Advanced Braking Technology (ASX:ABV) has signed an exclusive global distribution agreement with RaptorTech Pty Ltd. This agreement grants ABT the rights to distribute, market, and sell BrakeiQ, an advanced auto braking system. The partnership aims to expand ABT's market presence into new sectors and enhance its geographical reach.
Advanced Braking Technology's new agreement with RaptorTech involves distributing BrakeiQ, a system compatible with Collision Avoidance Systems. This partnership is expected to enhance ABT's entry into untapped markets such as open cut mining and expand its geographical footprint. With the exclusive global rights, ABT will market BrakeiQ under its own brand name. The agreement, initially for three years, includes provisions for further product development and revenue generation, with an anticipated initial revenue of $1.1 million from inventory purchases. ABT is strategically focusing on innovation in the CAS space, aiming to strengthen its position as a safety OEM brand in the mining market.
The collaboration with RaptorTech provides ABT with a significant opportunity to offer advanced safety solutions to our blue-chip customers while also supporting our revenue expansion goals.