CondAlign securesNOK 8 million in grant from Innovation NorwayOslo January 6, 2023 - CondAlign is awarded aNOK 8 million Innovation Contract grant from Innovation Norway to scale the unique CondAlign product offering into new, fast growing markets for connecting electronics. The grant ofNOK 8 million is non-dilutive and part of a customer-driven, commercial scaling project running in 2023 and 2024. In this project, CondAlign is working with market-leading customers to enter and scale into new markets. One of the customers is TactoTek, a company using CondAlign products to disrupt electronic consumer, automotive and industrial markets with in-mold solutions. "The support from Innovation Norway validates CondAlign's business model and further underlines the high level of interest for our disruptive technology. This grant together with the strong cooperation with our customers gives us the opportunity to develop and deploy a portfolio of products for the global markets even faster", says CEOHarald Wahl Breivik . InnovationNorway grants capital through its Innovation Contract instrument to companies with a global growth potential. For more information, please contact:Harald Wahl Breivik , CEO harald.breivik@condalign.no +47 976 33 815 About Innovation Norway: InnovationNorway is the Norwegian Government's most important instrument for innovation and development of Norwegian enterprises and industry. We support companies in developing their competitive advantage and to enhance innovation. InnovationNorway create value by stimulating to profitable business development throughoutNorway . Our programmes and services are intended to create more successful entrepreneurs, more enterprises with capacity for growth and more innovative business clusters. About TactoTek: TactoTek is the leading provider ofInjection Molded Structural Electronics (IMSE) solutions that integrate printed circuitry and electronic components into 3D injection molded smart surfaces. Leading IMSE use cases include human-machine interfaces (HMI), connectivity, and electronic styling features for automotive, smart homes, appliances, and other markets. IMSE outperforms conventional electronics manufacturing methods by reducing Greenhouse gas emissions significantly. Benefiting from simulated design processes and reduced material use, IMSE Designed smart surfaces are considerably lighter in mass, leading to substantial lifetime greenhouse gas reductions. TactoTek® develops and industrializes IMSE technology, creates mass production-ready IMSE® prototypes, and licenses IMSE technology for 3rd party IMSE part design and global mass production. About CondAlign: CondAlign is a Norwegian technology company developing and supplying conductive films for connecting electronics and transferring heat. CondAlign's products address existing and new markets within electronics and e-mobility. The patented technology enables development of new break-through consumer products as well as industrial applications, providing improved performance, sustainability and cost savings. CondAlign is based inOslo, Norway with a global customer footprint
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