QUEBEC CITY, CANADA, February 10 , 2014 LeddarTech, owner of the patented Leddar LED-based detection technology is pleased to announce that it has signed a cooperation, development and licensing agreement with Valeo, one of the worlds leading automotive suppliers.
This cooperation between LeddarTech and Valeo will enable Valeo to develop a new infrared sensor for series-produced vehicles and cross a new threshold in its effective deployment of road obstacle detection and tracking functions. Already a market leader in driving assistance systems (ADAS), Valeo will thus strengthen its offer in active safety functions designed to meet new EuroNCap 2016 standards in Europe.
This agreement is a very important step for LeddarTech, as it confirms the value of our technology and allows us to enter one of the largest and most demanding markets in the world alongside a top, pioneering automotive supplier, mentioned Charles Boulanger, Acting Chief Executive Officer of LeddarTech. Furthermore, it will allow us to introduce an Application Specific Integrated Circuit (ASIC) into our portfolio of Leddar modules, further enhancing Leddar performance and competitive advantages, adds Mr. Boulanger.
Building on the strength of this agreement, LeddarTech will be able to gain access to incremental markets by offering a broad array of modules, adapted to each vertical markets. The versatility of the Leddar technology, as well as its ease of integration, will allow it to quickly make inroads in numerous other major markets.
About Valeo (www.valeo.com)
Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for the automotive industry, mainly for CO2 emissions reduction. Valeo ranks among the world’s top automotive suppliers. The Group has 124 plants, 20 research centers, 36 development centers, 12 distribution platforms and employs 75,300 people in 29 countries worldwide. In 2012, Valeo generated revenue of 11.8 billion and invested 1 billion in research and development.
About LeddarTech (www.leddartech.com)
LeddarTech is the worlds only supplier of advanced detection and ranging systems based on patented, leading-edge sensing technology that performs time-of-flight measurement using pulses from infrared LEDs processed through innovative algorithms, thus detecting a wide range of objects under various environmental conditions. Leddar Technology is highly adaptable, serves multiple markets and comes in different formats (assemblies, modules, or application-specific modules), providing developers, integrators, brand owners and OEMs with a solution that meets their needs while ensuring quick and simple integration.