About Gentex Corp

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection technologies, including automatic-dimming rearview and non-dimming mirrors and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry. The company's largest business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize proprietary electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. Within this business segment, the company also designs, develops and manufactures various electronics that are value added features to the interior and exterior automotive rearview mirrors, as well as electronics for interior visors, overhead consoles, and other locations in the vehicle. The company ships its products to all of the major automotive producing regions worldwide, which it supports with numerous sales, engineering and distribution locations worldwide. The company manufactures smoke detectors, a product line that has since evolved to include a variety of fire protection technologies. The company offers an interior electromechanical automatic-dimming rearview mirror as an alternative to the manual day/night rearview mirrors for automotive applications. The company offers an interior electrochromic automatic-dimming rearview mirror for automotive applications. The company offers an exterior electrochromic automatic-dimming rearview mirror for automotive applications. The company offers three new exterior mirror sub-assembly products: thin glass flat; convex; and aspheric. The company makes volume shipments of its bezel-free exterior automatic dimming mirror. The company delivers electrochromic dimmable aircraft windows for the aviation industry. The company offers HomeLink, a wireless vehicle/home communications product that enables drivers to remotely activate garage door openers, entry door locks, home lighting, security systems, entry gates and other radio frequency convenience products for automotive applications. The ships the Full Display Mirror (FDM) which is an on-demand, mirror-borne LCD display that streams live, panoramic video of the vehicle's rearward view in order to improve driver rear vision. The company offers the integration of toll module technology into the vehicle in a first-to-market application referred to as Integrated Toll Module or ITM. The interior mirror is an optimal location for a vehicle-integrated toll transponder and it eliminates the need to affix multiple toll tags to the windshield. The company has an agreement entered into during the ordinary course of business with VOXX International Corporation to become the exclusive aftermarket distributor of the Gentex Aftermarket Full Display Mirror in North America. The company has also displayed a new three-camera rear vision system that streams rear video - in multiple composite views - to a rearview-mirror-integrated display. Further, the company has announced an embedded biometric solution for vehicles that leverages iris scanning technology to create a secure environment in the vehicle. There are many use cases for authentication, which range from vehicle security to start functionality to personalization of mirrors, music, seat location and temperature, to the ability to control transactions not only for the ITM system, but also the ride sharing car of the future. The company's future plans include integrating biometric authentication with many of its other electronic features, including HomeLink and HomeLink Connect or the ITM. The biometric system allows for added security and convenience for multiple drivers by adding an additional factor of authentication for increased security, when a driver (or passenger) enters a vehicle. The company has an exclusive licensing agreement, in the ordinary course of business, with Fingerprint Cards AB to deploy its ActiveIRIS iris-scanning biometric technology in automotive applications. In January 2019, the company announced that it would be offering, as optional content, its latest generation of variable dimmable windows on the Boeing 777X aircraft. During the third quarter of 2019, the first production shipments of variably dimmable windows were made to Boeing for the 777X program. In January 2020, the company announced that Airbus will also be offering the company's dimmable aircraft windows on its aircraft, with production having begun in 2021. In January 2020, the company unveiled an innovative lighting technology for medical applications that was co-developed with Mayo Clinic. This new lighting concept represents the collaboration of a global, high-technology electronics company with a world leader in health care. The company's new intelligent lighting system combines ambient room lighting with camera-controlled, adaptive task lighting to optimize illumination for surgical and patient-care environments. The system was developed over an 18-month period of collaboration between the company engineers and Mayo Clinic surgeons, scientists, and operating room staff. The teams researched, designed, and rapidly iterated multiple prototypes in order to develop unique features that address major gaps in current surgical lighting solutions. The company will continue to work on the intelligent medical lighting system in order to assess system performance and work toward obtaining any necessary approvals. In 2020, the company, in the