LeddarTech Announces Strategic License Agreement With Solid State LiDAR Protection Inc.
QUEBEC CITY, Canada, Oct. 04, 2024 (GLOBE NEWSWIRE) -- LeddarTech Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology,
LeddarVision, for ADAS, AD and parking applications, is pleased to announce the conclusion of a strategic license agreement with Solid State LiDAR
Protection Inc.
This partnership grants Solid State LiDAR Protection the rights to produce and market LeddarTech’s advanced LiDAR module and sensor products. These proven, true solid-state LiDARs are exceptionally robust and have been instrumental across a wide range of applications, with over 65,000 units delivered since 2010.
Under the terms of the agreement, Solid State LiDAR Protection will rebrand and commercialize the products, and LeddarTech will receive royalty payments from the sale of these products. This milestone coincides with the closure of all remaining LiDAR activities at LeddarTech.
The agreement, along with two other strategic licenses established in 2023 with key partners, underscores LeddarTech’s commitment to AI-driven automotive software solutions for advanced driver assistance systems (ADAS) and autonomous driving (AD). LeddarTech’s LiDAR technology assets have been pivotal in establishing a low-touch, high-margin, royalty-based licensing business model.
“We are thrilled to partner with Solid State LiDAR Protection to serve the LiDAR market with the technology and products developed at LeddarTech,” said Michael Poulin, Vice-President of Corporate Strategy and Development at LeddarTech. “We take pride in the continuity of a business that has evolved over nearly two decades, ensuring that all aspects—business, technology, manufacturing and commercialization—remain in Quebec, Canada, managed by Canadian companies with headquarters and a majority of employees based in Quebec.”
Allan Lee, President of Solid-State LiDAR Protection Inc., stated: “This licensing agreement with LeddarTech aligns perfectly with our vision to bring advanced, solid-state LiDAR solutions to the market. The robustness and proven performance of LeddarTech’s technology provide a significant competitive advantage that will enhance our product offerings and support the evolving needs of our customers worldwide.”
About Solid State LiDAR Protection Inc.
Solid State LiDAR Protection is a leading company dedicated to developing and commercializing advanced LiDAR technologies. With a strong commitment to innovation and excellence, the company aims to enhance the safety and efficiency of automated systems worldwide.