Advanced Braking Technology Ltd, a leading supplier of fail-safe brakes for commercial vehicles, has entered into a global distribution agreement with RaptorTech Pty Ltd, set to distribute, market and sell BrakeiQ, a cutting-edge auto braking system designed to integrate with Collision Avoidance Systems (CAS).
RaptorTech, founded in 2018, has a vision of providing all levels of industry with access to leading technology. It believe that technology should work on any brand machine with a high focus of interoperability that empowers owners and operators to achieve their business goals.
BrakeiQ is designed with consideration to ISO 21815-2 standards and EMESRT Level 9 intervention, ensuring seamless integration with existing CAS. Its versatile design allows application across various machine types, supporting compatibility with more than 30 Caterpillar wheel loader and dozer models as well as Komatsu models.
While the system is instantly compatible with Caterpillar and Komatsu models, it only requires 2-4 weeks to create, develop and deploy a BrakeiQ system for other global OEMs, according to ABT.
The agreement includes a provision for further development of the product to allow or enhance the product’s integration with any other system or vehicle.
Under the agreement, ABT has exclusive global distribution rights to distribute, market, promote and sell the product.
The initial term of the agreement is three years. In the last three months of the initial term the parties shall negotiate in good faith over the renewal of the Agreement for a further extended term of three years.
In addition to generating incremental revenue for ABT, the company is of the view that through this partnership, ABT is likely to gain additional market share and enter otherwise untapped markets, including open-pit mining and expansions into currently unserviced geographical regions in the near-to-medium term.
The agreement includes an initial purchase of inventory from RaptorTech, with approximately A$1.1 million ($735,407) in revenue from the first order. It includes customary key performance indicators based on volumes and service performance criteria. ABT will use available cash on hand to pay the initial purchase.
Andrew Booth, CEO of ABT, says: “ABT’s strategic innovation focus in the CAS space offers a significant growth opportunity via increasing applications as a leading safety OEM brand in the mining market. We are thrilled to partner with RaptorTech to bring our safety solutions to clients in Australia and globally.
“RaptorTech has a proven track record of providing top-tier safety technology and we’re confident that our partnership will provide ABT’s highly valued blue-chip customers with the best possible solutions and add further momentum towards ABT’s revenue expansion.”
