This is an exciting development for CarteNav and we look forward to working closely with GE to leverage their significant intellectual property and expertise to bring ground-changing new capabilities to our marketplace
Halifax, Nova Scotia (PRWEB) November 25, 2016
Today CarteNav Solutions Inc. announced the signing of a long-term technology transfer and licensing agreement with GE Ventures. Under the agreement, GE shall transfer and license proprietary computer vision and video analytics technology.
CarteNav will undertake commercialization of GE’s technology within its global marketplace of defence, security, and commercial clients. CarteNav provides situational awareness and intelligence, surveillance, and reconnaissance (“ISR”) solutions to government and non-government customers in more than 30 countries around the world. GE’s video analytical technology will provide identification, classification, and tracking capabilities that will assist users of CarteNav’s software for a variety of special mission applications.
"This technology is very relevant to our end customers who undertake complex and critical missions including surveillance, reconnaissance, law enforcement, search and rescue, disaster response, infrastructure inspection, and resource protection,” said Paul Evans, CarteNav’s President. "The technology that will be commercialized is very complementary to CarteNav's core product as well as to the products and technology of numerous industry partners we work with today. This is an exciting development for CarteNav and we look forward to working closely with GE to leverage their significant intellectual property and expertise to bring ground-changing new capabilities to our marketplace."
“Built upon decades of R&D, GE is enabling its video analytics platform to be commercialized widely,” said Mike Petracci, Managing Director - Licensing at GE Ventures. “GE is engaging partners in multiple industries and is excited to work with CarteNav to extend this technology to their customer base.”
An important part of bringing this collaboration about was the involvement of the Province of Nova Scotia’s Department of Business who is working with GE Canada to support innovation based partnerships between GE and Nova Scotia Companies. The Government of Nova Scotia’s Minister of Business, Mark Furey, along with GE and CarteNav announced the partnership on September 22nd, 2016 as well as financial support from the government at the Innovacorp Enterprise Centre in Halifax, Nova Scotia.
About CarteNav Solutions Inc.
CarteNav Solutions Inc. is an international leader in mission management and sensor management software solutions for airborne, land, and maritime environments. CarteNav offers operationally proven software that dramatically improves the performance of both sensor operators and tactical decision makers. The company has established a reputation for providing sought-after and high-value software solutions that can be deployed on a wide variety of platforms. The solutions supporting multiple mission types for a diverse client base that includes government, military, and commercial customers. CarteNav is a wholly-owned subsidiary of Provincial Aerospace Ltd. and part of the Exchange Income Corporation (EIC) group of companies.