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Strategic Elements and Honeywell to assess development of Autonomous Security Vehicle

Published: 12:43 03 Jun 2021 AEST

Strategic Elements Ltd - Strategic Elements and Honeywell to assess development of Autonomous Security Vehicle
Site Acceptance Testing has been achieved for the ASV developed for Eastern Goldfields Regional Prison.

Strategic Elements Ltd (ASX:SOR) is to negotiate a new agreement with global Fortune 100 software-industrial company Honeywell International Inc (NASDAQ:HON) to further develop and commercialise the Autonomous Security Vehicle (ASV).

This comes after the collaborators achieved Site Acceptance Testing (SAT) of the ASV developed for the Western Australian Department of Justice at the Eastern Goldfields Regional Prison (EGRP).

First of its kind in the world

SOR subsidiary Stealth Technologies has also developed custom robotics built on top of its AxV autonomous mobile platform to develop the first Autonomous Security Vehicle of its kind anywhere in the world.

This was achieved and announced on May 6, 2021.

With SAT achieved and the ASV successfully deployed, the parties have been active in negotiating a new agreement to further develop and commercialise the ASV.

If an agreement is finalised, Strategic Elements will inform the market accordingly.

Background information

Stealth Technologies initially signed an agreement with Honeywell in September 2019 to build experimental autonomous robotic vehicles.

On October 16, 2020, it was announced that “The company previously formed an agreement to collaborate exclusively with Honeywell on autonomous robotic vehicles for the correctional justice sector.

“Under the amendment the exclusivity period was extended for six months until April 9, 2021.”

Key terms of the agreement included:

  • Intention to work collaboratively to develop and pursue opportunities for autonomous robotic Vehicles;
  • Stealth Technologies agrees to collaborate exclusively with Honeywell to develop and pursue opportunities for autonomous robotic vehicles for a term of 12 months; and
  • Ownership of any material or intellectual property created by Stealth Technologies as well as any modifications will remain with Stealth Technologies.

Activities external to Honeywell agreement

The company has also been conducting ongoing discussions with potential pilot deployments for the ASV and the AxV Platform (autonomous technologies and robotics) in defence, security, agriculture, mining and other areas outside the correctional sector.

Strategic Elements is seeking to work closely with early adopters to deeply understand their use cases, solve their specific problems and continuously upgrade and improve the technology.

A further update will be released should an agreement be entered into for the ASV or AxV Platform. The ASV is designed to automate perimeter security.

It will be deployed to increase the security of the perimeter and reduce human involvement in testing and patrols.

The global perimeter security market is forecast to reach US$282.26 billion by 2025.

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