Faurecia has become a strategic partner to Promethient, a Traverse City company with a focus on electronic manufacturing, and will hold a position on the company’s Board of Directors. Faurecia is a tier one supplier and leading automotive technology company developing solutions for sustainable mobility and smart life on board.
Promethient recently launched its Thermavance brand of human-scaled climate control technology on March 1, which can be applied to automotive seating, medical devices, personal garments, and furniture. Thermavance currently serves as Promethient’s main product offering.
“The Thermavance technology is a prime example of the revolutionary products Promethient is producing for the automotive industry and beyond,” says Eric De La Gironière, President of Faurecia Ventures. “Our involvement with Promethient is a natural fit as it relates to automotive seating and supports Faurecia’s solutions to enhance health and wellness of all occupants and make vehicles more comfortable.”
In conjunction with the investment, Faurecia has announced that Nik Endrud, Vice President for Strategy and Innovation, will join Promethient’s Board of Directors.
Thermavance heats and cools through conductive heat transfer, rather than convective heat transfer, offering significantly higher efficiency than current technology. While most of today’s vehicles are equipped with heated and/or cooled seats, they rely on convective heat transfer, meaning they must first heat or cool air in order to heat or cool the vehicle occupants.
“Our Thermavance system personalizes climate control while saving energy. These are key considerations for automakers and are especially important in the growing electric vehicle segment,” says William Myers, CEO of Promethient. “The partnership with Faurecia represents a significant step for us within the automotive industry and clearly demonstrates the value of Thermavance within the marketplace.”
Terms of the deal are not being disclosed.
For more information, visit www.thermavance.com.
Founded in 2012 by Chief Technology Officer, Charles Cauchy, Promethient designs and produces Thermavance, a human-scaled climate control technology that is adaptable, connected, and designed for use in transportation and recreational vehicles, medical devices, specialized garments, and furniture. Early investors in Promethient include Boomerang-Catapult and the Northern Michigan Angels.
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 290 sites including 30 R&D centers and 109,000 employees in 35 countries, Faurecia is now a global leader in its three areas of business: automotive seating, interior systems, and clean mobility. Faurecia has focused its technology strategy on providing solutions for smart life on board and sustainable mobility. In 2017, the Group posted total sales of €20.2 billion and value-added sales of €17.0 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index.
—Press release provided by Promethient