SAN JOSE, Calif. and AUBURN HILLS, Mich., Feb. 11, 2014 (GLOBE NEWSWIRE) -- Intermolecular, Inc. (Nasdaq: IMI ) and Guardian Industries announced today the expansion and extension of their collaborative development program and strategic IP licensing agreement. Guardian, one of the world's largest manufacturers of coated glass for architectural, automotive, and other applications, has been working with Intermolecular since 2010 on the development of innovative coated glass products targeting a variety of end applications.
The contract extension announced today provides for an immediate increase in resources to be deployed at Intermolecular by both companies. The parties expect to be able to significantly increase the number of new products that will be developed and commercialized resulting from the collaboration through 2017.
"Guardian is committed to growth through product innovation through external partnerships. I believe that having about 25% of our innovation portfolio getting nutrition from diversified industries creates a lot of value. This requires high level crosspollination and Intermolecular is the perfect partner for this," said Martin Bracamonte, vice president, Science and Technology, Guardian Industries Corp. "We are continuously striving to introduce value-added products to our customers through the integration of our high quality glass with advanced coatings. Intermolecular's team and proprietary methods are an important part of Guardian's pursuit of technological leadership in the flat glass industry."
Under the contract extension, an expanded Guardian and Intermolecular team will work full-time on both sputtered and liquid coatings at Intermolecular's technology development center in San Jose, CA.
Dave Lazovsky, Intermolecular's president and chief executive officer, commented, "Guardian is a technology leader in its industry and has been a tremendous collaborative partner. Making this scale of commitment to growth through product innovation is a testament to Guardian's vision and leadership. Our respective teams have been working extremely well together and we look forward to this next phase of our collaboration."
Intermolecular's mission is to improve R&D efficiency and return on investment (ROI) in semiconductor, clean-energy and display sectors by bringing a 10x-100x increase in learning cycles using combinatorial methodologies.
Forward-Looking Statements
This news release contains forward-looking statements that are based on the current opinions and estimates of management. Although the forward-looking statements are based upon information available at the time and reflect management's good faith beliefs, forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from anticipated future results. Important factors that could cause actual results to differ materially from expectations are disclosed in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof. Intermolecular disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Guardian Industries Corp.
Guardian is a diversified global manufacturing company headquartered in Auburn Hills, Michigan, with leading positions in float glass, fabricated glass products, fiberglass insulation and other building materials for commercial, residential and automotive applications. Its automotive trim group, SRG Global Inc., is one of the world's largest suppliers of advanced, high value coatings on plastics. Through its Science & Technology Center, Guardian is at the forefront of innovation including development of high performance glass coatings and other advanced products. Guardian, its subsidiaries and affiliates employ 18,000 people and operate facilities throughout North America, Europe, South America, Asia, Africa and the Middle East. Visit www.guardian.com .
About Intermolecular, Inc.
Intermolecular® has pioneered a proprietary approach to accelerate research and development, innovation, and time-to-market for the semiconductor and clean-energy industries. The approach consists of our proprietary High Productivity Combinatorial™ (HPC TM ) platform, coupled with its multi-disciplinary team. Through paid collaborative development programs (CDPs) with its customers, Intermolecular develops proprietary technology and intellectual property for its customers focused on advanced materials, processes, integration and device architectures. Founded in 2004, Intermolecular is based in San Jose, California. "Intermolecular" and the Intermolecular logo are registered trademarks; and "High Productivity Combinatorial", "HPC" and "Tempus" are trademarks of Intermolecular, Inc.; all rights reserved. Learn more at www.intermolecular.com .
Guardian Press Contact Amy Hennes, Guardian Marketing & Branding +248.340.2109 Intermolecular Press Contact David Moreno MCA Public Relations +1.650.968.8900 x125 Investor Relations Contact Gary Hsueh, Intermolecular Sr. Director of Corporate Development and Investor Relations +1.408.582.5635
