Intrinsyc Announces Two New Clients Launching Commercial Products Powered by the Open-Q™ 820 Micro System on Module (“µSOM”) and Additional Orders
Initial Production Hardware Orders Received Totaled US$287,000, with Additional Product Development Services Agreements and Hardware Orders valued at US$342,000
Vancouver, BC – January 16, 2018 – Intrinsyc Technologies Corporation (TSX: ITC and OTC: ISYRF) (“Intrinsyc” or the “Company”), a leading provider of solutions for the development and production of embedded and Internet of Things (“IoT”) products, today announced two new production wins with the receipt of initial orders valued at US$287,000. The Company also signed product development services agreements and hardware orders from existing clients valued at US$342,000
“We are pleased to kick off the new year with two new production clients launching commercial products utilizing Intrinsyc’s Open-Q™ 820 System on Module (“SOM”), as well as the receipt of additional orders from existing clients,” stated Mark Waldenberg, Vice President, Global Sales, Intrinsyc Technologies Corporation. “The Open-Q™ 820 µSOM’s ultra-small size, 50mm x 25mm, advanced computing performance, and rich multimedia functionality, provide the perfect platform for creating high performance IoT devices.
Intrinsyc’s Open-Q™ 820 Micro System on Module (µSOM) will power devices from companies building robotics and industrial IoT devices. Revenue from these new orders is expected to be realized over the first half of 2018.
Intrinsyc’s Open-Q™ embedded computing modules come with robust Linux and Android BSP support, pre-certified WiFi connectivity, and comprehensive support and product development services to enable our clients to accelerate time to market and build the highest quality and innovation into their IoT products.
Forward-Looking Statements This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involves risks and uncertainties. Such forward-looking statements or information may include statements regarding the Company’s future plans, objectives, delivery performance, revenues, or the company’s underlying assumptions. The words “may”, “would”, “could”, “will”, “likely”, “expect,” “anticipate,” “intend”, “plan”, “forecast”, “project”, “estimate” and “believe” or other similar words and phrases may identify forward-looking statements or information. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Company’s actual future results or performance may be materially different. Risk factors are described in the Company’s reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2016. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
About Intrinsyc Technologies Corporation Intrinsyc Technologies Corporation is a product development company that combines production ready computing engines with unmatched product development expertise to enable rapid commercialization of embedded and Internet of Things (“IoT”) products. Intrinsyc has successfully delivered over 1,000 projects from mobile phones and tablets to IoT products like robotics, wearables, connected cameras, augmented reality glasses, and much more. Intrinsyc’s Open-Q™ System on Modules incorporate the industry’s most advanced processor technology available and help OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX: ITC and OTC: ISYRF) and is headquartered in Vancouver, BC, Canada, with additional product development centers in Boulder, CO, and Taipei, Taiwan.
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