ordinary course of business, acquired Vaporsens, Inc. (Vaporsens), which specializes in nanofiber chemical sensing research and development. This new nanofiber technology can detect a wide variety of chemicals, including explosives, drugs, volatile organic compounds (VOCs), toxic industrial chemicals, amines, and more. The core of Vaporsens' chemical sensor technology is a net of nanofibers approximately one thousand times smaller in size than human hair. Their porous structure allows them to absorb targeted molecules from sampled gas and identify them via changes in their electrical resistance. The technology allows for the rapid detection of target chemicals with high sensitivity in the parts per billion and parts per trillion ranges. The Vaporsens technology has a wide variety of use cases in various markets and industries, with potential applications for automotive, aerospace, agriculture, chemical manufacturing, military and first responders, worker safety, food and beverage processing, and medical. In 2021, the company announced a partnership, in the ordinary course of business, with Simplenight to provide drivers and vehicle occupants with access to enhanced mobile capability for booking personalized entertainment and lifestyle experiences in addition to everyday purchases. Simplenight delivers a customizable and robust platform that enables brands to globally offer real-time book-ability across multiple categories such as dining, accommodations, attractions, events, gas, parking, shopping and more. The platform is unique in that it is designed to seamlessly integrate into automaker infotainment and navigation systems, as well as mobile applications and voice assistants. Simplenight can be integrated into the company's current and future connected vehicle technologies, including HomeLink, the automotive industry's leading car-to-home automation system. HomeLink consists of vehicle-integrated buttons that can be programmed to operate a myriad of home automation devices. Integration of Simplenight into the company's HomeLink Connect app is underway. The HomeLink Connect allows users to program their HomeLink buttons and control cloud-based devices from their vehicles. The company owns acquisition of Guardian Optical Technologies (Guardian), an Israeli startup that pioneered a unique, multi-modal sensor technology designed to provide a comprehensive suite of driver- and cabin-monitoring solutions for the automotive industry. The core of Guardian's technology is an infrared-sensitive, high-resolution camera that combines machine vision, depth perception, and micro-vibration detection. This proprietary sensor configuration allows the system to not only monitor the driver, but also the entire vehicle cabin, including objects and other occupants, even assessing the occupant's behaviors, gestures, and activities. The system continuously scans, tracks and determines the physical location of every vehicle occupant and object, even without a direct line of sight, by combining two-dimensional video image recognition with 3D depth mapping and optical motion analysis. It is able to detect even slight movements, including heartbeats. In 2022, the company obtained an approximate 20% equity share in GreenMarbles, in the ordinary course of business. GreenMarbles is a leading provider of sustainable solutions for integration into properties. The company intends for this relationship to promote the HomeLink Connect App with property developers and contractors. On May 1, 2023, the company announced a partnership, in the ordinary course of business, with Adasky Ltd. (Adasky), a developer and manufacturer of intelligent, high-resolution thermal sensing systems for vehicle safety and perception applications and smart city roadway solutions. In addition to the partnership, the company has obtained an approximate 27% equity share in Adasky. On November 2, 2023, the company acquired certain technology assets from eSight Corporation (eSight), in the ordinary course of business. The technology acquired from eSight provides advanced and versatile low-vision smart glasses for those with visual impairments and is compatible with more than 20 eye conditions, including Macular Degeneration, Diabetic Retinopathy, and Stargardt disease. eSight wearables are inspected and registered by public health officials. Esight 4, which is the fourth generation of the product, is a Class 1 Medical Device that is registered with the FDA, registered with EUDAMED, and inspected by Health Canada. The company has been developing, initially for contract manufacture and as the owner, the technology, referred to as eSightGo. Deliveries of eSightGo to customers are expected to begin in calendar year 2024. On January 8, 2024, the company announced a partnership, in the ordinary course of business, with Solace Power, an innovative wireless power transfer technology company. This collaboration is intended to further develop, manufacture, and commercialize Solace Power's unique wireless power systems for a wide variety of industries. In addition to the partnership, the company obtained an approximate 13% equity share in Solace Power. On January 9, 2024, the company announced the introduction of a suite of smart home safety products with room-specific functionality called PLACE. PLACE