PERTH, Australia, Sept. 12, 2022 /PRNewswire/ -- ASX listed Strategic Elements Ltd (ASX: SOR) is pleased to announce that automation and robotics Company Stealth Technologies (Stealth) has signed an agreement with global software-industrial company Honeywell to progress commercialisationof Autonomous Security Vehicles (ASVs) for perimeter security. - Stealth will engage exclusively with Honeywell for customers in the correctional, telecommunications and defence industries in Australia, New Zealand and other countries as agreed by the parties. - Under the agreement, an ASV Pilot Deployment program will be conducted to establish a supportive engagement for innovative customers to deploy an ASV in their organisations and obtain hands-on insights into the perimeter security benefitsof robotic automation and autonomous vehicles. - The Stealth and Honeywell teams have enabled real-time integration of the ASV with the Honeywell Enterprise Buildings Integrator product, which has thousands of systems deployed globally. - ASV Pilot Deployments will further validate perimeter security use cases, model the return on investment with real-world customer feedback, explore the most effective ways of introducing robotics and autonomous vehicles, and direct customer feedback into engineering. The first-generation Stealth ASV autonomously navigates pre-defined missions to autonomously test critical Perimeter Intrusion Detection Systems (PIDS) and conduct surveillance. Operational testing of PIDS infrastructure is required multiple times daily and is currently only possible through physical interaction between security personnel and PIDS. This is a critically essential but mundane task, which may produce inconsistent test results, cause physical damage to PIDS, lack traceability, and reduce testing frequency due to high labour costs. It engages highly skilled staff for a labour-intensive process that could be redeployed elsewhere. The ASV has robotic components that simulate cutting or climbing thesecure perimeter fence. It autonomously tests photo-electric beams, microphonic and fibre-optic fence sensors, buried electromagnetic cables and microwave beams. Multiple sensors provide patrol and surveillance, including a military-grade camera that offers 360-degree high-definition video. The ASV has successfully achieved thousands of operational PIDS tests in previous live trials at a correctional facility. Under the agreement, Honeywell will be responsible for identifying, engaging, and maintaining customer relationships, procuring access to customer facilities, processing fees and entering into and maintaining agreements with customers to facilitate ASV Pilot Deployments. The parties will agree a fee structure based on the direct operational costs and an additional amount having regard to the relevant ASV Pilot Deployment. Background IP and IP rights generated will be owned by the originating party. All materials and Intellectual Property Rights associated with the ASV, including any data generated by or in connection with the ASV, shall be owned by Stealth. The agreement term is for 24 months unless extended by agreement in writing by the parties or terminated earlier under the provisions of the agreement, which are considered customary for agreements of this nature. Honeywell Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Honeywell technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make the world smarter, safer, and more sustainable. Stealth Technologies Stealth Technologies has been developing its automation and robotics platform in conjunction with collaborators across different programs that have included The University of Western Australia, Defence Science Technology Group (part of the Australian Department of Defence), the Eastern Goldfields Regional Prison (part of WA Department of Justice) Honeywell and others. It is developing automation and robotics technology through its AxV Platform in perimeter security, mining, and agriculture. Stealth is currently 100% owned by Strategic Elements Ltd. Strategic Elements The Australian Federal Government has registered Strategic Elements as a Pooled Development Fund with a mandate to back Australian innovation. The Company is listed on the ASX under the code "SOR". The Company generates early-stage ventures by combining teams of leading scientists or innovators from research organisations and industry. SOR majority funds the initial development of each venture whilst seeking a strategic investor that could strongly assist commercialisation. The Federal Government provides certain investors in SOR with preferential tax treatment under the Pooled Development Program. www.strategicelements.com.au This announcement was authorised for release by the Strategic Elements' Board of Directors. SOURCE Strategic Elements Ltd