Subi outfit strikes Honeywell deal

Shares in Strategic Elements surged up to 32 per cent today after the software company announced a 12-month deal with multinational conglomerate Honeywell to develop experimental autonomous robotic vehicles.

Stealth Technologies, a subsidiary of Subiaco-based Strategic Elements, will receive an initial payment of $100,000 from Honeywell as part of the agreement, with scope for additional payment if the parties pursue opportunities identified in their collaboration.

The company said it would utilise its stealth OS, an autonomous AI software, to develop the initial autonomous robotic vehicles.

Stealth managing director Charles Murphy said an enormous amount of effort had gone into the venture during the past 10 months, from conception to working with a Fortune 100 company such as Honeywell.

“The team has been working to finalise a number of opportunities and we look forward to potentially unveiling some highly innovative projects,” he said.

Honeywell delivers industry-specific solutions from aerospace to mining, and operates total asset and facility management.

Autonomous vehicles are becoming more prevalent in the mining industry.

Next month, Komatsu will deploy 41 automation-ready haul trucks at BHP’s South Flank iron ore project.

In May, Caterpillar secured a contract to supply 20 autonomous trucks at Rio Tinto’s Koodaideri iron ore project.

Shares in Strategic Element cooled off at 11.35am AEST to trade at 7.4 cents each, a 12.2 per cent rise on its previous closing price.