STOCKHOLM, Feb. 28, 2023
INVISIO Awarded an Entire Army Contract and Receives the First Order Worth Approximately SEK 40 Million
NEWS PROVIDED BY INVISIO AB
INVISIO has been down selected and awarded an entire Army contract from a new customer - a European Non-NATO Army. The initial order is worth approximately SEK 40 million for INVISIO. It encompasses the INVISIO advanced and AI powered systems for communication and hearing protection in challenging environments. Deliveries are expected to take place in 2023.
After having thoroughly tested and evaluated INVISIO's communications and hearing protection systems for a significant amount of time, in a standard competitive situation and setup with other solutions the European Non-NATO Army ended up choosing INVISIO.
The contract is significant in that it probably heralds the start of a long-term customer relationship lasting several years. INVISIO estimates that there is good potential for further contracts and follow-on orders.
INVISIO has been also recently selected as supplier for major parts of the countries Special Military Forces. The fact that the regular army and special forces use the same communication system allows for seamless interaction, collaboration and solution sharing capabilities, as well as tactical advantages giving all operatives unified and state-of-the art features and functionality.
"We are proud that yet another European defense organization has chosen INVISIO. This and other recently won contracts are clear signs that activity levels in the market are high. The immediate future is therefore looking really exciting, and it is now time to start reaping the benefits of our recent years' significant investments in the product portfolio and organization," says Lars Højgård Hansen, CEO at INVISIO.
The order revolves around the new INVISIO V-Series Gen II system with INVISIO X5 in-ear headsets, all together providing significant tactical benefits for the Army operative. As a part of the feature set, INVISIO's Artificial Intelligence ™ powered functionality encompasses a number of innovations, including automatic sound adaptation based on surrounding noise levels and advanced digital signal processing technology that filters away all unwanted noise while increasing speech intelligibility in difficult environments.
The solution also enables enhanced tailoring and customization of mission-specific requirements, also catering for individual preferences that in combination help to focus solely on tasks at hand.
For further information, please contact:
Lars Højgård Hansen, CEO, INVISIO
Mobile: +45 5372 7722 | Email: lhh@invisio.com
Michael Peterson, Director Investor Relations & Corporate Communication, INVISIO
Mobile: +45 5372 7733 | email: mpn@invisio.com
This information is information that INVISIO AB (publ) is obliged to disclose under the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the President/CEO, on February 28, 2023, at 12:00 CET.
About INVISIO AB (publ)
INVISIO develops and sells advanced communication systems that enable professionals in noisy and mission critical environments to communicate, protect their hearing and work effectively. The company combines specialist knowledge in acoustics and hearing with broad engineering know-how including in software, materials technology and integration. The company's solutions are marketed under the two brands INVISIO and Racal Acoustics. Sales are via the headquarters in Copenhagen and sales offices in the USA, France, the United Kingdom, Italy and Thailand and via a global network of partners. INVISIO's registered office is in Stockholm and the company is listed on Nasdaq Stockholm (IVSO). Additional information is available on the company's website www.invisio.com.
SOURCE INVISIO AB