Elliptic Labs Signs PC License Contract with Existing PC Customer in the Consumer Segment

26 Jun 2024 07:00 CEST

Oslo, Norway --- Elliptic Labs (OSE: ELABS), a global AI software company and
the world leader in AI Virtual Smart SensorsTM, is announcing the signing of a
new license contract with an existing PC customer. This contract marks
Elliptic Labs' entry into the consumer segment for this PC customer, enabling
the delivery of Elliptic Labs' AI Virtual Human Presence SensorTM across a wide
range of laptop models.

"Our expansion into this PC customer's consumer segment serves as strong
evidence that our technology is equally relevant across all segments of the
laptop market," said Laila Danielsen, CEO of Elliptic Labs. "We are executing
on our strategy and vision of going deeper with existing customers while also
showing that our technology has significant growth potential across our
customers' product portfolios. We remain committed to drive innovation, making
devices smarter, greener, and more user-friendly."

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
Lars.Holmoy@ellipticlabs.com

PR Contact:
Patrick Tsui
pr@ellipticlabs.com

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 PlatformTM 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 2024-06-26 07:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

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