2021-11-08 07:07:15
Oslo, November 8, 2021 CondAlign AS signs a Concept Phase Agreement (CPA) with a global manufacturer of displays for upgrading their display system by integrating CondAlign technology. The companies intend to sign a license agreement during the term of the CPA.
“This agreement shows that large global players acknowledge the great potential of our technology. Securing the agreement with this tier-1 global technology leader is an important and planned step in the implementation of CondAligns strategy to secure license revenues in multiple markets”, says CEO Bjørn Maarud in CondAlign.
-Performed comprehensive testing
The partner has during 2020 and 2021 performed internal testing on materials from CondAlign. Following positive results, the partner has decided to initiate a comprehensive project to integrate CondAlign technology into their display system.
-Partnering to commercialize product
The CPA covers all phases up to and including industrialization and commercialization of final products. Product design will conclude in June 2022, whereafter industrialization, commercialization and license negotiations will commence.
As part of the project, the partner will immediately install a CondAlign Remote Station at one of their facilities. The CondAlign Remote Station allows customers to reduce their development time significantly when integrating the CondAlign technology. The installation of remote stations further allows CondAlign to increase the number of customer engagements in parallel.
CondAlign will receive payment for Remote Station rental, product design services and engineering.
-Improving performance of displays
“With this project our partner is targeting an important upgrade to their display technology. Implementing CondAlign technology will improve product performance and robustness, enabling the partner to strengthen its market position.”, says CTO Henrik Hemmen.
For further information, please contact:
Bjørn Maarud
CEO
bjorn.maarud@condalign.no
Phone: +47 900 20 724
About CondAlign
CondAlign is a Norwegian technology company developing conductive films for highly efficient directional conduction of electricity, heat and industrial gases. CondAligns patented technology enables the development of new break-through consumer products as well as industrial applications. The company has a license-based business model and targets high volume markets.