Vection wins $1.2m Digital Twin Project

Key points

• $1.2m PNRR grant awarded to Vection to lead a five-partner project
• Consortium includes JMC Group, Vection Italy, Mindesk, The Digital Box and Nature Med
• Project ADDICTA delivers the first in-line quality digital twin for liquorice, beer and pasta

Full summary

Vection Technologies Ltd (ASX:VR1, OTC:VCTNY), the INTEGRATEDXRï¸ company, has been selected to supply the extended-reality (XR) and artificial intelligence (AI) backbone for Project ADDICTA, a $1.2 million research programme funded by Italy's National Recovery and Resilience Plan (PNRR). The consortium includes JMC Group (lead), Vection Italy, Mindesk, The Digital Box and Nature Med. Vection's INTEGRATEDXRï¸ stack converts raw sensor data into real-time visual and conversational insights without third-party code, locking in proprietary data and compounding IP that rivals can't replicate. The eight-month project will deliver the first in-line quality digital twin for liquorice, beer and pasta, flagging contaminants and colour in real-time. The grant proceeds will be split 62% between Vection Group entities and 38% between Nature Med, with 20% of the project value to be recognised as revenue in FY25. The grant fully covers Vection's costs, delivering new IP and a high-profile reference site at zero cash outlay.

Guidance

About 20% of the $1.2 million project value will be billed and recognised as revenue in fiscal year 2025, with the remainder accruing until December 2025 as milestones are reached.