The innovative e-bike product will offer first-of-its-kind safety applications for cyclists
Lund, Sweden - Dec 6th, 2021 - Terranet AB (Terranet/the Company), (Nasdaq: TERRNT-B.ST). Terranet, the creators of groundbreaking vehicle safety technology, VoxelFlow™ announced today their latest e-bike innovation for urban mobility, BlincBike, a landmark step forward for micromobility safety. BlincBike is a connected e-bike product comprising a rear-view monitoring system that empowers cyclists to avoid accidents and assist in making smarter decisions on the roads by classifying the object, read the distance, and predict the intention of the object. Their first venture in the micromobility space. BlincBike will continue to move Terranet’s mission forward of making the world safe for urban roadway users, by a new collision warning system.
The first of it’s kind safety product will help bicyclists keep their eyes on the road ahead and fits into any e-bike. BlincBike will keep an eye on the hazardous events potentially occurring from behind the cyclist with a full capture rear view. The new class of a Rear-View monitoring system can detect, track and classify objects by using AI-based computer vision, machine learning and deep neural networks. Its leading algorithms will be able to classify objects and discern the appropriate threat and risk level, empowering cyclists to make smart and safe decisions in time. In-motion recordings will capture critical traffic situations to assist in the insurance claims processes, but also for easy social editing and sharing via smartphone.
“BlincBike is our first product to target micromobility, but we see a tremendous potential in providing safety products in the forsaken and rapidly expanding micromobility space,” said Terranet CTO Nihat Küçük. “In the last four years, e-bikes were responsible for nearly 200,000 emergency room visits in the U.S. With our urban safety mission in mind, expanding into rapidly growing micro mobility solutions is the logical next step for Terranet. We are thrilled to progress in using our unique technologies and continue advancing our mission of revolutionizing urban roadway safety.”
This smart bicycle product will predict the movement of objects not visible to a cyclist and alert the user when there is anything that needs immediate attention. For example, 30% of all bicycle crashes are caused by cars and the most common bicyclist-motorist collision type is a rear end collision. With BlincBike, if a car suddenly approaches from behind, the cyclist will receive a warning on the rear view display mounted on the handlebars and/or through haptic feedback placed at the choice of the cyclist. This will allow the cyclist to avoid making any drastic turns that can cause a collision with the recognized object. A smart taillight will indicate the cyclist’s actions to the upcoming traffic: braking, moving or stopping.
The first product will consist of two easily attachable and detachable parts, one rear view display placed on the handlebars, and one camera with rear light placed underneath the bike seat. The rear view display will ensure that the cyclist will have crucial information about what is happening on the road behind in real time, but also get notified in case any objects are approaching from behind. BlincBike is uniquely positioned to meet the needs of urban citizens, where 70% of all fatal bicycle accidents occur and it’s a growing number of fatalities year on year.
The announcement comes on the heels of holistic updates to the Terranet product line and brand as the company continues to bring new products to market. As parts of the VoxelFlow™ technology expands into different aspects of mobility from Autonomous Vehicles and ADAS vehicles to micromobility safety products going forward VoxelFlow™ will now speak to Terranet’s overarching software stack used to power their mobility safety products. The VoxelFlow™ expertise and proficiency will be applied to the BlincVision and BlincCompute, respectively. A momentous end to a busy year, as Terranet continues to grow the company is excited to utilize VoxelFlow™ in new and exciting ways bringing the world one step closer to a world with zero urban roadway accidents.
Terranet AB (Nasdaq: TERRNT-B). With a vision to save lives Terranet designs and develops a new class for vision-based sensor systems, used for road safety. It markets and delivers a software stack with features available across vehicle platforms and car models. The technology was handpicked and showcased twice at Startup Autobahn in 2021. The company is located in Lund and Stuttgart. Terranet AB (publ) is listed on the Nasdaq First North Premier Growth Market. Discover more about Terranet: www.terranet.se/en/. You can now subscribe to Terranet’s newsletter, sign up at: www.terranet.se/en/ir-2
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This information is such that Terranet AB is required to make public in accordance with the EU’s Market Abuse Regulation (MAR). The information was made public by the Company’s contact person above on Dovember 6, 2021 at 1 pm CET.
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