Integral Technologies, Inc. (OTC-PK:ITKG) ("Integral"), and its wholly owned subsidiary ElectriPlast Corp., recently announced that its ElectriPlast material has been chosen by a leading European electric luxury SUV maker for use in a high voltage connector. ElectriPlast has been engaged with a North American automotive Tier 1 for the past year in bringing this application to market. The electric SUV is expected to make its European debut in late 2017. This marks the second ElectriPlast order for use in an electric vehicle platform so far this year.
"We are excited about winning this order with such a prestigious automaker with a globally renowned brand and appreciate the vision that our Tier 1 partner has in implementing ElectriPlast conductive plastic as part of their EMI shielding portfolio," stated Mo Zeidan, CTO of ElectriPlast. "We never waivered in our belief that there was tremendous potential in the automotive industry for conductive plastic and this is just another validation. Now that ElectriPlast has been adopted into multiple automotive platforms, we are very well positioned to benefit from the explosive global growth of electric vehicles." ElectriPlast is currently working with multiple Tier 1's in implementing their EMI shielding solutions for automotive applications.
The order, which will run through 2024, is ElectriPlast's first European automotive commercial order. Volumes for the program will be finalized once the complete global vehicle rollout plan is disclosed. Two million electric vehicles were on the road globally in 2016, that number is estimated to be as high as 70 million by 2025. ElectriPlast recently fulfilled an initial order for a separate Tier 1 for a different global auto platform. If awarded, this optical electronics application for that program will be utilized in approximately 2 million vehicles beginning with the 2018 model year.
SOURCE Integral Technologies, Inc.