Cycliq appoints new technology chief

• Cycliq has appointed Rhys Campbell as its new fractional chief technology officer effective July 8.
• The company's stock price rose 25% following the executive announcement to close at $0.005.
• The appointment aims to drive the development of next-generation vision technology and expand capabilities using edge artificial intelligence.

Cycliq (ASX:CYQ) appointed engineering leader Rhys Campbell as its chief technology officer on July 8 to lead the development of its vision technology platforms using his more than 20 years of experience.

This technical transition follows a period where the company reported a net operating cash outflow of $626,000 for the quarter ending March.

"Rhys joins us at a pivotal moment, charged with developing the next generation of our vision technology and the platform behind it," said Cycliq Chair Andrew Chapman.

Under the fractional consulting agreement with JFSI, Campbell will receive monthly consulting fees of $5,000 under a contract that can be terminated by either party with 7 days of notice.

Following the announcement, the Cycliq share price was up at $0.005.

The company stated that it is laying foundations to expand its visual capabilities by leveraging BeEmotion's expertise in multi-modal applications on the extreme edge.

The business currently focuses on manufacturing light and camera safety equipment while implementing strict inventory controls to reduce operational costs.