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Highlights
- Acusensus (ACE) secures a significant extension to its mobile phone and seatbelt safety program in Queensland.
- New speed enforcement initiative signed with the New Zealand Transport Authority.
- Acusensus completes $12m capital raising to support international growth and innovation.
Acusensus (ASX:ACE) has secured a $27.4 million extension to its agreement with the Queensland Department of Transport and Main Roads, doubling the deployment of trailer-based enforcement units targeting mobile phone and seatbelt violations. This initiative aims to enhance road safety outcomes across Queensland.
The deployment of these units will commence in February 2025, with a phased rollout expected to conclude by July 2026. Each unit will be operational for an initial term of five years, marking a significant step toward reducing road-related risks and casualties in the region.
Artificial Intelligence in Road Safety
Known for its innovative approach, Acusensus (ACE) delivers AI-enabled solutions to governments and commercial entities, focusing on reducing risky behaviors such as distracted driving and non-compliance with seatbelt regulations. The company’s technology captures prosecutable evidence to support enforcement efforts, making roads safer for the community.
Acusensus’ managing director, Alexander Jannink, emphasized the life-saving potential of these programs. He highlighted the importance of supporting government initiatives to improve safety measures, which the extended agreement exemplifies.
New Zealand Speed Camera Initiative
Adding to its portfolio, Acusensus (ACE) recently signed a master services agreement with the New Zealand Transport Authority Waka Kotahi for speed enforcement. The contract, valued at $83.7 million, spans five years with options for further extensions.
The program leverages vehicle- and trailer-based speed cameras, a pioneering step in road safety. Mr. Jannink noted that the initiative aligns with successful enforcement measures already in place, reinforcing the company’s commitment to reducing accidents and promoting safer driving behaviors.
Capital Raising to Fuel Growth
To support its expanding operations, Acusensus (ACE) completed a $12 million capital raising. The company raised $10 million through an institutional placement of 11.1 million shares at $0.90 each, with strong backing from existing and new investors.
Additionally, a non-underwritten share purchase plan aims to raise $2 million to fund business development, asset acquisition, and product innovation. This effort is expected to enhance market liquidity and strengthen institutional ownership of Acusensus shares.
Acusensus directors, including Mr. Jannink and Ravin Mirchandani, have also reduced their holdings via a block trade agreement. This move is anticipated to further align the company’s resources with its growth-oriented objectives.
Acusensus (ACE) continues to drive impactful advancements in road safety technology while expanding its footprint across domestic and international markets.
