Gentherm Receives First Production Vehicle Award for its ClimateSense™ Technology
Gentherm(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.
NORTHVILLE, Mich., July 28, 2021 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ: THRM), a global market leader and developer of innovative thermal management technologies, today announced that the Company has received its first production vehicle award for its ClimateSenseTM technology on an all-new 2024 model year electric vehicle with a global automaker.
ClimateSense is Gentherm’s proprietary microclimate solution comprised of advanced thermal products, integrated electronics, embedded software and a revolutionary thermo-physiology based, human-centric approach.
“Our ClimateSense microclimate technology will help OEM customers achieve their electrification goals by increasing vehicle range and energy savings, while delivering a best-in-class personalized thermal experience,” said Phil Eyler, President and CEO of Gentherm. “We are excited about this first production award for ClimateSense and the potential our technology has to address the growing needs of the electric vehicle market.”
Designed, developed, and manufactured by the Company, ClimateSense technology seamlessly integrates into the existing vehicle architecture utilizing localized convective and conductive heating and cooling solutions, to create personalized comfort while significantly reducing HVAC energy consumption. Published studies show the technology can deliver between 50 to 69 percent energy savings in cold-weather testing and 34 percent energy savings in hot weather testing, when compared to only using the existing central HVAC system.
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About Gentherm
Gentherm (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.
Forward-Looking Statements
Except for historical information contained herein, statements in this 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 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 that: 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 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 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.
