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Strategic Elements’ (ASX:SOR) Stealth Tech and Honeywell extend contract
Honeywell CEO, Darius Adamczyk. Source: Bloomberg
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  • Strategic Elements' (SOR) subsidiary, Stealth Technologies and software-industrial company, Honeywell, have extended their agreement by a further six months
  • In September 2019, the companies entered a one-year agreement to build autonomous robotic vehicles for the correctional justice sector
  • The agreement is now valid until April 9, 2021, and will allow more time to continue negotiations for a broader partnership agreement
  • This year, Stealth and Honeywell also teamed up with the WA Department of Justice to develop the technology for use at a WA-based prison
  • Pleasingly, the technology has now passed user acceptance testing
  • Company shares are up almost 6 per cent and trading for 7.1 cents

Strategic Elements' (SOR) subsidiary, Stealth Technologies and Fortune 100 software-industrial company, Honeywell, have amended their existing agreement.

In September last year, Stealth and Honeywell formed a 12-month agreement to build autonomous robotic vehicles for the correctional justice sector.

The latest amendment will see the exclusivity period extended for six months - now expiring on April 9 2021. This extension will allow more time to continue negotiations for a broader partnership agreement.

In June this year, Stealth, Honeywell and the WA Department of Justice partnered to develop the autonomous security vehicle (ASV) to inspect, test and confirm the integrity at the Eastern Goldfield Regional Prison in WA.

Essentially, the new technology allows staff to focus on managing the safety, security and rehabilitation of prisoners.

In the June announcement, the company said final testing will begin in the September quarter. Pleasingly, Strategic Elements has today announced the ASV has successfully passed User Acceptance Testing (UAT).

The partners are also investigating the potential use of the product in other facilities with some changes such as using 4g or 5g networks.

Company shares are up 5.97 per cent and trading for 7.1 cents at 12:24 pm AEDT.

SOR by the numbers
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