SOLACE POWER INC. ANNOUNCES PARTNERSHIP WITH GENTEX CORPORATION WITH SUPPORT FROM CLARITI STRATEGIC ADVISORStm

MOUNT PEARL, NL, Jan. 17, 2024 /CNW/ - Solace Power, a world leader in high performance wireless power technology is delighted to announce a strategic partnership with Gentex Corporation (NASDAQ: GNTX) ("Gentex"), a leading supplier in electro-optical products for the global automotive, aerospace and fire protection industries.

Solace Power's wireless power technology will enable Gentex to deliver integrated design solutions into next generation of vision, sensing, connectivity and dimmable glass automotive applications and a wide variety of other industry solutions. The partnership with Gentex, together with Gentex's strategic investment in Solace Power, will enable Solace Power to scale up its team, research and development efforts, manufacturing, and commercialization of its products.

Clariti Strategic Advisors Inc. ("Clariti"), a Toronto-based strategic and financial advisory firm, acted as Solace Power's long term exclusive strategic and financial advisor, including in connection with Solace Power's partnership agreement with Gentex.

Neil Chaulk, Chief Executive Officer of Solace Power said: "Clariti's strategic and financial advisory expertise has significantly contributed to our progress, particularly in establishing important partnerships like our collaboration with Gentex. We are grateful for their unwavering support."

Rahul Suri, Founder and Managing Partner of Clariti said: "We are huge believers in Neil Chaulk and the entire team at Solace Power and the company's technology. Solace Power's expertise in wireless power and data transfer technology has been recognized to have unique and flexible design features that customers of both Gentex and Solace Power will benefit from. It has been and continues to be an honour to support Solace Power with its corporate strategy and capital options, and we are pleased to see this exciting partnership come together with Gentex."

Established in 2007, Solace Power based in Mount Pearl, NL specializes in crafting cutting-edge wireless power-based solutions featuring proximity sensing and data, redefining industry standards. Their patented technology provides industrial-grade, decoupled power for a world of previosly unachievable applications in a broad spectrum of industries. To learn more about Solace's wireless power solutions, please visit www.solace.ca.

Clariti Strategic Advisorstm is an investment banking and strategic advisory firm that provides unsurpassed insight, creativity, integrity and value to its clients. For further information, please visit www.claritiadvisors.com.

SOURCE Solace Power