Mercedes-Benz Innovator Joins Terranet as CTO and SVP Product Management

Lund, SWEDEN


Lund, Sweden – JUNE 17, 2021 Terranet AB (Terranet/the Company), (Nasdaq: TERRNT-B.ST) Today Terranet announced that Mercedes-Benz Head of Navigation & Maps, Nihat Küçük, will start as CTO and SVP Product Management for the fast growing VoxelFlow team in Lund and in Stuttgart, Germany.

Throughout his career, Mr. Küçük has worked at the forefront of the automotive space as it transitions into a software-driven industry, running two mobility startups and leading innovation efforts at Mercedes-Benz. Most recently as head of the unit that amongst other technologies, develops new sensor functionality for the navigation systems within the group. During his time at Mercedes-Benz, Mr. Küçük spearheaded collaborative efforts between VoxelFlow™'s sensor technology and Mercedes-Benz’s future mapping technology, the collaborative project was successfully showcased at Startup Autobahn earlier this year.

In recent weeks, Terranet has begun in vehicle field tests with VoxelFlow and in the coming year, the patented technology will be packaged for commercialization. Thus, the hire is an important strategic move for Terranet, which mobilizes heavy competence and capacity to rise in the value chain and drive both product and market launches.

“The fact that Terranet successfully secured a collaboration with Mercedes-Benz at such an early stage has been extremely important in guiding the development of VoxelFlow in both a customer- and product centered direction. We have been working with Nihat and his team for almost two years. Through this recruitment, which can almost be compared to a strategic deal, the company gains access to Nihat's entire capacity and network. We are not only provided with a unique product expertise but an exceptional insight from one of the most well-known innovation managers in the global automotive industry, in both software and sensor development.” states Terranet's CEO Pär-Olof Johannesson. “We look forward to continuing to build on the core technology under Nihat's leadership. His many years of experience in building teams, identifying and hand-picking winners, experience and knowledge of the automotive industry is a game-changer for Terranet”

In the role of CTO and SVP Product Management, Nihat Küçük will secure VoxelFlow technology in the next steps towards commercialization and product launch, in close dialogue with the Terranet partner holoride in Munich. Furthermore, he will continue to establish the development team in Lund and in Stuttgart. The company further consolidates its presence in Germany and Stuttgart.

“The vehicles of the future need to make decisions faster than ever before in order for us to realize the zero vision and save lives in traffic. I have been able to follow Terranet's VoxelFlow technology for a long time and consider it to have great potential to, faster than any other sensor technology, secure the infrastructure we need to be able to avoid collisions to a much greater extent. I look forward to start working with a unique technical platform that has the potential to turn the automotive industry upside down. ” says Nihat Küçük. 

Mr. Küçük’s addition is the latest high growth milestone for Terranet. In addition to its Mercedes-Benz partnership, Terranet recently announced a collaboration with SXSW winners holoride, while also leading the hot startups Series A round. holoride is building the world’s first immersive in-vehicle media platform, and will work with Terranet to enhance its real-time, in-car XR (extended reality) experience by incorporating aspects of Terranet’s versatile sensor tech software that ensures precision, speed, and intelligence as vehicles move safely and quickly through their environments. The cooperation between the two respected category leaders opens a new vertical for Terranet’s by reusing 3D event data for XR applications, like augmented reality (AR) and virtual reality (VR).

Terranet is developing a patented sensor technology called VoxelFlow that can identify an object in an area around the vehicle in around five milliseconds. It can be compared to today's sensor system which gives the vehicle around 300-500 milliseconds to react, the technology gives the driver or vehicle a significantly improved opportunity to save lives. Watch a video about the technology here.

On Wednesday 23rd of June at 12.00-1.00 PM CET, Terranet invites to a live investors meeting together with the CEO Pär-Olof Johanesson via Zoom. Link to the event here.

About Terranet
Terranet develops patented software for radio-based solutions and three-dimensional image analysis for advanced driver-assistance systems and autonomous vehicles (ADAS and AV). In-line with Scandinavia’s rich history of bringing innovative safety measures to the automobile industry, Terranet is pioneering breakthrough safety technology for the ADAS and AV industries as showcased at Startup Autobahn. Terranet is headquarters in Lund, Sweden and its development sites in Kiev, Ukraine and in Stuttgart, Germany. Terranet Holding AB (publ) is listed on the Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B.ST). https://terranet.se/en 

Marketing Contact
Michaela Berglund – VP Marketing
michaela.berglund@terranet.se
+46 723 388 288

Media Contact
Sam Aurilia
FischTank PR
terranet@fischtankpr.com

www.terranet.se

Appointed Certified Adviser to TerraNet Holding AB is Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se