As previously communicated, Terranet has been selected to participate in MobilityXlab's prestigious accelerator program, where several leading companies in the automotive industry are involved. The kickoff meeting was held recently, and the program has now begun. This gives Terranet a unique opportunity to develop and validate the advanced driver assistance system BlincVision, paving the way for bringing the product to market.

Since it started in 2017, around 1,100 startups from over 50 countries have applied to the MobilityXlab collaboration platform. Partners connected to MobilityXlab include Magna Electronics, Volvo Group, Polestar, Zenseact, and Zeekr Technology Europe. The program has led to more than 100 Proof of Concept (PoC) projects, where startups get the chance to show that their solution works in practice and meets the needs of industry partners. Out of these PoCs, more than 20 have resulted in commercial partnerships. Commercial acceleration means that a startup, after proving the potential of its solution through a PoC, takes the next step and establishes a partnership or contract with one or more of MobilityXlab’s partners. This opens opportunities for further development, collaborations, and potential market entry.

The program consists of three phases: Discover, Validate, and Accelerate. Terranet has entered the PoC to confirm the potential of the solution together with potential partners. Upon completion of the PoC, the goal is for the startup to strengthen the collaboration with partners, in the form of commercial agreements, and then bring the solution to the market. MobilityXlab’s program lasts six to twelve months. After that, the startup joins the alumni network and gets the opportunity to participate in future activities within MobilityXlab.

Due to confidentiality, Terranet cannot disclose specific details about the structure of the project. However, there is significant interest among the companies, and the PoC involves both car manufacturers and major leading suppliers.

"We are pleased to have initiated concrete collaboration with leading companies in the automotive industry and look forward to the results of this prestigious program, as well as being part of this ecosystem. In the fourth quarter, we plan to provide the market with an update on the progress. While the program is in progress, we will continue our discussions with other stakeholders to bring BlincVision to the market as soon as possible," says Magnus Andersson, CEO of Terranet.

For more information, please contact:        
Magnus Andersson, CEO        
E-mail: magnus.andersson@terranet.se

About Terranet AB (publ)
Terranet's goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available today.

The company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B). Follow our journey at: www.terranet.se