Elliptic Labs Expands to Taiwan and Signs Proof-of-Concept Contract With a New PC OEM | Financial Buzz

Elliptic Labs Expands to Taiwan and Signs Proof-of-Concept Contract With a New PC OEM

Continuing its strong push into the PC/laptop market, Elliptic Labs (EuroNext Growth: ELABS.OL) has expanded its team to Taiwan and signed a fifth Proof-of-Concept contract for its AI Virtual Presence Sensor, this time with another top-five PC manufacturer. This project will be done on an Intel Tiger Lake platform.

Elliptic Labs’ AI Virtual Presence Sensor is a software-only solution that automatically turns a laptop’s screen on and off based on whether a user is present in front of it or not. The virtual sensor does this by utilizing the laptop’s existing speaker and microphone to transmit and receive ultrasound signals, then interprets those signals using AI and proprietary algorithms to detect when a user enters or leaves the area.

Elliptic Labs’ continued success in achieving new PC partnerships demonstrates the value of its AI Virtual Presence Sensor while also underscoring the company’s growth and credibility within the PC ecosystem. Elliptic Labs has established its technology as a critical capability of laptop/PC designs, developing significant relationships and compatibility with the major platforms to ensure long-term PC market relevancy.

“As we are capitalizing on the PC market momentum and the need for human presence detection — we are expanding our team to Taiwan where the major companies we are working with have a large presence: more than 85% of laptops sold worldwide are manufactured by Taiwanese companies,” Elliptic Labs’ CEO Laila Danielsen explained. “With the PC market experiencing a renaissance in 2020 — one that we anticipate will continue into 2021 and beyond — Elliptic Labs is perfectly positioned for a big growth trajectory in the near future.”

About Elliptic Labs

Elliptic Labs is headquartered in Norway with presence in the USA, China, South-Korea, Taipei, and Japan. Founded in 2006 as a research spin-off from Norway’s Oslo University, Elliptic Labs filed its IPO with the Euronext Growth Market in October, 2020. Elliptic Labs is now a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. The Company’s patented AI software combines ultrasound and sensor-fusion algorithms to deliver intuitive 3D gesture, proximity, and presence sensing experiences. Its scalable AI Virtual Smart Sensor Platform creates software-only sensors that are sustainable, eco-friendly, and already deployed in over 150 million devices. Elliptic Labs is the only software company in the market that has delivered detection capabilities using AI software, ultrasound and sensor-fusion deployed at scale. Elliptic Labs’ technology and IP are developed in Norway and solely owned by the Company.

Contacts

Investor Relations:

Thor A. Talhaug

talhaug@ellipticlabs.com

PR Contacts:

Patrick Tsui

pr@ellipticlabs.com