Gentex and Photobit Enter Strategic Alliance
7 January 1998
Gentex and Photobit Enter Strategic Alliance
Photobit Corporation founders invented a unique, ultra low-power image
sensor technology while at NASA's Jet Propulsion Laboratory.
ZEELAND, Mich., and PASADENA, Calif., Jan. 7 -- Zeeland,
Michigan-based Gentex Corporation and Photobit Corporation of
Pasadena, California, today announced that Gentex has made an equity
investment in Photobit and that the companies have entered into a development
and supply agreement for image sensor technology for products including
automotive vehicle rear-vision systems. In 1995, the founders of Photobit
Corporation negotiated the exclusive worldwide license to the high performance
CMOS (complementary metal-oxide semiconductor) Active Pixel Sensor (APS)
technology they invented while employed at NASA's Jet Propulsion Laboratory,
California Institute of Technology, and formed Photobit to develop and
commercialize that technology.
Gentex initially will make an equity investment in Photobit in exchange
for stock equal to ten percent of its common shares outstanding.
"We believe that Photobit has the best high-resolution, color image sensor
technology available on the market today," said Gentex Chairman and Chief
Executive Officer Fred Bauer. "We have made this equity investment in the
company because we think that there is significant long-term potential for
Photobit's technology that is applicable not only to our current automatic-
dimming mirror products but also to future automotive and non-automotive
products.
"In addition, Photobit's founders have impeccable credentials and
significant experience in this field as well as in charge-coupled device (CCD)
imagers, a predecessor of CMOS APS. They have developed some extremely
important technology for NASA and others. Gentex and Photobit have been
working on a proprietary Gentex product for the past several months, and
Photobit has demonstrated impressive technological strength and know-how."
Photobit founder and Chief Executive Officer Dr. Sabrina Kemeny said that
she is "confident that the alliance with Gentex will lead to revolutionary
advances in rear-vision systems for automobiles as well as new concepts and
products for the next millennium. Our companies are founded on technologies
that will play a critical role in extending automotive safety and comfort well
beyond the current state of the art."
Photobit Corporation, headquartered in Pasadena, California, is the leader
in high-performance CMOS active pixel sensor technology. The Company was
formed in 1995 to develop and commercialize the camera-on-a-chip technology
invented by its founders while employed at NASA's Jet Propulsion Laboratory,
California Institute of Technology. The Company has a number of strategic
alliances for other products that utilize its high-performance image sensor
technology, including Eastman Kodak for digital cameras and Schick
Technologies for medical X-ray products.
Gentex Corporation is an international company that provides high-quality
products to the worldwide automotive industry and North American fire
protection market. The Company develops, manufactures and markets proprietary
electro-optic products, including interior and exterior electrochromic,
automatic-dimming Night Vision Safety(TM) (NVS(R)) automotive rearview mirrors
that dim in proportion to the amount of headlight glare from trailing vehicle
headlamps, and an extensive line of fire protection products for commercial
applications.
Gentex was the first company in the world to successfully develop and
produce a commercial electrochromic mirror for the motor vehicle industry.
The Company is the leading supplier of these mirrors to the worldwide
automotive industry. Gentex customers include Audi, Bentley, BMW, Chrysler,
Daewoo, Fiat, Ford, General Motors, Gulf States Toyota, Honda, Hyundai,
Infiniti, Kia Motors, Lexus, Mercedes-Benz, Mitsubishi, Nissan, Opel, Porsche,
Rolls Royce and Southeast Toyota Distributors.
Founded in 1974, Gentex operates out of three facilities in Zeeland,
Michigan; an automotive sales and marketing office in Livonia, Michigan; an
automotive sales and engineering subsidiary in Germany; and five regional U.S.
sales offices for the Fire Protection Products Group. The Company is
recognized for its quality products, its application of world class
manufacturing principles, for its commitment to developing and maintaining a
highly skilled workforce, and for encouraging employee ownership of the
Company's stock.
SOURCE Gentex Corporation