offers a holistic solution that blends smart home safety, comfort, and security features into one sophisticated system, all controlled from a single, user-friendly app. The PLACE portfolio of smart-home solutions is designed to address the nuanced safety requirements of various home spaces. The base Any Space unit provides smart smoke and carbon monoxide detection and Wi-Fi connectivity for space-specific alerts. The system's versatility is further demonstrated through specialized units for the kitchen, nursery, and garage, each equipped with additional safeguards like gas and VOC detection, room-monitoring cameras, intercoms, and temperature and humidity sensing, as appropriate to the application. Automotive revenues represent approximately 98% of the company's total revenue in 2023, mostly consisting of interior and exterior electrochromic automatic-dimming rearview mirrors and automotive electronics. The company designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection technologies, including automatic-dimming and non-automatic-dimming rearview mirrors and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry. Automotive Products Automotive Rearview Mirrors and Electronics Automotive applications are the largest business segment for the company, consisting primarily of interior and exterior electrochromic automatic-dimming rearview mirrors and automotive electronics. The company manufactures interior electrochromic automatic-dimming rearview mirrors that darken to reduce glare and improve visibility for the driver. These electronic interior mirrors can also include additional electronic features such as compass, microphones, HomeLink, interior driver and cabin monitoring systems, lighting assist and driver assist forward safety camera systems, various lighting systems, various telematics systems, ITM systems, and a wide variety of displays, including the FDM product. The company also ships interior non-automatic-dimming rearview mirrors with and without features. The company's interior electrochromic automatic-dimming rearview mirrors also power the application of the company's exterior electrochromic automatic-dimming rearview mirrors that darken to reduce glare and improve visibility for the driver. These electronic exterior mirrors typically range in size and shape per automaker specification, but can also include additional features, such as turn signal indicators, side blind zone indicators, and courtesy lighting. The company also ships exterior non-automatic-dimming rearview mirrors with similar electronic features available in its automatic-dimming applications. The company manufactures other automotive electronics products through HomeLink applications in the vehicle, including the rearview mirror, interior visor, overhead console, or center console. Certain of the company's newer features can be located either in the rearview mirror or other locations in the vehicle. Additionally, as the company expands its FDM product and the ITM system, rearward facing video cameras, digital video recording, and integrated toll transponders are being produced and sold. The company produces rearview mirrors and electronics globally for automotive passenger cars, light trucks, pickup trucks, sport utility vehicles, and vans for original equipment manufacturers (OEMs), automotive suppliers, and various aftermarket and accessory customers. Automotive rearview mirrors and electronics accounted for 98% of the company's consolidated net sales in 2023. The company is the leading manufacturer of electrochromic automatic-dimming rearview mirrors in the world, and is the largest supplier to the automotive industry. Competitors for automotive rearview mirrors include Magna International (Magna), Fudi Technology, Aolian, Ultronix, Tokai Rika Company, SMR Automotive, Intertech, Adayo, Sincode, Mike Shanghai, Guangdong Yangfeng Electronic Technology Co. Ltd. Licon, MirrorTech, Amblilight, and Chongqing Yimei. The company also supplies electrochromic automatic-dimming rearview mirrors to certain of these rearview mirror competitors. Automotive Rearview Mirrors and Electronics Product Development The company continually seeks to develop new products and is working to introduce additional advanced-feature automatic-dimming mirrors. Advanced-feature automatic-dimming mirrors being offered by the company include one or more of the following features: SmartBeam, HomeLink, HomeLink Connect, frameless mirror designs, compass displays, telematics, ITM systems, hands free communication, Rear Camera Display (RCD) interior mirrors, FDM interior mirrors, digital video recording solutions, exterior turn signals, side blind zone indicators and various other exterior mirror features that improve safety and field of view. Advanced features in development include biometric authentication systems, hybrid and fully digital camera monitoring systems (CMS), driver and cabin monitoring systems, cabin sensing systems, touch screen displays for mirrors, and digital enhancements to displays to improve driver safety, among other things. Other automotive products in development include large area dimmable devices, which include sunroof and moon roof applications, driver and passenger windows, interior sun-visors and other window surfaces in vehicles, among others. The