Business
US Fleet Contract
US Fleet Contract.
About this update from Seeing Machines Limited
[{"type":"text","content":"\n \nRNS Number : 9557X Seeing Machines Limited 28 February 2017 \n\n \nSeeing Machines Limited\n(\"Seeing Machines\" or \"the Company\")\n \nSeeing Machines signs Multi Year Contract with US Fresh Goods Distributor, Shamrock Foods Company\n \n28 February 2017\n \nSeeing Machines (AIM: SEE), the AIM listed technology company with a focus on operator monitoring and intervention\nsensing technologies and services, announces a multi-year services contract with Shamrock Foods Company (\"Shamrock\"), a leading US Distributor of fresh goods with a large presence in the US South West.\n \nSeeing Machines commenced an assessment program with the Shamrock Food Company 12 months ago and has been working closely with Shamrock since then in an effort to ensure the Seeing Machines Guardian System and SafeGuard Program is well implemented to maintain the outstanding driver safety benefits that were achieved during the assessment period.\n \nThe multi-year agreement will see 750 of Shamrocks' heavy vehicles fitted with the Guardian System and the Shamrock drivers further protected by the Seeing Machines SafeGuard Center located in Tucson, Arizona. \n \nPreviously, Seeing Machines' revenue was predominantly derived from CAPEX sales to the mining sector. Since licensing the mining IP to Caterpillar in 2016, the Guardian division is delivering longer-term contracted, recurring monthly revenue streams. This means commercial fleet customers are billed on a per-truck, monthly basis. The number of carriers currently assessing the technology and converting into contracts is confirmation of the model which provides Seeing Machines with greater revenue predictability, customer retention and ongoing product uptake.\n \nMr. Paul Angelatos, President, Guardian Systems and Seeing Machines COO commented: \"Anytime we win a major contract there is naturally a good deal of excitement. In this case, the fact that we are going t...