Advanced Braking Technology (ABT) has partnered with Glencore Australia to develop a heavy vehicle Sealed Integrated Braking System (SIBS) for the Volvo FMX Haul Truck.
The new braking system will leverage the Failsafe brake for light commercial vehicles, which has been used extensively within both the Australian and global mining sectors over many years.
Development of the joint product is expected to cost approximately $2.8 million over a term of 12 months, depending on the successful completion by ABT of the project and development milestones.
Upon the development, testing, and validation of the SIBS, Glencore expects to deploy the system across its fleet of Volvo FMX Trucks globally.
Glencore has been granted an exclusivity period and certain rights to priority supply as the company is contributing to the development of the product, ABT said in an ASX announcement.
Under the agreement, ABT will handle the development, manufacturing, production, and installation of the prototype units for validation and testing in Glencore mining operations.
After the successful validation and subsequent period of exclusivity, ABT will commercially launch the product to the global market.
Andrew Booth, chief executive of ABT, said the agreement is part of the company’s strategy to diversify its SIBS vehicle-type applications.
“We are very proud at ABT to be working with Glencore to deliver a world-class Heavy Vehicle Brake solution designed for heavy ruggedised industrial applications. The signing of this contract marks a key milestone in the Company’s development and future strategy,” Booth said.
