preparatory work for the upcoming prototype tests of BlincVision in car during the second quarter of the year. Important tests are expected to be completed during the second quarter of and to be contractual. Dialogue with world-leading manufacturers and suppliers forms the basis for how the tests are designed.

At the beginning of April, the company initiated the work of optimizing the various components of our BlincVision system based on last quarter's test results. Furthermore, work on product specifications and preparations for the upcoming prototype tests in car will be intensified in line with the previously communicated time and development plan. The company is now well on track for the upcoming prototype demo in the car, mainly after a number of strong progress in development work that was recently communicated to manufacturers, suppliers and the stock market.

During the second quarter of the year, the Company intends to continuously update the stock market on the Company's continued development within the framework of the ongoing tests.

A film is available on the Company's Youtube channel and shortly also on our website about the prototype tests carried out during the first quarter.

Magnus Andersson, CEO of Terranet comments:

"Terranet is in an incredibly exciting stage where years of development are finally coming to a head. The fact that the Company is now initiating these tests is a significant milestone in the development work carried out in recent years in the Company.

We see a greater interest in our technology, which is evident from the feedback we continuously receive from leading car manufacturers and suppliers.

It is very encouraging that BlincVision has now reached a completely different level of technical maturity, which we can directly take with us and use in ongoing partner dialogues.

At the beginning of the year, we have been around the world and presented Terranet to the automotive industry, most recently we had the pleasure of presenting Terranet and BlincVision at the VTM fair in Turin, Italy, together with Business Sweden and Jan Björklund, Sweden's ambassador to Italy. In the future, we also intend to inform the stock market about the events that we will attend during the year."

For more information, please contact:

Magnus Andersson CEO

Email:

About Terranet AB (publ) 

Terranet is on a mission to save lives in urban traffic. 

We develop breakthrough tech solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect vulnerable road users. 

With a unique and patented vision technology, Terranet’s anti-collision system BlincVision scans and detects road objects multiple times faster and with higher accuracy than any other ADAS technology available today.

Terranet is based in Lund, Sweden, and in the heart of the European automotive industry in Stuttgart, Germany. The company is listed on Nasdaq First North Premier Growth Market since 2017(Nasdaq: TERRNT-B). 

Follow our journey at 

Certified Adviser to Terranet is Mangold Fondkommission AB, 08-503 015 50, .

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