Setterwalls has assisted Gapwaves AB in entering into an exclusive licensing and development agreement with Hella GmbH & Co. KGaA, one of the largest manufacturers of radar for the automotive industry. As part of the agreement, Hella will invest MSEK 182 in Gapwaves covering 10 % of Gapwaves' capital.
The license agreement on corner and side radar gives Hella an exclusive right to use Gapwaves’ patented technology for waveguide-based antennas. Gapwaves will further cooperate with Hella in the development of antennas for radar with a predicted start of production in 2024. Under the agreement, Hella will invest MSEK 182 in Gapwaves in a directed new issue of 3,100,000 B shares covering 10 % of Gapwaves' capital.