Strategic Elements and Honeywell to assess development of Autonomous Security Vehicle
The company has also been conducting ongoing discussions with potential pilot deployments for the ASV and the AxV Platform in defence, security, agriculture, mining and other areas outside the correctional sector. 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).
Strategic Elements entering defence sector with autonomous vehicle platform
Subsidiary Stealth Technologies will conduct a feasibility and scoping study with the Defence Science and Technology Group for autonomous sensing and search of chemical, biological, radiological and nuclear sources. The study will integrate DST developed search algorithms into a Stealth drone autonomously launched and landed by a Stealth autonomous ground vehicle.
Strategic Elements Ltd (ASX:SOR) is entering the defence sector with its autonomous vehicle platform and will conduct a feasibility and scoping study with the Defence Science and Technology (DST) Group.
The study will focus on autonomous sensing and search of chemical, biological, radiological and nuclear (CBRN) sources.
Strategic Elements raises $3 million from institutional investors
The funds will be used to advance the company’s array of cutting-edge technologies as well as to explore new opportunities. There were 10 million shares issued at A$0.30 each, a 13% discount to the previous day’s closing price.
Strategic Elements Ltd (ASX:SOR) has strengthened its books through a successful $3 million placement to institutional investors.
The company will use the funds to advance its existing 100%-owned businesses and fund new potential opportunities.
Strategic Elements, a venture builder, has a range of technology projects, including the self-charging battery, which aims to run solely from moisture harvested from the air, and an automated robotic security vehicle.