Grants available to improve rail network

Posted on 26 Sep 2017 and read 348 times
Grants available  to improve rail  networkSeeing Machines Ltd (www.seeingmachines.com), a specialist in computer vision technologies that enable machines to ‘see’, understand and assist people, has signed a new extended partnership agreement with Progress Rail Services Corporation.

A Caterpillar company, Progress Rail is one of the world’s largest integrated and diversified suppliers of rail and transit system products and services.

The agreement provides exclusive world-wide licence rights to Progress Rail (for core rail applications under specific conditions) on a royalty basis that incorporates minimum royalty revenue growth commitments.

Seeing Machines’ Paul Angelatos said: “We are delighted to be moving our partnership with Progress Rail into the commercial phase.

“Having worked closely over the past few years to understand and develop a robust solution for the rail industry, it’s very pleasing that both parties share the same vision and see a large market opportunity to enter the commercial ramp phase.

“We are confident that our extended partnership agreement will deliver significant benefits in safety and productivity across the rail sector.”

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