SOURCE: KEMET Corporation

KEMET Corporation

SOURCE: Novasentis Inc.

Novasentis Inc. Logo

April 14, 2016 08:30 ET

KEMET and Novasentis Collaborate to Produce Haptic Actuators

Flexible Haptic Actuator Aimed at Wearable Devices

GREENVILLE, SC and BURLINGAME, CA--(Marketwired - April 14, 2016) -  KEMET Corporation (NYSE: KEM), a leading global supplier of electronic components and Novasentis Inc., the leading developer of haptic and sensory feedback technology for wearable devices, together, announced a collaboration to develop next generation Electro-Mechanical Polymer (EMP) film based haptic actuators for wearable devices. Novasentis will provide the core technology and haptic actuator film whereas KEMET will develop the manufacturing process for the final assembly.

The two companies have been working together for several months and have targeted production prototype delivery in the summer of 2016, with plans for production starting in early 2017.

"Our expertise in film-based capacitor manufacturing is a perfect match for the needs of the Novasentis haptic technology. We will be able to use our existing manufacturing lines to develop mass production quantities of actuators," said Dr. Philip Lessner, Senior Vice President and CTO at KEMET. "The collaboration with Novasentis allows KEMET to further its reach into emerging markets including wearables."

This collaboration is aimed at providing the most advanced haptic technology in the world with the assurance of supply that KEMET is known for. The EMP film actuators act as a second skin for devices, capable of providing meaningful localized haptic and audio feedback for hundreds of uniquely distinct alerts. These haptic actuators are much thinner, lighter, and a more powerful alternative to other whole-body haptic solutions using outdated buzzy motors or high-voltage benders. This technology is already being designed into wearable devices by OEMs.

"Our partnership with KEMET allows Novasentis to focus on technology development and leverage world class manufacturing to support consumer electronics companies worldwide," said Francois Jeanneau, President and CEO of Novasentis. "Our haptic technology offers a unique value proposition which has been validated by OEMs designing next generation wearable devices."

Together, KEMET and Novasentis are working to create unrivaled market-leading technology and high volume availability of sensory-rich haptic components to the wearable device market.

About Novasentis

Novasentis is the leading supplier of the world's thinnest and most flexible polymer-based actuator technology. The patented electro-mechanical polymer (EMP) technology and products are ideal for creating rich haptic feedback and a completely new user experience for ultra-thin, portable consumer electronics including Wearables, mobile devices and accessories. The versatile technology also has novel applications in industries such as medical and automotive. Founded in 2006, Novasentis is privately held and headquartered in Burlingame, Calif. with advanced manufacturing facilities in State College, Penn. More information on Novasentis is available at www.novasentis.com.

About KEMET

KEMET Corporation is a leading global manufacturer of electronic components that meet the highest standards for quality, delivery and service. The company offers its customers the broadest selection of capacitor technologies in the industry across all dielectrics, along with an expanding range of electromechanical devices, electromagnetic compatibility solutions and supercapacitors. KEMET's corporate headquarters are in South Carolina; the company also operates manufacturing facilities, sales and distribution centers around the world. KEMET's common stock is listed on the NYSE under the symbol "KEM." Additional information about KEMET can be found at www.kemet.com.

Cautionary Statement on Forward-Looking Statements

Certain statements included herein contain forward-looking statements within the meaning of federal securities laws about KEMET Corporation's (the "Company") financial condition and results of operations that are based on management's current expectations, estimates and projections about the markets in which the Company operates, as well as management's beliefs and assumptions. Words such as "expects," "anticipates," "believes," "estimates," variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The Company undertakes no obligation to update publicly any of these forward-looking statements to reflect new information, future events or otherwise.

Certain risks and uncertainties that could cause actual outcome and results to differ materially from those expressed in, or implied by, these forward-looking statements are described in the Company's reports and filings with the Securities and Exchange Commission.

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