Elliptic Labs Signs Expansion Contract with Commercial Segment of PC Customer

Elliptic Labs Signs Expansion Contract with Commercial Segment of PC Customer

Issuer

Elliptic Laboratories ASA

Oslo, Norway --- Elliptic Labs (OSE: ELABS), a global AI software company and
the world leader in AI Virtual Smart SensorsTM currently deployed in over 500
million devices, has signed a new expansion contract with the Commercial
segment of an existing PC customer. This contract will enable this customer to
deploy Elliptic Labs' AI Virtual Presence Sensor PlatformTM on more laptop
models, to be launched between 2024 and 2026.

"Our AI Virtual Smart Sensor Platform is proving its growing value for our PC
customers and the PC industry at large," said Laila Danielsen, CEO of Elliptic
Labs. "By introducing our deep neural networks --- Elliptic Labs' Small
Sensing Models --- to more production laptop models, we are adding contextual
intelligence to these devices. This is a key part of the transition to modern
AI PCs. The transition to AI-capable devices is the main driver of the
expected upcoming growth cycle in the PC/laptop industry, and Elliptic Labs is
well positioned to drive this transition with its technological leadership in
AI, ultrasound, and sensor fusion, making devices smarter, greener, and more
human 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
[email protected]

PR Contact:
Patrick Tsui
[email protected]

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.

More information:
Access the news on Oslo Bors NewsWeb site

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