The radar technology company Acconeer AB has signed a distribution agreement with Japanese NEXTY Electronics. NEXTY, a core company of the Toyota Tsusho Group's electronics business, is a leading Japanese distributor with especially strong coverage of companies in the automotive sector.
Lars Lindell, CEO of Acconeer, comments: "We have stated for some time that our unique radar sensor will be perfect for several use cases in the automotive industry. With this agreement with NEXTY Electronics, that we are very pleased to announce, we now have the perfect partner for reaching the most important players in the Japanese auto industry".
Atsushi Aoki, President of NEXTY Electronics, comments: "We are very excited about signing this collaboration with Acconeer and we expect to see a lot of interest in their potentially disruptive sensor from our clients going forward. It is with great anticipation we look forward to seeing what this cooperation will lead to."
For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone +46 10 218 92 00, Mail: firstname.lastname@example.org
Atsushi Aoki, President of NEXTY Electronics, Phone +81 3 5462 9666 Mail: email@example.com
This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on 11 May 2021 at 07.30.
About NEXTY Electronics Corporation
NEXTY Electronics is a core company of the Toyota Tsusho Group's electronics business and is top in class within the automotive industry, offering autonomous driving technology cultivated in the field. The company also provides innovative, connected technology solutions for application to industry peripherals, such as agricultural machinery to address technology challenges. For more information: https://www.nexty-ele.com/english/
About Acconeer AB
Acconeer is a leading radar sensor company based in Lund, south Sweden, in Ideon, the country's hottest region for wireless technologies. Acconeer is developing a truly leading ultra-low power, high precision 3D sensor which will revolutionize the way that mobile devices interpret their surroundings. Acconeers ultra-low power and millimeter precision sensor will be a robust and cost-effective solution for applications ranging from virtual reality and gaming to security and robot control. Information from the sensor can also be used to identify different materials, these are just some examples of the wide range of possibilities of application areas for the sensor. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA) and can be reached via telephone +46 (0)8 121 576 90 or via mail firstname.lastname@example.org. For more information: www.acconeer.com
Acconeer has now shipped more than 100 000 modules with the A111 radar sensor since the company launched its first module in December 2018. Since then, the company has released a range of popular modules where a radar sensor is combined with a microprocessor (MCU) and other supporting components.
Acconeer's A1 pulsed coherent radar sensor is used in an electrical car model from one of the top two American high-volume car makers for the use case access control, which allows touchless opening of the trunk of a car. This is the first commercially available car using the company's technology. Based on forecasts from the distributor, the value of the launch of this one model is estimated to USD 600 000 over three years. Sales to this customer is reflected in sales to Acconeer's distributors.
In the second quarter 2022, Acconeers net sales amounted to 10,779 kSEK, and the product revenue increased by 120% compared to the same quarter last year. A record number of sensors were sold, 167,654 and 21,294 modules were sold. In total, Acconeer has sold 1,023,177 radar sensors and 79,636 modules since launch. In the quarter 224 evaluation kits were sold, and an accumulated 5,263 EVKs have been sold since launch. The gross margin in Q2 was 62% and as much as 12 new customer products were launched. At the end of the quarter, an evaluation kit (EVK) for Acconeers second radar sensor, A121, was shipped to distributors for sale.
Acconeer ABs share capital and number of shares have increased due to the exercise of warrants in series TO2 (2019/2022). As a result, the company is increasing its cash by SEK 17 million.
The order relates to Acconeer's A111 radar sensor for customers' mass production, the evaluation kit (EVK) XE121 and related products, as well as the coming modules XM124 and XM123 including EVKs for these. BEYD is Acconeer's Chinese distributor and remains an important sales channel for the company.
As previously announced, Acconeer introduces a new high-performance radar sensor, A121, and today the evaluation kit (EVK) for the product has been shipped to distributors and will soon be available for customers to buy. The A121 radar sensor is planned to be ready for mass production in the first quarter of 2023.
As of today, Acconeer has shipped more than one million A111 pulsed coherent radar sensors in total since the company started selling Evaluation Kits (EVKs) in February 2018.
The order relates to Acconeer's A111 Pulsed Coherent Radar sensor for mass production. NEXTY Electronics is a leading Japanese distributor with especially strong coverage of companies in the automotive sector.
The order relates to Acconeer's XM132 Entry Module for customer mass production. Asteelflash is a European specialist EMS company.
The order relates to the recently announced integration-ready modules XM123 and XM124 and related Evaluation Kit (EVK), as well as the EVK for the upcoming A121 pulsed coherent radar sensor. Digi-Keys global online platform, serving customers with evaluation kits and sensors intended for mass production, remains an important distribution channel for Acconeer.
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