LeddarTech Inks Strategic Licensing Deal with Solid State LiDAR Shield Company

LeddarTech Holdings Inc., a global automotive software company based in Quebec City, Canada, has announced a strategic license agreement with Solid State LiDAR Protection Inc. This partnership marks a significant step forward for both companies as they aim to bring advanced solid-state LiDAR solutions to the market.

Under the terms of the agreement, Solid State LiDAR Protection will be granted the rights to produce and market LeddarTech's advanced LiDAR module and sensor products. The company will also rebrand and commercialize these products, with LeddarTech set to receive royalty payments from the sale of these products.

LeddarTech is renowned for its patented AI-based low-level sensor fusion and perception software technology, LeddarVision™. This technology has been instrumental in establishing a low-touch, high-margin, royalty-based licensing business model for the company. LeddarTech's LiDAR technology assets have been pivotal in this success, with over 160 patent applications (87 granted) that enhance Advanced Driver Assistance Systems (ADAS), Autonomous Driving (AD), and parking capabilities.

Solid State LiDAR Protection, a company dedicated to developing and commercializing advanced LiDAR technologies, has been delivering solid-state LiDARs since 2010. These LiDARs are robust and have been instrumental across a wide range of applications, with over 65,000 units delivered to date.

Allan Lee, President of Solid-State LiDAR Protection Inc., expressed his alignment with the vision to bring advanced, solid-state LiDAR solutions to the market. He stated, "We are excited to partner with LeddarTech, a leader in AI-driven automotive software solutions. This partnership will enable us to accelerate our product development and bring innovative LiDAR technologies to market faster."

Michael Poulin, Vice-President of Corporate Strategy and Development at LeddarTech, shared his excitement about the partnership. He said, "We are thrilled to partner with Solid State LiDAR Protection. Their expertise in LiDAR manufacturing and our leadership in AI-driven automotive software solutions create a powerful combination that will drive the adoption of our technology in the market."

LeddarTech's operations are subject to various risks and uncertainties, including general economic and industry-specific conditions, potential disruptions from business combinations, and legislative, regulatory, and epidemic developments. However, the company's financial information is accessible on its website and in reports filed with the U.S. Securities and Exchange Commission.

LeddarTech's stock is traded on the Nasdaq Global Market under the symbol "LEDDS" and on the TSX Venture Exchange under the symbol "LDS". This strategic license agreement, along with two other strategic licenses established in 2023 with key partners, underscores LeddarTech's commitment to AI-driven automotive software solutions for advanced driver assistance systems (ADAS) and autonomous driving (AD).

The agreement marks the closure of all remaining LiDAR activities at LeddarTech, positioning the company to focus solely on its software solutions. LeddarTech's goal is to become the most widely adopted sensor fusion and perception software solution for better global mobility.

LeddarTech's technology applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment for safer navigation. The company is headquartered in Quebec City, with additional R&D centers in Montreal and Tel Aviv, Israel.

This partnership between LeddarTech and Solid State LiDAR Protection is expected to drive innovation in the LiDAR industry and contribute to the development of safer and more efficient autonomous vehicles.