Gentex Announces Investment and Collaboration Agreement With ADASKY
01 Maio 2023 - 9:00AM
Gentex Corporation (NASDAQ: GNTX), a leading supplier of
digital vision, connected car, dimmable glass, and fire protection
technologies, today announced that it has closed an agreement with
ADASKY as the lead investor in a Series B round of financing and
has also established a commercial, engineering, and manufacturing
collaboration agreement to help bring ADASKY’s proprietary
technology to market.
The investment round of financing and the collaboration
agreement with Gentex will help secure the transition of ADASKY
from an early growth company to a global leader in automotive
thermal sensing. ADASKY’s proprietary LWIR (Long Wave Infrared)
sensors are becoming well-known in the industry for their
market-leading performance based on their superior
size-to-performance ratio, solid state technology, high
reliability, and “shutterless” constant operation design. As
advanced sensing systems create the path for passenger and
pedestrian safety, thermal sensing will fill the existing gaps in
that technology so that ADAS and vision-based systems can operate
more reliably in low light and in all-weather situations.
“After several years of investigation, research, and dialogue
with the ADASKY team, we became very convinced that now was the
time for Gentex to help accelerate the technology’s growth and
development curve as well as the commercialization of the ADASKY
technology. Over the last few years, we have been investing heavily
into our sensing capabilities and the ADASKY technology was a great
fit to complement our existing suite of sensing products,” said
Gentex President and CEO, Steve Downing. “However, the last piece
of the analysis always comes down to ‘fit’ between organizations,
especially when it comes to collaboration agreements, and I am
personally very excited about the cultural similarities of our
organizations and our ability to work together as a team,”
concluded Downing.
“Gentex is exactly the right strategic partner for ADASKY to
complement our existing shareholders. We have the same
excellence-driven engineering and innovation focus that will help
propel us to expand markets and applications. With Gentex’s global
footprint and capability, we will be able to meet the demand we are
seeing for our thermal camera,” said ADASKY CEO, Yakov Shaharabani.
“We are thrilled to explore new opportunities with Gentex in the
automotive market and in other industries and verticals. ADASKY and
Gentex share the same spirit of addressing extreme challenges with
determination and innovation,” concluded Shaharabani.
About ADASKYADASKY develops and manufactures
intelligent, high-resolution thermal sensing systems (LWIR) for
vehicle safety and perception applications and smart city roadway
solutions. Thermal vision systems can see at night the same as
during daylight and are not limited by blinding lights or harsh
weather conditions, filling gaps in existing sensor suites. Visit
ADASKY’s website at http://www.adasky.com.
About GentexFounded in 1974, Gentex Corporation
(The NASDAQ Global Select Market: GNTX) is a leading supplier of
digital vision, connected car, dimmable glass, and fire protection
technologies. Visit the Company’s web site at www.gentex.com.
Contact
Information: |
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Gentex Investor ContactJosh
O'Berski(616)772-1590 x5814josh.oberski@gentex.com |
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Gentex Media ContactCraig Piersma(616)
772-1590 x4316craig.piersma@gentex.com |
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ADASKY Media ContactRaz
Peleg+972-503314142raz.peleg@adasky.com |
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Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/094bc741-6a2a-409b-b46c-2e394ff8a6b4
https://www.globenewswire.com/NewsRoom/AttachmentNg/2dbb1a32-c641-4496-b73f-ac5c6fbc9be2
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