AI assistant
VECTION TECHNOLOGIES LTD — Capital/Financing Update 2020
Dec 22, 2020
66017_rns_2020-12-22_377f9dfb-3f7c-4f2f-8bf1-728dea177f67.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
23 December 2020 | Australia
==> picture [130 x 44] intentionally omitted <==
ASX RELEASE
VECTION TO PILOT AR WITH AGRI-FOOD LEADER, MUTTI
Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies , Vection or the Company ) is pleased to announce the execution of an initial pilot agreement with agri-food processing leader, Mutti SpA ( Mutti ), for its Augmented Reality ( AR ) solution, “Trainer Creator”.
==> picture [25 x 25] intentionally omitted <==
Highlights:
3D ● Vection signs augmented reality pilot with agri-food processing leader, Mutti ● Pilot to be deployed in the first of forty production lines operated by Mutti ● Trainer Creator is Vection’s software solution for tasks visualisation in AR, enabling VIRTUAL tangible efficiencies and cost savings REALITY ● Accelerated market positioning and commercial opportunities for the Trainer Creator since its launch in June 2020 Overview: AUGMENTED REALITY This initial pilot seeks to implement Vection’s Trainer Creator software solution within a first production line of the forty operated by Mutti. INDUSTRIAL Trainer Creator is a crucial solution for companies’ digital transformation journey, enabling machine IoT operators and technicians to visualise task-specific information superimposed on the machine, via an AR wearable or a smart device, enabling tangible efficiencies and cost savings. CAD
agrifood industry for the Trainer Creator software solution. Firstly established in 1899, Mutti is today the most loved Italian tomato brand, with €378 million in revenue in 2019. (https://www.mutti-parma.com/au/about-mutti)
The agreement with Mutti is a material advancement of the roll-out of the Company’s Trainer Creator AR solution across multiple industries.
This initial pilot agreement is valued at ~$50,000 in revenue1 for the first product line out of forty, with potential to extend the solution across the entirety of Mutti’s production lines and plants.
Gianmarco Biagi, Managing Director of Vection Technologies, commented:
“During the last 6 months we have been experiencing a strong market interest for our augmented reality solutions and products, since the launch of Trainer Creator. Mutti represents a key client in a new vertical and a strong opportunity for further growth for the Company, leading into 2021.”
Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041
1 AUD/EUR exchange rate at 22 December 2020 of 0.6182 (Source: Reserve Bank of Australia)
Europe North America Address: Via Isonzo 61 Address: 785 Market Street, #600 40033 Casalecchio di Reno (BO), San Francisco CA 94103 Italy USA
Media Enquiries [email protected] [email protected]
==> picture [23 x 35] intentionally omitted <==
1
Address: 642 Newcastle Street, Leederville WA 6007 Phone: +618 6380 2555
==> picture [130 x 44] intentionally omitted <==
Announcement authorised by Mutti SpA.
material. A successful pilot and roll out across this client's product line would represent a material opportunity to the Company .
Vection Technologies Investor Relations Contact Details
Gianmarco Biagi - Managing Director (Europe Based)
Email: [email protected] Phone: +39 051 0142248
Gianmarco Orgnoni - Director and COO (Australia Based) Email: [email protected] Phone: +61 8 6380 2555
ENDS
About Vection Technologies:
Vection Technologies Ltd (ASX:VR1) is a multinational software company that focuses on real-time technologies for industrial companies’ digital transformation.
Through a combination of our 3D, Virtual Reality, Augmented Reality, Industrial IoT and CAD solutions, Vection Technologies helps companies and organisations to innovate, collaborate and create value.
For more information please visit the Company’s websites:
vection.com.au
mindeskvr.com
ASX release authorised by the Board of Directors of Vection Technologies Ltd.
==> picture [25 x 25] intentionally omitted <==
3D VIRTUAL REALITY
==> picture [25 x 25] intentionally omitted <==
AUGMENTED REALITY INDUSTRIAL IoT CAD
Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041
Europe North America Address: Via Isonzo 61 Address: 785 Market Street, #600 40033 Casalecchio di Reno (BO), San Francisco CA 94103 Italy USA
Media Enquiries [email protected] [email protected]
==> picture [23 x 35] intentionally omitted <==
2
Address: 642 Newcastle Street, Leederville WA 6007 Phone: +618 6380 2555