Olea Announces Joint Venture
Flat Earth and Olea Sensor Networks Collaborate for Industrial Truck Market
Reno, NV, May 17, 2016 – Olea announced today the formation of a joint venture with Flat Earth, Inc. of Bozeman, Montana for further development of their OleaVisionTM technology and to enable delivery of the next generation of collision avoidance and people detection technologies for the industrial truck market.
According to OSHA, forklift accidents, alone, are the cause of about 35,000 serious injuries a year, nearly 100 of which are fatal, and the industry is constantly and aggressively seeking technologies to mitigate these risks and save lives.
Olea Sensor Networks, as a proven leader in the development of advanced vital sign detection technologies, currently offers OleaVisionTM technology for collision avoidance and life presence detection for the automotive, industrial truck and security markets. OleaVision™ continuously scans the area, including blind spots, differentiates between animate and inanimate objects and alerts the operator of life forms that may be in imminent danger, giving the operator time to react. It is equally effective in limited visibility due to darkness or inclement weather. The next generation of OleaVision™ will further advance its range and sensitivity to life forms.
“The joint venture with Flat Earth is a win for both companies, which complement each other ideally,” said Frank Morese, President and CEO of Olea Sensor Networks. “Our OleaVisionTM technology, further enhanced by Flat Earth’s capabilities will allow for a significant impact in the Industrial IoT marketplace. This next generation of OleaVisionTM will also meet with worldwide regulatory requirements for indoor collision and life presence avoidance.”
Doug Roberts, CEO of Flat Earth, Inc, says that “the partnership with Olea Sensor Networks represents a perfect synergy between Flat Earth’s design and development capabilities and Olea’s vision to create revolutionary products for the Industrial Truck market. The complimentary capabilities of our two companies will produce substantial benefits for both companies and personnel in the Industrial Truck market. We couldn’t be more pleased with this joint venture.”
This next generation of OleaVisionTM technology is expected to be available by the late summer of 2016.
About Flat Earth
Flat Earth, Inc. develops applications for machine control, environmental and industrial monitoring, proximity sensing, medical, transportation, search and rescue, and other novel applications utilizing radar, GPS and information systems. Flat Earth is the official North American distributor and value added reseller of Novelda XeThru products. Additional information is available on our website at www.flatearthinc.com.