Neonode Signs First License Agreement for Touch Sensor Module (“TSM”) Technology
STOCKHOLM, SWEDEN, May 22, 2024 — Neonode Inc. (NASDAQ: NEON) is pleased to announce the first license agreement for its Touch Sensor Module (“TSM”) technology following the decision in December 2023 to transform its TSM business to a licensing business model. YesAR has selected the Neonode TSM technology for the development and manufacturing of holographic infotainment solutions. The agreement includes an upfront technology access fee and future royalties.
To further strengthen its offering, YesAR, a Chinese pioneer in the development of holographic display technology and a provider of a new generation of intelligent display and interactive systems, will license the Neonode Touch Sensor Module technology to develop and build holographic infotainment solutions for its customers in the automotive and elevator sectors, as well as in other market segments.
“We are excited to see momentum for our TSM technology as we are transforming from a product business to a technology licensing business. Our license agreement with YesAR ensures that our TSM technology remains a cornerstone technology in the growing market of holographic interfaces and is a testament to our continuing commitment to technological leadership and innovation through licensing,” Fredrik Nihlén, Neonode’s interim President and CEO and CFO, said.
“We have worked together with YesAR since 2020 and are encouraged by their steadfast belief in the market potential for Neonode TSM-based holographic solutions, now as a technology licensee. We look forward to further enhancing our close relationship with YesAR as they license our technology and look forward to seeing the innovative solutions that our technology platform will enable for YesAR and its customers,” Johan Swartz, Neonode’s Vice President Marketing & Sales, said.
Neonode’s patented TSM technology utilizes Neonode’s revolutionary zForce® optical sensing technology platform to detect touch input or objects across an invisible infrared projected plane. Leveraging Neonode’s state-of-the-art zForce infrared technology, the Touch Sensor Module solution delivers incredible touch accuracy in any application that requires touch input, including contactless touch interaction in midair with projected holographic images as well as rugged touch on surfaces and displays. Easily integrated using a single-sided Touch Sensor Module sensor or a full-frame zForce implementation, Neonode’s licensable touch interaction technology platforms deliver exceptional performance and value to any touch-operated application.
For more information, please contact:
Interim President and Chief Executive Officer and Chief Financial Officer
Fredrik Nihlén
E-mail: fredrik.nihlen@neonode.com
Phone: +46 703 97 21 09
Vice President Marketing & Sales
Johan Swartz
E-mail: johan.swartz@neonode.com
Phone: +46 707 64 35 44
About Neonode
Neonode Inc. (NASDAQ:NEON) is a publicly traded company, headquartered in Stockholm, Sweden and established in 2001. The Company provides advanced optical sensing solutions for contactless touch, touch, gesture control, and in-cabin monitoring. Building on experience acquired during years of advanced research and development and technology licensing, Neonode’s technology is currently deployed in more than 90 million products, and the Company holds more than 100 patents worldwide. Neonode’s customer base includes some of the world’s best-known Fortune 500 companies in the consumer electronics, office equipment, automotive, elevator, and self-service kiosk markets.
NEONODE and the NEONODE logo are trademarks of Neonode Inc. registered in the United States and other countries.
For further information please visit www.neonode.com
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Safe Harbor Statement
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 our expectations for growth and the growing demand for our products, future performance or future events and the anticipated revenue to be generated from our license with YesAR. 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 include risks related to our reliance on the ability of our customers to design, manufacture and sell their products with our touch technology, the length of a customer’s product development cycle, our dependence and our customers’ dependence on suppliers, the COVID-19 pandemic, the global economy generally and other risks discussed under “Risk Factors” and elsewhere in Neonode’s public filings with the SEC from time to time, including Neonode’s annual reports 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.
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