Starcom expands deal with Zero Motorbikes
announced on Monday that it has signed an updated contract to develop enhanced Helios units to integrate into a client’s motorbikes.
The AIM-listed firm revealed that its Helios tracking technology will be developed further to “create certain technology enhancements” to be integrated into Zero Motorbikes, a US manufacturer of electric motorbikes.
The companies announced in February 2019 the launch of a new range of electric motorbikes that uses the Helios monitoring system that allows Zero and the rider to track the motorcycle's condition in terms of various parameters, including range, battery utilisation and location.
The board of Starcom said the updated relationship with Zero Motorcycles demonstrated the increased collaboration between the two companies, as well as Zero Motorcycles’ commitment to using Starcom’s technology.
Shares in Starcom were trading 6.67% higher at 1.2p during Monday morning trading
Avi Hartmann, CEO of Starcom, commented, "This new SOW demonstrates the depth of integration we have achieved with Zero and the strategic nature of the relationship. We are also pleased to see Zero's confidence in increased demand for the units.
He added: "We believe that this is a significant milestone for Starcom and we are proud to be part of the electrical revolution in the transport market which we expect to lead to new customer relationships in the sector in due course."
Starcom said a new Statement of Work had been signed with Zero and that the enhancements will be supplied over the next three months.
The Helios units are intended to improve connectivity with the motorbikes, and allow Zero to centrally track and control more motorcycles as it scales up production.
Starcom said the number of motorcycles using its Helios units remains low, but that Zero has indicated that it anticipates a significant increase in demand for the motorcycles in 2020.
Starcom will be entitled to a small increase in the recurring SaaS revenues generated per connected motorcycle.
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