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Oslo, Norway — Elliptic Labs (EuroNext Growth: ELABS.OL), a global AI software company and the world leader in AI Virtual Smart Sensors™, is announcing that it has signed its first proof of concept (PoC) agreement for the Smart TV market with a leading global Smart TV manufacturer. This PoC will entail Elliptic Labs' AI Virtual Smart Sensor Platform™ bringing innovative user experiences like presence detection and touchless gestures to the Smart TV OEM's next generation television products.

Elliptic Labs' AI Virtual Smart Sensor Platform solution for Smart TV devices provides an innovative contextually aware solution to a new product category. For instance, the AI Virtual Presence Sensor™ can enable a Smart TV to determine if no one is present, thus allowing it to save power by turning off the screen.

"Elliptic Labs has been making significant progress in attracting the largest OEMs in new consumer electronic verticals. New projects in the laptop, IoT, and now Smart TV space is a strong signal to the value of our AI Virtual Smart Sensor Platform," said Laila Danielsen, CEO of Elliptic Labs. "Our strong expertise in ultrasound, sensor fusion and AI brings innovative user experiences to new hardware designs while eliminating the ongoing hardware component supply chain concerns. These powerful value propositions cut across multiple markets, positioning Elliptic Labs strongly for future growth and opportunities."

AI Virtual Smart Sensor, AI Virtual Smart Sensor Platform, and AI Virtual Presence Sensor are trademarks of Elliptic Labs.

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