Gentherm Invests in Electric Sensor Technology Company Forciot
September 02 2021 - 8:00AM
Gentherm (NASDAQ: THRM), a global market leader and developer
of innovative thermal management technologies, announced that it
has invested in Forciot, a Finnish-based technology developer of
sensors for touch, motion and force measurement.
The technology being developed by Forciot has the potential to
be integrated into vehicle interiors, including into steering
wheels for Hands on Detection (HOD) functionality for Advanced
Driver Assistance Systems (ADAS). Forciot’s innovative stretchable
and printed sensors and advanced electronics are targeted to help
accurately measure touch, motion and force. Forciot’s sensors may
be used to sense an occupant’s presence and potentially to replace
buttons and other Human-Machine Interfaces (HMI) within vehicle
interiors.
“The automotive industry is changing extremely fast, and we see
potential opportunities with Forciot’s stretchable electronics and
sensor technology to address the challenges that our customers are
facing today and in the future,” said Phil Eyler, President and CEO
of Gentherm. “Our investment in Forciot provides us an opportunity
to expand our Automotive and Electronics solutions and help improve
vehicle safety and passenger comfort.”
“We are very excited to cooperate with Gentherm, who
passionately drives innovation and advanced functionality to their
future solutions. This cooperation and investment enables us to
scale up Forciot operations further to prepare for the mass volume
phase and supports our global business and technology development
growth plans as well,” said Tytti Julkunen, Forciot Chairman of the
Board.
Gentherm Investor ContactYijing
Brentanoinvestors@gentherm.com 248.308.1702
Gentherm Media ContactMelissa
Fischermedia@gentherm.com 248.289.9702
Forciot Media ContactTytti
Julkunentytti.julkunen@forciot.com + 358 504877357
About GenthermGentherm (NASDAQ:THRM)
is a global developer and marketer of innovative thermal management
technologies for a broad range of heating and cooling and
temperature control applications. Automotive products include
variable temperature Climate Control Seats, heated automotive
interior systems (including heated seats, steering wheels, armrests
and other components), battery performance solutions, cable systems
and other electronic devices. Medical products include patient
temperature management systems. The Company is also developing a
number of new technologies and products that will help enable
improvements to existing products and to create new product
applications for existing and new markets. Gentherm has
more than 11,000 employees in facilities in the United States,
Germany, Canada, China, Hungary, Japan, Korea, North Macedonia,
Malta, Mexico, United Kingdom, Ukraine,
and Vietnam. For more information, go
to www.gentherm.com.
About ForciotForciot is a fast-paced,
award-winning scaleup company established in December 2015. The
company drives cutting-edge IoT-sensor solutions to enable
customers to transform their products, to sense and interact with
the changing world in extraordinary new and sustainable ways to
conquer growing markets. Forciot is leading the new era of
electronics with its stretchable force sensor technology. The
Forciot technology works on and with several surface materials,
which means it can be integrated into various products and
equipment of different size and shape. In addition, it can be used
on both rigid and soft surfaces and unlike many competing
solutions, it reacts to and measures a broad variety of parameters
such as force, weight, load, balance, pressure, and touch
accurately and in real time.
Forciot’s key market focus areas are the automotive and
logistics sectors. Additionally, Forciot technology can be used for
an incredibly broad variety of purposes in different areas of life,
such as consumer electronics, wearables, healthcare, aviation,
retail – and much more. For more information, go to
http://www.forciot.com.
Forward-Looking Statements Except for
historical information contained herein, statements in this press
release are forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
represent Gentherm Incorporated's goals, beliefs, plans and
expectations about its prospects for the future and other future
events. The forward-looking statements included in this press
release are made as of the date hereof or as of the date specified
herein and are based on management’s reasonable expectations and
beliefs. Such statements are subject to a number
of important assumptions, risks, uncertainties and other
factors that may cause actual results or performance to differ
materially from that described in or indicated by the
forward-looking statements. Those risks include, but are not
limited to, risks related to: market acceptance of the Company’s
existing or new products, and new or improved competing products
developed by competitors with greater resources; shifting customer
preferences, including due to the evolving use of automobiles and
technology; the electric vehicle market and the alignment of the
Company’s product portfolio with long-term technological trends;
and the feasibility of Company’s development of new products on a
timely, cost effective basis, or at all. The foregoing risks should
be read in conjunction with the Company's filings with the
Securities and Exchange Commission (the “SEC”), including “Risk
Factors”, in its most recent Annual Report on Form 10-K
and subsequent SEC filings, for a discussion of these and
other risks and uncertainties. In addition, the business outlook
discussed in this press release does not include the potential
impact of any business combinations, acquisitions,
divestitures, strategic investments and other significant
transactions that may be completed after the date hereof, each of
which may present material risks to the Company’s
future business and financial results. Except as required by
law, the Company expressly disclaims any obligation or undertaking
to update any forward-looking statements to reflect any change
in its expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
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