- Vection Technologies (VR1) has struck a deal with the Italian government for virtual reality and augmented reality (VR and AR) remote train maintenance
- The company has signed a memorandum of understanding MoU with Trenitalia, which is a subsidiary of government-owned Ferrovie Dello Stato Italiane
- Trenitalia is the main train operator in Italy and raked in almost €5.4 billion (around A$8.7 billion) in revenue in 2018
- Under today’s deal, Vection will develop a remote maintenance solution based on its Trainer Creator software, which launched in June
- The company says today’s deal is material but did not give any insight as to what sort of revenue might come from a deal of this nature
- Still, shares in Vection are up almost 14 percent and trading at 12 cents each this afternoon
- Advertisement -
