Gothenburg, 27 October 2024: Gapwaves, the world leader in innovative waveguide technology, and Valeo, the French world leader in ADAS systems, have signed an agreement on the development and large-scale series production of waveguide radar antennas for ADAS applications. The contract has an expected sales value of double-digit MEUR in the mid-range of approximately 10 years, starting in 2025.

Valeo offers a complete portfolio of Advanced Driver Assistance Systems (ADAS) to the market and continues to develop new technologies to offer drivers greater safety and comfort, and has been developing and mass producing radar technologies since 2006. In the joint development, Gapwaves supports Valeo with antenna technology, engineering and manufacturing capabilities. Following successful development, Gapwaves will produce and supply automotive radar antennas in serial volumes to Valeo from 2025. NRE services and associated revenue to achieve Start of Production (SOP) in 2025 are also part of the agreement.

To offer new functions that will provide greater comfort and safety, vehicles need to be equipped with sensors that detect and analyze their environment. Since the market for radar sensors with high-performance waveguide antennas is expected to grow strongly in the coming years, Valeo, in particular the Valeo Brain Division and Gapwaves, have been collaborating since the beginning of 2023. A new antenna development technology (MLW) using Gapwaves’ proprietary Multilayer Waveguide provides cost-effective radar with significantly increased performance. With this partnership, Valeo and Gapwaves will allow car manufacturers to significantly improve and expand their ADAS, especially radar-based functions such as blind spot detection, front or rear cross-traffic alert systems.

Marc Vrecko, CEO and Group Executive Vice President of Valeo Brain, explains “The automobile industry is in the midst of the most significant transformation in its history, with cars becoming more autonomous and more connected. At Valeo, we offer the broadest portfolio of sensors, as well as computing units and software, to offer drivers greater comfort and safety. Offering radars with higher performance and reliability “This is a great example of Valeo’s technological leadership in ADAS and its ability to deliver innovative technologies at scale.”

Gapwaves CEO Jonas Ehinger says: “I am delighted to announce our long-term partnership with Valeo, the world leader in ADAS sensors. Our partnership started in early 2023 and this agreement is the result of nearly two years of close cooperation and development. Even more important stage: SOP and high-volume deliveries Another like Valeo “Securing the leading partner underlines the value of Gapwaves’ antenna technology in the development for ADAS and advanced automated driving. This is also further proof of Gapwaves’ trusted position. We are a partner of the Automotive industry, known for its extremely high standards and requirements.”

For more information, please visit the company’s website www.gapwaves.com or contact:
Jonas Ehinger, CEO
Phone number: +46 733 44 01 52
Email: [email protected]

Robert Berhof, CFO
Phone number: +46 706 00 59 07
Email: [email protected]

Gapwaves Certified Consultant is G&W Fondkommission
www.gwkapital.se

About Gapwaves AB (publishing)
Gapwaves grew out of research conducted at Chalmers University of Technology and was founded in 2011. Gapwaves’ vision is to be the most innovative provider of mm-wave antenna systems and the partner of choice for those pioneering the next generation of wireless technology for a safer and more sustainable society. Leveraging disruptive Gapwaves technology, we help telecommunications and automotive pioneers create high-efficiency mm-wave antenna systems that contribute to redefining everyday life. for example?mmWave?in the automotive and?telecom industries.??
Gapwaves?share (GAPW B) is traded on Nasdaq First North Stockholm as a?G&W?Fondkommission?Certified Advisor.?

About Valeo
Valeo, a technology company and partner of all car manufacturers and new mobility players, innovates to make mobility cleaner, safer and smarter. Valeo has technological and industrial leadership in electrification, driver assistance systems, interior experience re-creation and lighting everywhere. These four areas, vital for the transformation of mobility, are the Group’s growth drivers.
Valeo in numbers: 22 billion euros in sales in 2023 | 109,600 employees, 28 countries, 159 factories, 64 research and development centers and 19 distribution platforms as of June 30, 2024.
Valeo is listed on the Paris Stock Exchange.

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This is information that Gapwaves is obliged to make public under the EU Market Abuse Regulation. The information has been submitted for publication on 2024-10-27 16:01 CET through the contact persons listed above.