Neonode Signs Supply Contract With US-Based Automotive OEM
October 14 2016 - 7:55AM
Neonode Inc. (NASDAQ:NEON), the Optical Interactive Sensing
Technology Company, has signed a contract to supply its zForce AIR™
sensor modules to a US-based automotive OEM for vehicle entry
systems, adding to Neonode’s list of automotive customers, who have
already shipped over 1 million cars -- in over 30 different car
models -- with zForce® technology. The value of the contract
exceeds USD11M over its term starting in Q3, 2017.
zForce AIR technology, the technology that powers the AirBar™
device that brings displays to life by adding touch and gesture
sensing to both new and existing PCs, can also be adapted to fit
the most diverse automotive applications.
The automotive industry is currently reinventing itself, going
through some of the biggest changes in its history. This increases
the demand for innovative and cost effective sensor solutions and
applications. zForce AIR sensors are thin, modular strips inserted
along only one edge of a detection area, making integration easy
for this wave of creative innovation. zForce AIR sensors bring the
most advanced sensor technology to automotive OEMs with the quality
and reliability that the auto industry requires, and that our
customers, including Alpine, Bosch and Volvo, to name a few, have
come to expect from Neonode.
The robust zForce AIR sensor is suitable for multiple
deployments within one vehicle, including infotainment systems,
entry systems, interactive steering wheels, as well as any surface
inside or outside the vehicle to which an auto manufacturer wants
to add touch or proximity sensing functionality. We expect to see
multiple opportunities for deploying zForce AIR sensors in cars in
the very near future, and in self-driving cars. To this end,
Neonode is in the process of obtaining automotive-class
certification for its zForce AIR module production facility in
Sweden.
“We are extremely pleased to have our new sensors leading the
way for entry systems in the automotive industry. We see this new
supply contract as further evidence that Neonode will be a solid
force in the automotive segment,” said Gunnar Fröjdh, VP Automotive
Sales.
“The automotive industry represents large potential long term
growth and stability in our global expansion plans. Neonode’s
zForce technology is already installed in over 1 million cars today
and its reliability and performance are proven in the industry,”
concluded Thomas Eriksson, Neonode CEO.
About Neonode
Neonode Inc. (NASDAQ:NEON) develops and licenses optical
interactive sensing technologies. Neonode’s patented optical
interactive sensing technology is developed for a wide range of
devices like automotive systems, printers, PC devices,
monitors, mobile phones, tablets and e-readers. NEONODE and
ZFORCE are trademarks of Neonode Inc. registered in the United
States and other countries. ZFORCE AIR and AIRBAR are trademarks of
Neonode Inc. All other trademarks are the property of their
respective owners.
For more information please
visit www.neonode.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These include, but are not limited to, statements relating to
expectations, future performance or future events, and product
cost, performance, and functionality matters. These statements are
based on current assumptions, expectations and information
available to Neonode management and involve a number of known and
unknown risks, uncertainties and other factors that may cause
Neonode’s actual results, levels of activity, performance or
achievements to be materially different from any expressed or
implied by these forward-looking statements.
These risks, uncertainties, and factors are discussed under
“Risk Factors” and elsewhere in Neonode’s public filings with the
U.S. Securities and Exchange Commission from time to time,
including Neonode’s annual report on Form 10-K, quarterly reports
on Form 10-Q, and current reports on Form 8-K. You are advised to
carefully consider these various risks, uncertainties and other
factors. Although Neonode management believes that the
forward-looking statements contained in this press release are
reasonable, it can give no assurance that its expectations will be
fulfilled. Forward-looking statements are made as of today’s date,
and Neonode undertakes no duty to update or revise them.
© Copyright Neonode Inc. 2001 – 2016. All rights
reserved.
For more information:
Automotive Sales Contact:
Gunnar Frojdh, E-mail: gunnar.frojdh@neonode.com
Investor Relations Contact:
David Brunton, E-mail: david.brunton@neonode.com
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