Neonode Signs First License Agreement for Touch Sensor Module ("TSM") Technology

STOCKHOLM, May 22, 2024 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) is pleased to announce the first license agreement for its Touch Sensor Module ("TSM") technology following the decision in December 2023 to transform its TSM business to a licensing business model. YesAR has selected the Neonode TSM technology for the development and manufacturing of holographic infotainment solutions. The agreement includes an upfront technology access fee and future royalties.

To further strengthen its offering, YesAR, a Chinese pioneer in the development of holographic display technology and a provider of a new generation of intelligent display and interactive systems, will license the Neonode Touch Sensor Module technology to develop and build holographic infotainment solutions for its customers in the automotive and elevator sectors, as well as in other market segments.

"We are excited to see momentum for our TSM technology as we are transforming from a product business to a technology licensing business. Our license agreement with YesAR ensures that our TSM technology remains a cornerstone technology in the growing market of holographic interfaces and is a testament to our continuing commitment to technological leadership and innovation through licensing," Fredrik Nihlén, Neonode's interim President and CEO and CFO, said.

"We have worked together with YesAR since 2020 and are encouraged by their steadfast belief in the market potential for Neonode TSM-based holographic solutions, now as a technology licensee. We look forward to further enhancing our close relationship with YesAR as they license our technology and look forward to seeing the innovative solutions that our technology platform will enable for YesAR and its customers," Johan Swartz, Neonode's Vice President Marketing & Sales, said.

Neonode's patented TSM technology utilizes Neonode's revolutionary zForce® optical sensing technology platform to detect touch input or objects across an invisible infrared projected plane. Leveraging Neonode's state-of-the-art zForce infrared technology, the Touch Sensor Module solution delivers incredible touch accuracy in any application that requires touch input, including contactless touch interaction in midair with projected holographic images as well as rugged touch on surfaces and displays. Easily integrated using a single-sided Touch Sensor Module sensor or a full-frame zForce implementation, Neonode's licensable touch interaction technology platforms deliver exceptional performance and value to any touch-operated application.

For more information, please contact:
Interim President and Chief Executive Officer and Chief Financial Officer
Fredrik Nihlén
E-mail: [e-mail]
Phone: [phone]

Vice President Marketing & Sales
Johan Swartz
E-mail: [e-mail]
Phone: [phone]

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