Renewal of Exclusive Distribution Agreement
25 March 2022
Journeo plc
("Journeo", "Company" or "the Group")
Renewal of Exclusive Distribution Agreement for mirrorless rear-view camera monitoring
Journeo plc (AIM: JNEO), a leading provider of information systems and technical services to transport operators and local authorities, is pleased to announce the renewal of the exclusive distribution agreement with Safety Tech, a subsidiary of Vision Systems France, for the Journeo 'mirrorless' Camera Monitoring System (CMS) for bus and coach operators and original equipment manufacturers (OEMs) throughout the UK. Details of the original agreement were announced by the Company on 2 November 2018.
In addition, under the terms of the new 3-year agreement, the Company are also able to supply Journeo CMS to specialist vehicle providers and to bus and coach operators throughout Sweden via the Company's subsidiary 21st Century AB based in Stockholm. The first installation in Stockholm is scheduled to complete this month before going into service with Arriva Sweden for evaluation.
Journeo CMS has been installed on over 1,000 buses across 27 fleet operators and is the market-leading solution of its type for buses in the UK. Comprising a number of high-definition digital cameras and monitors, it replaces the traditional external wing mirrors to improve visibility, reduce the risk of accidents and reduce lifetime running costs of the vehicle.
In January 2022, Journeo CMS was the first system to be retrofitted to an Alexander Dennis E400 vehicle already in service with Nottingham City Transport. The installation enables operators and authorities to evaluate the benefits of upgrading legacy vehicles to assist in achieving their goals of improving safety for passengers and other road users. In London, TfL's Vision Zero programme requirements now mandate that CMS, rather than wing mirrors, be installed on all new London buses entering service.
Russ Singleton, Chief Executive Officer commented:
"We are delighted with the performance, reliability and adoption of the Journeo CMS safety system by an increasing number of fleet operators. It consistently delivers high-quality images in all driving conditions and both the system and installation fully comply with requirements of the United Nations Regulation ECE R46.
Journeo CMS will continue to play an important part in our comprehensive range of advanced vehicle safety and monitoring solutions that use the Journeo EDGE vehicle gateway and cloud-based SaaS systems to help operators monitor and manage their safety critical systems remotely".
A digital copy of this announcement will be available on the Group's website: www.journeo.com.
For further information, please contact:
|
Journeo plc Russ Singleton/ Nick Lowe
|
+44 (0) 203 651 9166 |
|
Cenkos Securities - Nominated Adviser and Broker Katy Birkin/Callum Davidson |
+44 (0) 207 397 8900 |
Notes to editors:
Journeo plc is a leading information systems and technical services business focussed on public transport and related infrastructure within towns, cities, airports, and local authorities. The Company works extensively with local government departments, combined authorities, and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable smarter-cities future.
The business currently comprises two segments:
· Fleet operator solutions: CCTV video surveillance to improve passenger & driver safety, telematics for vehicle and driver performance monitoring, real-time communications for remote condition monitoring and automatic passenger counting.
· Passenger infrastructure solutions: design, manufacture, installation, and management of hardware and software for electronic public transport information systems, in and around towns, cities, ferry terminals and airports which includes smart-ticketing and wayfinding.
In the last 4 years, the Company has invested over £5 million in research and development, enabling it to design and supply powerful new solutions for customers' complex requirements and the demands of modern public transport. With an Internet of Things ("IoT") approach and open standards, together with field-proven and reliable engineering, Journeo is able to offer flexible, scalable products and services that can integrate with existing technology while preparing for future advancements.
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