Source - LSE Non-Regulatory
RNS Number : 9465V
Microlise Group PLC
11 July 2024
 

11th July 2024

 

Microlise Group plc

("Microlise", "the Group" or "the Company")

 

New Products

 

Microlise Group plc (AIM: SAAS), a leading provider of SaaS based technology solutions to fleet operators and manufacturers, is pleased to announce the launch of a series of new products, all of which are fully integrated with the Group's wider product portfolio.

 

The addition of these products focuses on bringing USP's to the Microlise transport and logistics product offering, ensuring strategic growth within both new and existing customer base by providing upsell opportunities and strengthened new customer acquisition capabilities.

 

Driver Hazard Warning (DHW)

 

HGVs have many blind spots where vulnerable road users (VRUs) such as a cyclist, e-scooter or delivery moped rider cannot be seen. DHW is a 360-degree warning system that alerts HGV drivers if a VRU such as a cyclist, e-scooter or delivery moped rider is near their vehicle. HGV accidents involving VRUs are 15% more likely to result in a fatality, in comparison to a normal passenger vehicle. DHW is designed to help prevent such accidents.

 

DHW also alerts drivers to static hazards in their environment, such as low bridges. In 2022 there were c.1800 bridge strikes in the UK with an average cost of £13,500 per accident. This can rise to as much as £800,000 for a single collision, particularly in the event of striking a railway bridge, where subsequent delays to train services are passed on to hauliers.

 

DHW has been developed alongside the Flare products procured by Microlise on acquiring the K-Safe business in December 2023. DHW proactively helps transport and e-mobility companies prevent accidents thereby reducing risk of injuries or fatalities and the related costs and insurance premiums. The addition of this new product adds upsell opportunities for existing customers with no additional hardware requirements.

 

Direct Vision Standards 2024

 

Microlise has developed a Progressive Safety System that ensures vehicles comply with London's Direct Vision Standards 2024 (DVS) which comes into force in October 2024, as part of the Mayor of London's Vision Zero plan to eliminate deaths and serious injuries on London's transport network by 2041. The updated DVS solution ensures that HGVs can operate safely and legally within London.

 

The new DVS system adds to the existing 2023 compliant DVS solution, by using AI-enhanced blind-spot and moving-off sensors with in-cab warnings, designed to detect pedestrians and cyclists while eliminating false alerts from stationary objects. The solution also integrates seamlessly with the wider multi-camera system offering comprehensive all-round visibility for drivers.

 

By leveraging advanced technology, fleet operators can not only comply with the new DVS regulations but also benefit from detailed alerting and analysis reports, along with incident footage recording to protect drivers from liability.

 

Microlise's solution is available for both upgrades to existing systems and complete installations for new vehicles, ensuring all fleets operating in the London area are prepared for the 2024 standards.

 

The deadline of October 2024 is driving upgrades from existing customers and new customer implementations to ensure readiness for the new standard.

 

Proximity Beacons

 

Powered by Bluetooth Low Energy (BLE) technology, Microlise's Proximity Beacons offer customers an asset tracking system that creates a low-cost, consolidated view of all assets under management. The product utilises the large mesh network created by the existing Microlise telematic units fitted to customer vehicles, to ping location data back to customers within the Microlise platform. UK retailers reported £7.9 billion in losses from warehouses and distribution centres in 2023, with further impacts through customer dissatisfaction and increased complexity of inventory management. The proximity beacons aim to minimise the loss of unpowered assets, help safeguard high-value cargo against theft, and give customers improved visibility of their entire fleet.

 

The Beacons utilise the existing Microlise mobile network across the UK and provide monitoring for assets which were previously uneconomic to track, thus providing a new market segment for and cross sell opportunities.

 

 

Nadeem Raza, CEO of Microlise, commented: "In line with our strategic goals, we continually strive to offer the best, most comprehensive suite of solutions to our clients and we are delighted to announce the launch of this series of new products. Safety, compliance, and asset tracking are all integral to the success of our clients' businesses. We look forward to updating the market with the launch of new and innovative products as they occur."

 

 

Notice of Trading Update

Microlise plans to publish its half year trading update on Tuesday 30th July 2024.

 

 

For further information, please contact:

 

Microlise Group plc


Nadeem Raza, CEO

Nick Wightman, CFO

C/O SEC Newgate

Singer Capital Markets (Nominated Adviser & Broker)



Steve Pearce / James Moat / Harry Gooden

Tel: 020 7496 3000

SEC Newgate (Financial Communications)



Bob Huxford / Molly Gretton / Harry Handyside          

Microlise@secnewgate.co.uk

 

About Microlise

Microlise Group Plc is a leading provider of transport management software to fleet operators, helping them to improve efficiency, safety, and reduce emissions. These improvements are delivered through reduced fuel use, reduced mileage travelled, improved driver performance, fewer accidents, elimination of paperwork and delivery of an enhanced customer experience.

 

Established in 1982, Microlise is an award-winning business with over 400 enterprise clients. With 463 employees based at the Group's headquarters in Nottingham in the UK, the Company also has offices in France, Australia, and India, with a total global staff base of over 670.  

Microlise is listed on the AIM market of the London Stock Exchange (AIM: SAAS) and qualifies for the London Stock Exchange's Green Economy Mark.

 

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