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(Sharecast News) - Shares in AIM-listed Seeing Machines rose on Friday after the AI-powered operator monitoring systems group announced a "significant" five-year agreement with an unnamed UK bus manufacturer.
The contract will see Seeing Machines deliver its Guardian Generation 3 preventative driver safety solution - which uses computer vision and machine learning to mitigate driver mistakes - to buses after manufacture across Europe.
The company said the deal will support sales for the unnamed OEM as the General Safety Regulation mandate for Advanced Driver Distraction Warning comes into force.
The UK OEM has already. installed around 200 vehicles with the tech, and makes over 1,700 units a year.
Meanwhile, Seeing Machines said homologation (the process of obtaining official approval from authorities) is currently underway with a further four commercial vehicle OEMs across Europe, representing a potential volume of 4,000 vehicles per annum.
The company also highlighted recent momentum in the demand for the Guardian tech from the oil and gas sectors across Europe, and bus, rail and tram markets in the UK.
"Collectively, these developments represent substantive recurring commercial opportunities, with the potential for a significant number of Guardian units to be deployed annually," the company said.
"This underscores the strong regional commitment to road safety and reflects the industry's ongoing push to enhance protection for both operators and passengers throughout Europe and the UK."
Seeing Machines shares were up 5.7% at 2.63p by 0921 BST.
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