Computer technologies specialist Seeing Machines has signed a new extended partnership agreement with rail products and services supplier Progress Rail Services Corporation, a Caterpillar company.
The document builds on the existing partnership between the two companies. The agreement gives Progress Rail the exclusive worldwide license rights to Seeing Machines’ technology for core rail applications, on a royalty basis incorporating minimum royalty revenue growth commitments.
Under the previous agreement, Seeing Machines and Progress Rail worked closely on extensive trials with multiple rail operators, enabling both parties to understand, develop and optimize the application of the Seeing Machines operator monitoring technology for the rail environment as well as to gain a deeper understanding of the significant challenges that rail operators face in terms of fatigue and distraction.
“We are delighted to be moving our partnership with global leaders Progress Rail into the commercial phase now. Having worked closely over the past few years to understand and develop a robust solution for the rail industry through trials, it’s very pleasing that both parties share the same vision and see large market opportunity to enter the commercial ramp phase, which will deliver significant benefits in safety and productivity across the rail sector,” Paul Angelatos, SVP & GM Fleet, Rail and Off-Road, Seeing Machines, said.
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