company is also in development of small-scale dimmable devices that darken to improve contrast and legibility for transparent displays, concealment of sensors, and to dynamically adjust camera exposure. Automotive Rearview Mirrors and Electronics Markets and Marketing In North America, Europe and Asia, the company markets its products primarily through a direct sales force utilizing its sales and engineering offices located in Germany, the U.K., Sweden, France, Japan, South Korea and China, as well as its headquarters in Michigan. The company generally supplies automatic-dimming mirrors and mirrors with advanced electronic features to its customers worldwide under annual blanket purchase orders with customers, as well as under long-term agreements with certain customers, entered into in the ordinary course of the company's business. The company is supplying mirrors and electronic modules for Aston Martin, BMW Group, Daimler Group, Faraday Future, Ferrari, Ford Motor Co., Geely/Volvo, General Motors, Harley Davidson, Honda Motor Co., Hyundai/Kia, Lucid Motors, Mazda, Maruti Suzuki, Mahindra & Mahindra, McLaren, Polaris, Renault/Nissan/Mitsubishi Group, Rivian Automotive, Stellantis, Subaru, Suzuki, Tata Motors, Tesla, TOGG Inc., Toyota Motor Company, Volkswagen Group, VOXX International, as well as shipments to domestic China manufacturers (BYD, Chery, Dongfeng, FAW, Great Wall Motors, Human Horizon, King Long, Lixiang Auto, NIO, SAIC, and Xpeng EV). Historically, new products and technologies have penetrated high-end vehicles and premium trim/option packages to begin. As consumer demand increases for such advanced technologies, more OEMs shift to offer a variety of trim packages and option packages for each of their vehicles, creating a range of available pricing and technologies across their lineups. In some instances, the company's products, such as the FDM appeal to consumers who are interested in new technology, while also resolving rearward vision limitations created by vehicle design changes that increase aerodynamics. The company has contributed to this differentiation strategy, allowing OEMs to maximize profitability and optionality by providing profitable, mirror-based and in-vehicle technologies that consumers demand. Automotive Rearview Mirrors and Electronics In January 2021, the company announced a partnership, in the ordinary course of business, with Simplenight to provide drivers and vehicle occupants with access to enhanced mobile capability for booking personalized entertainment and lifestyle experiences in addition to everyday purchases. Simplenight delivers a customizable and robust platform that enables brands to globally offer real-time book-ability across multiple categories such as dining, accommodations, attractions, events, gas, parking, shopping and more. The platform is unique in that it is designed to seamlessly integrate into automaker infotainment and navigation systems, as well as mobile applications and voice assistants. Simplenight can be integrated into the company's current and future connected vehicle technologies, including HomeLink, the automotive industry's leading car-to-home automation system. HomeLink consists of vehicle-integrated buttons that can be programmed to operate a myriad of home automation devices. Integration of Simplenight into the company's HomeLink Connect app is underway. The HomeLink Connect app allows users to program their HomeLink buttons and control cloud-based devices from their vehicles. In 2022, the company obtained an approximate 20% equity share in GreenMarbles, in the ordinary course of business. GreenMarbles is a leading provider of sustainable solutions for integration into real properties. The company intends for this relationship to promote the HomeLink Connect App with real property developers and contractors. As the company continues to expand its automatic-dimming mirror products with additional advanced electronic features and expands the capabilities of its: CMOS imager technology for additional features (i.e. SmartBeam, FDM, rear video camera, digital video recorder, etc.), hybrid and fully digital CMS technology, and driver and cabin monitoring systems, the company recognizes that it is competing with considerably larger and more geographically diverse electronics companies that present a formidable competitive threat in the future as new products/features and technologies are brought to market. Dimmable Aircraft Windows The company continues to manufacture and sell variable dimmable windows for the passenger compartment on the Boeing 787 Dreamliner series of aircraft. In 2019, the company announced that it would be offering, as optional content, its latest generation of variable dimmable windows on the Boeing 777X aircraft. Later in 2019, the first production shipments of variably dimmable windows were made to Boeing for the 777X program. As previously announced, Airbus is offering, as optional content, the company's dimmable aircraft windows on its aircraft, with production having begun in 2021. Markets and Marketing The company markets its variable dimmable windows to aircraft manufacturers and airline operators globally. Fire Protection Technologies The company manufactures photoelectric smoke detectors and alarms, visual signaling