Neonode Enters Prototype Development Agreement with Leading U.S. Defense Contractor
Neonode Inc. (NASDAQ: NEON) has signed a groundbreaking agreement with a leading U.S. defense contractor for the development of novel touchscreen technology tailored for aerospace and defense applications. This marks Neonode's inaugural collaboration in the defense sector, highlighting its strategic pivot towards HMI Solutions. CEO Urban Forssell expressed pride in securing this business, anticipating significant future expansions. Furthermore, the project is expected to benefit broader commercial applications stemming from the demanding nature of aerospace and defense standards.
- First collaboration with a U.S. defense contractor, expanding into new market segments.
- Potential for significant business growth stemming from the agreement.
- Enhances broader commercial applications by leveraging aerospace and defense project demands.
- None.
STOCKHOLM, SWEDEN, Oct. 23, 2020 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) is pleased to announce that it has signed an agreement with a leading U.S. defense contractor to develop prototypes of novel touchscreen technology for aerospace and defense applications. This is the first project with a defense contractor that Neonode engages in and a direct result of executing on the new business strategy that the company has decided on for its business area HMI Solutions.
"I am extremely proud of the focused effort of our HMI Solutions team to secure this business and we are looking forward to building and delivering this mission-critical technology. Our customer is an agile and innovative global technology corporation and we see potential to expand our business with them significantly in the coming years. We also know that working on demanding aerospace and defense applications will give positive impact also on broader commercial applications, which is an added value." said Dr. Urban Forssell, CEO of Neonode.
For more information, please contact:
CONTACT:
Investor Relations
David Brunton
E-mail: david.brunton@neonode.com
Chief Executive Officer
Urban Forssell
E-mail: urban.forssell@neonode.com
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:http://www.prnewswire.com/news-releases/neonode-enters-prototype-development-agreement-with-leading-us-defense-contractor-301158834.html
SOURCE Neonode
