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Correction: Elliptic Labs Signs New Contract with a New Leading PC/Laptop Customer

June 16, 2023 | All MFN (en), MFN IR (en), News And Events (en)

Included reference to MAR & NSTA – Market Abuse Regulation and Norwegian Securities Trading Act

Oslo, Norway — Elliptic Labs (OSE: ELABS), a global AI software company and the world leader in AI Virtual Smart Sensors™ currently deployed in over 500 million devices today, has onboarded its fourth PC/laptop customer, one of the top six PC/laptop companies globally. This agreement empowers this new PC/laptop customer to utilize Elliptic Labs’ AI Virtual Smart Sensor Platform™ for future laptop and PC systems. This PC/laptop maker has chosen Elliptic Labs’ AI Virtual Human Presence Sensor™ to bring 100% software-only human presence detection capabilities to these future PC and laptop products.
 
“Signing on a new PC customer, one of the top six PC/laptop maker, demonstrates that our mission to make devices greener, smarter, and more human friendly with our 100% software-only AI Virtual Smart Sensor Platform is truly resonating in the PC industry,” said Laila Danielsen, CEO of Elliptic Labs. “We now have four leading PC OEMs as customers, leading Elliptic Labs to become the de-facto platform enabling PC OEMs to improve security, privacy, power-consumption, and frictionless user experiences.

Elliptic Labs' AI Virtual Human Presence Sensor
Elliptic Labs’ AI Virtual Human Presence Sensor detects when a user is present in front of a PC/laptop system. This allows the device to sleep when a user is absent, conserving battery life and electricity and safeguarding it from unpermitted access. Human presence detection is becoming a core capability in the PC/laptop industry, but it is currently featured only in high-end devices due to the cost, risk, and design limitations associated with a dedicated hardware presence sensor. Elliptic Labs' software-only AI Virtual Human Presence Sensor delivers robust human-presence detection that allows OEMs to easily and affordably incorporate human presence detection across a wide range of devices.  

Contacts
Investor Relations: 
Lars Holmøy
[email protected]

PR Contact:
Patrick Tsui
[email protected]

About Elliptic Labs
Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. Founded in 2006 as a research spin-off from Norway’s Oslo University, the company’s patented software uses AI, ultrasound, and sensor-fusion to create AI Virtual Smart Sensors that deliver intuitive 3D gesture-, proximity-, presence-, breathing-, and heartbeat -detection experiences. Its scalable AI Virtual Smart Sensor Platform™ creates software-only sensors that are sustainable, human-friendly, and already deployed in hundreds of millions of devices around the world. Elliptic Labs is the only software company that has delivered detection capabilities using AI software, ultrasound, and sensor-fusion deployed at scale. The company is listed on the Oslo Børs.

Elliptic Labs is headquartered in Norway with presence in the USA, China, South -Korea, Taiwan, and Japan. Its technology and IP are developed in Norway and are solely owned by the company.

Trademark
INNER BEAUTY is a registered trademark of Elliptic Labs.

AI Virtual Smart Sensor, AI Virtual Smart Sensor Platform, AI Virtual Proximity Sensor, AI Virtual Presence Sensor, AI Virtual Connection Sensor, AI Virtual Gesture Sensor, AI Virtual Heartbeat Sensor, and AI Virtual Breathing Sensor are trademarks of Elliptic Labs.

All other trademarks or service markets are the responsibility of their respective organizations.

This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR Article 19 no. 3. The information was submitted for publication at 2023-06-16 08:43 CEST.

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June 2023 Elliptic Labs Signs New License Agreement With Top Pc Customer

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Elliptic Labs Signs New Contract with a New Leading PC/Laptop Customer

Elliptic Labs Signs New Contract with a New Leading PC/Laptop Customer
June 2023 Elliptic Labs Signs New License Agreement With Top Pc Customer