Gapwaves and Bosch enter into a joint development agreement for high-resolution radar antennas
Gapwaves, a Swedish tech company and Bosch, a leading global automotive supplier, have entered into an agreement regarding the development and large-scale production of high-resolution radar antennas for automotive vehicle applications aiming at highly automated driving. The contract has an expected sales value of high double-digit million-euro range over the next decade. Corresponding contracts have been signed on July 22, 2022, by the two companies.
Due to the increased demand of advanced active safety systems and autonomous applications, the market for high-resolution radar antennas for the higher levels of automated driving (SAE level 4) is predicted to strongly increase within the coming years. Gapwaves’ innovative antenna using waveguide technology enables cost efficient radar antennas with significantly increased performance. Gapwaves will therefore work together with Bosch as one of the market leading manufacturers of radar sensors for the automotive industry.
As part of the joint development Gapwaves will support with its antenna know-how and Bosch will contribute with its know-how of radar sensors and automated driving. After successful development, Gapwaves is targeting production and supply of the radar antennas in series production to Bosch.
“Gapwaves offers a novel and disruptive market leading technology for waveguide-based radar antennas. By entering into this agreement and combining our expertise, we are heading for a market leading radar sensor with significant increased performance intended for higher levels of automated driving”, says Volker Wetekam, Head of the Automated Driving unit at Bosch Mobility Solutions; “thus we are also strengthening Bosch’s position and opportunities in the emerging market for radar sensors for highly automated driving.”
“I am extremely proud that Gapwaves has entered this long-term collaboration with Bosch. We can now add another one of the largest companies within the automotive radar industry to our customer list,” says Lars-Inge Sjöqvist, CEO of Gapwaves. “The agreement with Bosch again confirms that Gapwaves antenna technology is a key component to enable a radar sensor for the higher levels of automated driving.” Mr. Sjöqvist continues. “Furthermore, this agreement confirms that Gapwaves is an approved and qualified supplier to the automotive industry, that is well-known for its extremely high requirements. Roughly, focus for the first four years will be on product development and production set-up, followed by serial deliveries of antennas the following years.”
Jonas Ehinger, Chairman of the Board at Gapwaves comments the deal:
“The agreement with Bosch is a result and an actual recognition of many years of hard work by the Gapwaves team along with its investments in technology and product development. It is also a milestone in Gapwaves’ history as the company now will be a supplier of radar antennas in high volume series production. We look forward to the future collaboration and a close partnership with Bosch as one of the market leading suppliers within the automotive industry.”
For more information, please visit the company’s websites, or contact:
Lars-Inge Sjöqvist, CEO
Phone number: +46 736 84 03 56
E-mail: [email protected]
www.gapwaves.com
Robert Berhof, CFO
Phone number: +46 706 00 59 07
E-mail: [email protected]
www.gapwaves.com
Gapwaves Certified Adviser is G&W Fondkommission
Phone number: +46 (0)8 503 000 50
E-mail: [email protected]
www.gwkapital.se
About Gapwaves AB
Gapwaves originates from research conducted at Chalmers University of Technology and was founded in 2011. Gapwaves vision is to be the most innovative provider of mm-wave antenna systems and the preferred partner to those pioneering next generation wireless technology. By leveraging the disruptive Gapwaves technology we help pioneers in telecom and automotive to create highly efficient mm-wave antenna systems that contributes to re-defining everyday life. Gapwaves markets are e.g. mmWave in 5G telecom and automotive.
Gapwaves share (GAPW B) is traded at Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser.
About Robert Bosch GmbH
Mobility Solutions is the largest Bosch Group business sector. It generated sales of 45.3 billion euros in 2021, and thus contributed 58 percent of total sales from operations. This makes the Bosch Group one of the leading automotive suppliers. The Mobility Solutions business sector pursues a vision of mobility that is safe, sustainable, and exciting, and combines the group’s expertise in the domains of personalization, automation, electrification, and connectivity. For its customers, the outcome is integrated mobility solutions. The business sector’s main areas of activity are injection technology and powertrain peripherals for internal-combustion engines, diverse solutions for powertrain electrification, vehicle safety systems, driver-assistance and automated functions, technology for user-friendly infotainment as well as vehicle-to-vehicle and vehicle-to-infrastructure communication, repair-shop concepts, and technology and services for the automotive aftermarket. Bosch is synonymous with important automotive innovations, such as electronic engine management, the ESP anti-skid system, and common-rail diesel technology.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,600 associates worldwide (as of December 31, 2021). The company generated sales of 78.7 billion euros in 2021. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.
As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company’s future growth is its innovative strength. At 128 locations across the globe, Bosch employs some 76,100 associates in research and development, of which more than 38,000 are software engineers.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPress.
This disclosure contains information that Gapwaves AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 22-07-2022 14:05 CET.
