Do you appreciate the fact that we live in a time where we can benefit a lot from what technology offers to us? We see advancements not only in the gadgets we use. Technology is really everywhere, promising to make our lives better.
With what technology can do, Sealy, one of America’s largest bedding company, is working together with Amerigon Incorporated, a company that develops thermoelectric technology, to produce a new bedding system.
What that product is hasn’t been launched yet as this project is still in its development stage. But it definitely is something the market should look forward to.
Amerigon Forms Partnership With Sealy Corporation to Develop Line of Heated and Cooled Sleep Systems Using Amerigon Advanced Thermoelectric Technology
New Bedding Products Expected to Set New Standard of Year-Round Sleeping Comfort
NORTHVILLE, Mich., Sept. 23 /PRNewswire-FirstCall/ — Amerigon Incorporated (Nasdaq: ARGN), a leader in developing products based on advanced thermoelectric (TE) technologies for a wide range of global markets and applications, announced today that it has formed a partnership to develop a suite of heated and cooled bedding products with Sealy Corporation (NYSE: ZZ), the largest bedding manufacturer in the world, using Amerigon’s advanced TE technology.
“Sealy is the market share leader with the highest consumer awareness of any bedding brand in North America, and we are very proud to be working together in product development,” said President and Chief Executive Officer Daniel R. Coker. “This agreement is strategically important to Amerigon as we continue to work with a number of industry leaders like Sealy to establish new applications that expand the use of our advanced TE technology beyond our highly successful Climate Control Seat(TM) (CCS(TM)) systems to a range of products aimed at very large markets outside the automotive industry.”
Thermoelectric Technology and Amerigon’s Heating and Cooling Application
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).
Amerigon’s highly-efficient, solid-state thermoelectric device acts as a heat pump in heating and cooling applications. In those applications, ambient air is forced through the heat pump and thermally conditioned in response to temperature settings in the electronic control units. The conditioned air is then circulated through small ducts or channels just below the surface material by a specially designed, quiet fan so that the surface temperature can be heated or cooled.
Sealy is the largest bedding manufacturer in the world with sales of $1.7 billion in 2007. The company manufactures and markets a broad range of mattresses and foundations under the Sealy(R), Sealy Posturepedic(R), Stearns & Foster(R), and Bassett(R) brands. Sealy operates 26 plants in North America, and has the largest market share and highest consumer awareness of any bedding brand on the continent. In the United States, Sealy sells its products to 2,900 customers with more than 7,000 retail outlets. Sealy is also a leading supplier to the hospitality industry. For more information, please visit www.sealy.com.
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, 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 Amerigon’s Securities and Exchange Commission filings and reports, including, but not limited to, its Form 10-Q for the period ended June 30, 2008 and its Form 10-K for the year ended December 31, 2007.
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SOURCE Amerigon Incorporated