EVANSVILLE, Ind., Sept. 12, 2017 /PRNewswire/ — Integral Technologies, Inc. (OTC-PK: ITKG) (“Integral”), and its wholly owned subsidiary ElectriPlast Corporation, announced today that production has begun for two automotive programs awarded in late June. In preparation for production, several preliminary orders were completed in July and August for both programs. The first production order for ElectriPlast was completed this week for a North American Tier 1 for use in an EMI shielded connector in a luxury European OEM’s electric SUV. Manufacturing for the other program, an EMI shielded optical sensing application, is expected to begin late 2017. This order, for a major United States auto manufacturer, will be used in nearly two million vehicles globally. Both programs have been awarded for five years and are valued at approximately $2,000,000.
These two orders are part of a global lightweighting strategy by the Tier 1s and automotive OEMs. Europe and Asia are expected to continue to drive demand for electric vehicles(EVs) by 2040, when over 530 million EVs are forecasted to be on the road globally.(1) We expect this number to increase as China plans to ban new vehicles powered by gasoline and diesel engines and transition to EVs only.(2) “We see this as just the beginning of the EMI shielding and lightweighting opportunity for us,” stated Mo Zeidan, Integral’s CTO. “We continue to believe we are well positioned for the lightweighting revolution and are seeing a surge in opportunities since the announcement of the two program awards. We are currently working with one of our Tier 1’s advanced engineering core teams to replace their current EMI shielding technology on several current production programs. ElectriPlast provides a cost savings and improved performance,” continued Zeidan.
In other developments, ElectriPlast is currently being prototyped with a European Tier 1 for inclusion in a 2019/2020 European vehicle platform. Prototyping is anticipated to conclude in early 2018. Integral has recently quoted several other business opportunities, including an EMI shielding application for a military project.
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