Northville, MI — March 19, 2009 — /PRNewswire-FirstCall/ -- Amerigon Incorporated (NASDAQ:ARGN) , a leader in developing and marketing products based on advanced thermoelectric (TE) technologies, today announced that it has been awarded a contract to manufacture a heated and cooled cup holder for the automotive market based on its advanced TE technology. The cup holder is expected to be launched in a full-size sedan by a major automotive manufacturer in the fall of 2010.
The dual cup holder provides for separate temperature settings in each holder that allow the driver and passenger to individually control the heating or cooling of their respective beverages. A similar heating and cooling technology is the basis of Amerigon's proprietary Climate Control Seat(TM) (CCS(TM)) system, now featured in numerous vehicles manufactured by Ford, General Motors, Toyota, Nissan, Hyundai, Kia and Tata Motors.
The dual cup holder has been designed to be packaged in multiple configurations to accommodate different console environments. In addition to requiring low power consumption, it has proven automotive grade, ruggedness, high reliability and drink retention features.
Amerigon President and Chief Executive Officer Daniel R. Coker said, "The heated and cooled cup holder is just one of a number of potential products in development that will expand the application of our advanced TE technology beyond our highly successful CCS system and dramatically change the way we heat and cool automotive interiors. Our goal is to continue to be the leading provider of TE-based products through strategic relationships with automotive manufacturers and market leaders in other industries."
Amerigon's thermoelectrics team has been working with multiple strategic partners including the U.S. Department of Energy, Sealy Corporation and Carrier Corporation to develop product applications in a variety of automotive and non-automotive markets. As a result of its work with its development partners and a number of materials industry leaders, the Company has made significant improvements in the efficiency of thermoelectrics.
Thermoelectric technology relates to the direct conversion of electrical current to thermal energy (Peltier effect) or the direct conversion of heat differentials to electric current (Seebeck effect). Advanced TEs are more environmentally friendly than conventional compressed gas systems, less complex because they have no moving parts, more compact and lighter in weight. A single TE device provides both heating and cooling in Amerigon's automotive applications.
Amerigon (NASDAQ:ARGN) develops products based on its advanced, proprietary, efficient thermoelectric (TE) technologies for a wide range of global markets and heating and cooling applications. The Company's current principal product is its proprietary Climate Control Seat(TM) (CCS(TM)) system, a solid-state, TE-based system that permits drivers and passengers of vehicles to individually and actively control the heating and cooling of their respective seats to ensure maximum year-round comfort. CCS, which is the only system of its type on the market today, uses no CFCs or other environmentally sensitive coolants. Amerigon maintains sales and technical support centers in Southern California, Detroit, Japan, Germany, England and Korea.
Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties, and actual results may be different. Important factors that could cause the Company's actual results to differ materially from its expectations in this release are risks that sales may not significantly increase, new competitors may arise and adverse conditions in the automotive industry may negatively affect its results. The liquidity and trading price of its common stock may be negatively affected by these and other factors. Please also refer to Amerigon's Securities and Exchange Commission filings and reports, including, but not limited to, its Form 10-K for the year ended December 31, 2008.
Contact: Allen & Caron Inc
Jill Bertotti (investors)
Len Hall (media)
Source: Amerigon Incorporated