In March's newsletter, we focused on informing about the sales work that has begun and cost optimization in the business. Today we have come a long way on the road, and many positive things are happening in sales and marketing. We have started production of full-scale JIRS30 panels and begun exciting collaborative projects to develop product prototypes. We see a strong interest in the market for us as a company and our products.
Customer focus and prototypes
As I mentioned in the last newsletter, after ramping up sales, we have several ongoing customer collaborations where the goal is to create prototypes of the customer's final product, with our products as part of the overall solution.
These projects are critical because they are a step into markets where our products can be used and will prove the usefulness of our products from both a technical and economic perspective.
Right now, JIRS30 is being evaluated by several European customers regarding projects for presence detection and heat flow measurement. The unique property of JIRS30 to measure heat flow raises a lot of interest among manufacturers of consumer products who want to find solutions for temperature measurement in products close to the body, such as "wearables."
At the same time, the collaborative project with our Taiwanese partner regarding the integration of JIRS10 with an ASIC continues. The ASIC specially designed to work together with JIRS10 is in the final phase of being fully developed, and according to our partner, the plan is to reach Engineering Samples status during the summer. Then the first prototypes of the composite system will be able to be sent out to end customers, and we will then also receive a more precise plan for the product launch from our partner. The final product, an integrated and optimized sensor for presence detection and non-contact temperature measurement, is intended for use in consumer electronics.
Regarding the JIRS40, we are currently evaluating a design change with the customer Yoyon that will potentially give the sensor better performance and lower production costs. After evaluating the two options, the first volume delivery will occur.
Evaluation Kit and JIRS30 delivered to customers
We previously told you about developing an Evaluation Kit (EVK). We have now sent customers our first JIRS30 Evaluation Kits (EVK). This means that customers and prospects can easily test and verify the functionality of the sensor elements they want to evaluate in their projects.
We have also sent out the first JIRS30 sensor elements to an external customer for evaluation; the elements came from completed production panels in the process of reaching Engineering status (ES1). It's incredibly inspiring that customers are so curious about our product that they want samples right now!
Status of production of JIRS30
The work to go from a development phase to creating a stable and volume-delivering product flow of JIRS30 within the framework of the fabless structure we established together with Varioprint is in the final step. The clearest sign of this is that we are now producing thousands of functional sensors when we continuously complete panels.
The quality controls we have implemented indicate that we currently have several products in the flow that will deliver ES1 level. This means that we have reached the level that we judge to be sufficient to meet customers' demands regarding both volume and price. Thereby we will also get to ES status and can push further towards qualification of the final product. Please read Leif Borg's slightly more detailed description, "Status report Production flow of JIRS30 against Engineering Samples".
Financing solution in place
At the end of April, it was announced that JonDeTech entered into a financing agreement with Nordic Growth Opportunities 1, to a maximum amount of SEK 23.21 million, where the financing is available in 13 tranches over the next 24 months.
This is suitable primary financing for the company, meaning we cover most of our operational costs. However, we must continue to optimize our resources and prioritize activities so that even with a limited budget, we can achieve our goals.
The goal to win more contracts in 2023 and, above all, to start generating revenue for our products and services remains unchanged.
About this newsletter
In the newsletter, we summarize the latest events and progress in JonDeTech. The goal is to give our stakeholders an overall picture of the situation, as individual press releases often provide only some of the information on the progress the company is making.
CEO JonDeTech Sensors AB
For more information, please contact:
Dean Tosic, CEO JonDeTech, phone: +46 73 994 85 70, mail: email@example.com
JonDeTech is a supplier of sensor technology. The company markets a portfolio of IR sensor elements based on proprietary nanotechnology and silicon MEMS. The nanoelements are extremely thin, built-in flexible plastic, and can be manufactured in high volumes at a low cost, which opens up for a variety of applications, such as temperature and heat flow measurements, presence detection, and gas detection. The company is listed on Nasdaq First North Growth Market. Redeye is the company's Certified Adviser. Read more at www.jondetech.se or see how the IR sensor works at www.youtube.com/watch?v=2vEc3dRsDq8.
Press releases and reports via E-mail.