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SenSen Networks director shows faith in company with on-market share purchase

Transport for New South Wales ordered new digital road safety cameras on April 23 powered by SenSen’s AI software to measure vehicle average speeds between designated locations.

SenSen Networks Ltd - SenSen Networks non-executive director demonstrates faith in the company with purchase of shares worth more than $25,000
SenSen completed installing and commissioning the new system prior to COVID-19 related disruptions

SenSen Networks Ltd (ASX:SNS) non-executive director Heather Scheibenstock has demonstrated her faith in the company’s road safety technology and product development with an on-market purchase of shares.

On May 1 Scheibenstock acquired 227,300 shares worth more than $25,000 and it was her first SNS purchase.

Deployment of road safety cameras

SenSen recently completed the deployment of road safety cameras in NSW following orders worth approximately $614,000 for the 2020 financial year from Transport for NSW (TfNSW).

These cameras are powered by SenSen’s AI software to measure and enforce vehicle average speeds between designated locations.

TfNSW has been a Smart City customer of SenSen since 2011 and leads the development of safe, integrated and efficient transport systems for the people of NSW.

The new SenSPEED 3.0 ANPR camera and software solution developed over the last 12 months has met the high standards set by TfNSW for speed measurement and enforcement purposes, aimed at increasing the compliance of motorists and ultimately saving lives.

It was gazetted by the NSW Minister for Transport and Roads on December 11, 2019, allowing the SenSPEED 3.0 ANPR camera and software solution to be legally used as an average speed monitoring and speed enforcement camera within the state.

Quick facts: SenSen Networks Ltd

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Market Cap: $69.68 m

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SenSen Networks records highest cash receipts since listing on ASX

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on 2/8/21

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