Gothenburg, January 29th, 2025: Gapwaves entered into an agreement for the sale of automated production equipment for high-volume assembly and testing of waveguide antennas to Frencken Group. The agreement has a total value of ca MEUR 2.9 and is expected to be delivered during 2025 and 2026.
This follows the recent appointment of Frencken Group as a production partner for the high-volume production, assembly and testing of Gapwaves waveguide antennas under the joint development and supply agreement between Gapwaves and Valeo.
Gapwaves CEO Jonas Ehinger comments: "We are pleased to reach an agreement for the sale of production equipment to our partner, Frencken Group. Our close collaboration with Frencken is important for Gapwaves in our role as a full-service partner and supplier for customers, which includes providing advanced equipment for the automated high-volume production lines that are required. The start of production for the Valeo antenna starts in 2025 here in Gothenburg. The production will then be transferred to the high-volume line at the Frencken production facility in China during 2026".
For more information, please visit www.gapwaves.com or contact:
Jonas Ehinger, CEO Gapwaves AB (publ)
Phone number: +46 733 44 01 52
E-mail: jonas.ehinger@gapwaves.com
Robert Berhof, CFO Gapwaves AB (publ)
Phone number: +46 706 00 59 07
E-mail: robert.berhof@gapwaves.com
Gapwaves Certified Adviser is G&W Fondkommission AB
www.gwkapital.se
About Gapwaves AB (publ)
Gapwaves AB (publ) 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 for a safer and more sustainable society. By leveraging the disruptive Gapwaves technology, we help pioneers in automotive and telecom to create highly efficient mm-wave antenna systems that contributes to re-defining everyday life.
Gapwaves' share (GAPW B) is traded on the Nasdaq First North Growth Market Stockholm with G&W Fondkommission as certified adviser.
This information is information that Gapwaves is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-01-29 16:00 CET.
