Resonant Inc. (NASDAQ: RESN), a developer of software tools and intellectual property and design services provider of filters for radio frequency front-ends (RFFE) that specializes in delivering solutions for difficult bands and complex requirements, today announced that its wholly owned Swiss subsidiary, GVR Trade SA, executed a contract with EuroStars to fund a multi-year project for the development of sensors for new medical applications. The project is a three-way collaboration between the Center for Physical Sciences and Technology (Lithuania), MIT-SOFT JSC (Lithuania), and GVR Trade SA. This will be the first project that will leverage both GVR Trade's advanced SAW sensor designs and Resonant's Infinite Synthesized Networks (ISN) platform to pursue development of radically-simplified readout algorithms invariant to a sensor's temperature and an array of 10 or more battery-less sensors to be interrogated at RF power levels 10-100 times lower than that of a mobile phone. An additional expected benefit is that the system will not require calibration. Furthermore, these ultra wideband (UWB) SAW sensors are immune to the multipath reflection problems that limit most remote-sensor technologies. Expected application areas include medical temperature sensing, such as skin temperature monitoring in perinatal hospitals and industrial temperature sensing in ovens, electric switch boxes, rotating parts and other equipment. It is complementary developments like these that have the ability to utilize Resonant's ISN to facilitate and deliver upon the RFFE design requirements for next-generation 5G devices. Resonant has published a whitepaper titled " RF Innovation and the Transition to 5G Wireless Technology" that provides more information on how its technology can be used in 5G RFFE. "The collaboration among our teams in Santa Barbara, Burlingame and Neuchatel on this cutting edge EuroStars development project is a great first validation of our acquisition of GVR Trade SA this past summer," said Terry Lingren, CEO and Co-Founder of Resonant Inc. "The consortium with our Lithuanian counterparts led by Dr. Victor Plessky further confirms our belief in Victor's leadership in the area of advanced filter development."
About EuroStarsEuroStars is the first European funding and support program to be specifically dedicated to support innovative R&D projects for technology and research-performing small and medium-sized enterprises (SMEs). The goal of the program is to stimulate international collaborative research and innovation projects that will be rapidly commercialized. For more information, please visit www.eurostars-eureka.eu. About Resonant Inc. Resonant is creating innovative filter designs for the RF front-end, or RFFE, for the mobile device industry. The RFFE is the circuitry in a mobile device responsible for the radio frequency signal processing and is located between the device's antenna and its digital baseband. Filters are a critical component of the RFFE that selects the desired radio frequency signals and rejects unwanted signals and noise. About Resonant's ISN® Technology Resonant can create designs for hard bands and complex requirements that we believe have the potential to be manufactured for half the cost and developed in half the time of traditional approaches. The Company's large suite of proprietary mathematical methods, software design tools and network synthesis techniques enable it to explore a much bigger set of possible solutions and quickly derive the better ones. These improved filters still use existing manufacturing methods (e.g. SAW) and can perform as well as those using higher cost methods (e.g. BAW). While most of the industry designs surface acoustic wave filters using a coupling-of-modes model, Resonant uses circuit models and physical models. Circuit models are computationally much faster, and physical models are highly accurate models based entirely on fundamental material properties and dimensions. Resonant's method delivers excellent predictability, enabling achievement of the desired product performance in roughly half as many turns through the fab. In addition, because Resonant's models are fundamental, integration with its foundry and fab customers is eased because its models speak the "fab language" of basic material properties and dimensions.
Safe Harbor/ Forward-Looking StatementsThis press release contains forward-looking statements, which include the following subjects, among others: the capabilities of our ISN Technology and filter designs, and the expected uses of sensors development pursuant to the EuroStars contract. Forward-looking statements are made as of the date of this document and are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: our limited operating history; our ability to complete designs that meet EuroStars specifications; the ability to commercialize technology and designs developed pursuant to the EuroStars contract; the ability of our customers (or their manufacturers) to fabricate designs in commercial quantities; the ability of our designs to significantly lower costs compared to other designs and solutions; the risk that the intense competition and rapid technological change in our industry renders our designs less useful or obsolete; our ability to find, recruit and retain the highly skilled personnel required for our design process in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions " Risk Factors" and " Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.