Vection Technologies (ASX:VR1) entered into a three-year partnership valued at AU$484,000 to AU$575,000 with Italian insurer Assicurazioni Generali, according to a Wednesday Australian bourse filing.
The project will focus on two main areas, a custom extended reality offering for client awareness using Apple's Apple Vision Pro to create safety scenarios as well as a training platform developed within Vection's 3DFrame and EnWorks ecosystem.
The contract's total value will depend on user adoption and additional upselling opportunities, such as custom developments and hardware integrations.
Vection Technologies' shares rose past 3% in recent Wednesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.