alarms, photoelectric smoke alarms and electrochemical carbon monoxide alarms, electrochemical carbon monoxide alarms and detectors, audible and visual signaling appliances, and bells and speakers for use in fire detection systems in office buildings, hotels, and other commercial and residential establishments. On January 9, 2024, the company announced the introduction of a suite of smart home safety products with room-specific functionality called PLACE. PLACE offers a holistic solution that blends smart home safety, comfort, and security features into one sophisticated system, all controlled from a single, user-friendly app. The PLACE portfolio of smart-home solutions is being designed to address the nuanced safety requirements of various home spaces. The base Any Space unit provides smart smoke and carbon monoxide detection and Wi-Fi connectivity for space-specific alerts. The system's versatility is further demonstrated through specialized units for the kitchen, nursery, and garage, each equipped with additional safeguards like gas and VOC detection, room-monitoring cameras, intercoms, and temperature and humidity sensing, as appropriate to the application. Markets and Marketing The company's fire protection technologies are sold directly to fire protection and security product distributors under its brand name, to electrical wholesale houses, and to OEMs of fire protection systems under both its brand name and private labels. The company markets its fire protection products primarily in North America, but also globally through regional sales managers and manufacturer representative organizations. The company's PLACE products are being sold to retailers. Nanofiber Products and Development The company owns Vaporsens, which specializes in nanofiber chemical sensing research and development. Medical Products and Development In 2020 the company unveiled an innovative lighting technology for medical applications that was co-developed with Mayo Clinic. This new lighting concept represents the collaboration of a global, high-technology electronics company with a world leader in health care. The company's new intelligent lighting system combines ambient room lighting with camera-controlled, adaptive task lighting to optimize illumination for surgical and patient-care environments. The company continues to further develop and work on the intelligent medical lighting system in order to assess system performance and work toward obtaining any necessary approvals. On November 2, 2023, the company acquired certain technology assets from eSight. The technology acquired from eSight provides advanced and versatile low-vision smart glasses for those with visual impairments and is compatible with more than 20 eye conditions including Macular Degeneration, Diabetic Retinopathy, and Stargardt disease. eSight wearables are inspected and registered by public health officials. eSight4 is a Class 1 Medical Device that is registered with the FDA, registered with EUDAMED, and inspected by Health Canada. Deliveries of eSightGo are expected to begin in 2024. Markets and Marketing The company markets and sells the eSight smart glasses directly to consumers that have visual impairments or eye conditions, The company also sells the eSight product through authorized distributors. Trademarks and Patents The company owns 50 U.S. Registered Trademarks and 772 U.S. Patents, of which 40 Registered Trademarks and 641 patents relate to electrochromic technology, automotive rearview mirrors, microphones, displays, cameras, sensor technology, smart lighting technology, and/or HomeLink products. These patents expire at various times between 2024 and 2044. The company also owns 399 foreign Registered Trademarks and 1,458 foreign patents, of which 384 Registered Trademarks and 1,125 patents relate to electrochromic technology, automotive rearview mirrors, microphones, displays, cameras, sensor technology, and/or HomeLink products. These patents expire at various times between 2024 and 2048. The company owns 76 U.S. Patents and 99 foreign patents that relate specifically to its variable dimmable windows. The U.S. Patents expire at various times between 2026 and 2044, while the foreign patents expire at various times between 2027 and 2040. The company owns 10 U.S. Registered Trademarks, 20 U.S. Patents, 15 foreign Registered Trademarks, and 12 foreign patents that relate to its fire protection products. The U.S. Patents expire at various times between 2026 and 2043, while the foreign patents expire at various times between 2026 and 2030. The company also has in process 169 U.S. Patent applications, 257 foreign patent applications, and 35 Registered Trademark applications. The company continuously seeks to improve its core and acquired technologies and apply those technologies to new and existing products. As those efforts produce patentable inventions, it expects to file appropriate patent applications. In addition, the company periodically obtains intellectual property rights, in the ordinary course of its business, to strengthen its intellectual property portfolio and minimize potential risks of infringement. Competition The company's main competitor is Magna Mirrors. History Gentex Corporation was founded in 1974. The company was incorporated as a Michigan corporation in 1974.