Gentherm Introduces Heated And Ventilated Chair For Global Office Furnishings Market Production Expected to Begin at End of Year
NORTHVILLE, Mich., May 23, 2013 /PRNewswire/ -- Gentherm Incorporated (NASDAQ-GS: THRM), the global market leader and a developer of innovative thermal management technologies, today announced that it introduced a new, innovative heated and ventilated chair for the office market last week at Interzum Cologne 2013. Held in Cologne, Germany from May 13 through May 16, Interzum Cologne 2013 was billed as "the world's biggest trade fair for suppliers to the furnishing industry and interior finishing."
The new heated and ventilated office chair, which is expected to begin production at the end of 2013, is another new Gentherm innovation for the global office furnishing market. A related Gentherm product, the thermoelectrically heated and cooled office chair, was introduced last fall.
The heated and ventilated chair is battery operated and provides thermal conditioning in less demanding environments and at lower costs than the thermoelectrically heated and cooled chair.
The new heated and ventilated chair was well received at the trade fair, noted Gentherm President and Chief Executive Officer Daniel R. Coker.
"We believe there will be significant demand for a heated and ventilated chair in the global office furnishing market," Coker said. "Much like we have found with our popular heated and cooled seat systems in the automotive market, people all over the world enjoy the comfort, and the option, of actively controlling their own thermal environments. It's an added value to office furnishing and, based in part on the interest we saw at Interzum, we believe the heated and ventilated office chair will be an important new product for Gentherm. By offering this product along with our heated and cooled office chair, we give our customers the opportunity to purchase a wider range of climate control products from us across the price spectrum."
Heating and cooling a workplace can account for 45 percent of a company's annual electric usage. Instead of heating and cooling the entire building or all offices, Gentherm's technology allows you to provide temperature control exactly where it's needed, which may reduce overall energy use and lower operating costs.
The Department of Energy estimates a cost savings of $40-100 per year by adjusting the home thermostat 10-15 percent for an 8 hour period. By cooling or heating one's personal work space, a similar reduction in overall office energy use is possible.
Gentherm is best known globally for heated and cooled seat systems featured in more than 50 vehicle models made by the world's leading automotive manufacturers. In recent years, the Company has applied its proprietary thermoelectric technology in other markets, including mattresses and bedding products, storage bins and cup holders, and office furniture.
Gentherm Incorporated (NASDAQ-GS:THRM) is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications. Automotive products include actively heated and cooled seat systems and cup holders, heated and ventilated seat systems, thermal storage bins, heated seat and steering wheel systems, cable systems and other electronic devices. The Company's advanced technology team is developing more efficient materials for thermoelectrics and systems for waste heat recovery and electrical power generation for the automotive market that may have far-reaching applications for consumer products as well as industrial and technology markets. Gentherm has more than 6,000 employees in facilities in the U.S., Germany, Mexico, China, Canada, Japan, England, Korea, Malta, Hungary and the Ukraine. For more information, go to www.gentherm.com.
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, additional financing, if necessary, may not be available, 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 Gentherm's Securities and Exchange Commission (SEC) filings and reports, including, but not limited to, its Form 10-Q for the period ended March 31, 2013, and its Form 10-K for the year ended December 31, 2012; all of which are available free of charge on the SEC's website at www.sec.gov. Gentherm expressly disclaims any intent or obligation to update any forward-looking statements.
SOURCE Gentherm Incorporated