Strategic Elements Ltd’s (ASX:SOR) artificial intelligence and robotics company Stealth Technologies will work with global Fortune 100 software-industrial company Honeywell to build experimental autonomous robotic vehicles.
Stealth and Honeywell International Inc (NYSE:HON) intend to work collaboratively for a term of 12 months to develop and pursue opportunities for autonomous robotic vehicles.
This involves Stealth collaborating exclusively to develop an experimental vehicle for which an initial payment of approximately A$100,000 will be received to begin the work.
Any further payments will depend on the outcome of additional opportunities identified through the collaboration.
Strategic Elements managing director Charles Murphy said 100%-owned Stealth Technologies was generated by the directors of Strategic Elements.
He said, “An enormous amount of effort over the past 10 months has grown the venture from conception to working with one of the world’s leading technology companies in Honeywell.
“The team has been working to finalise a number of opportunities and we look forward to potentially unveiling some highly innovative projects.”
Shares reach 12-month high
Strategic Elements shares have this morning reached a new 12-month high of 9.4 cents, up more than 42% on the previous close.
Most attention around autonomous technology has focused on high profile self-driving projects by large global companies with long development timeframes.
However, there are many other autonomous technology use cases that have immediate payback and are feasible with today’s technology.
These often involve the use of autonomous mobile robots, which are designed for specific actions and tasks and can be designed to work in an unpredictable environment.
The main activities of autonomous mobile robots are navigation, mapping, localisation and movement.
Robots widely used
Robots are widely used for inspection, transportation and surveillance activities.
Autonomous mobile robots also play an economic role in the military services, services industry, mining and metals, electricity sectors, oil and gas, automotive, building and healthcare industries.
Stealth Technologies’ stealthOS will initially target these applications with a focus on security-related applications, through Honeywell, and the Mining and Defence sectors.
Experienced in-house team
This will be facilitated by Stealth’s experienced in-house team of international award-winning PhD and Masters qualified research engineers with deep capabilities in AI, computer vision and robotics.
The team is augmented by members of Strategic Elements and key advisors who have strong commercial expertise in complex data analytics and software development with large multi-national corporates.
Most AI companies only focus on software development. Stealth’s point of difference is the multi-disciplinary capability to:
- Physically custom build automated robotic machines;
- Integrate computer vision capabilities enabling a computer to see (through cameras and sensors); and
- Create artificial intelligence through machine learning and software development.
The company also has a significant capability in computer vision technology.
Global growth in visual data will be exponential over the next five years with industry research predicting a proliferation of cameras integrated into products across industries and markets.
As part of the agreement with Honeywell, ownership of any material or intellectual property created by Stealth Technologies as well as any modifications will remain with Stealth Technologies.
“A significant achievement”
Murphy said, “This is a significant achievement for Stealth Technologies and the Strategic Elements team.
“Strategic Elements director Elliot Nicholls, who has First Class Honours qualifications in engineering and robotics, has been instrumental in leading the technical team and forming partnerships.
“Strategic Elements director Matthew Howard, who has significant data software experience with US$ 150+ billion company Oracle, has also been a driving force behind Stealth Technologies.
“I congratulate the whole team and look forward to the period ahead,” he added.