NORTHVILLE — Gentherm Inc. (NASDAQ:THRM), the Northville-based developer of thermal management technologies, has been awarded another contract for its new battery thermal management system, a thermoelectric cooling system for batteries used in hybrid and electrified vehicles.
Gentherm said the five-year contract, awarded by an unnamed automotive company, could generate up to $8 million in annual revenue with the first shipments to begin for model year 2018.
The system, designed by Gentherm engineers, is a new product for Gentherm that has a unique capability to provide cooling to various types of batteries including those used in hybrid and electrified vehicles. As future vehicles become more electrified, their batteries need to be actively cooled to ensure a longer service life.
Gentherm announced in July 2015 it had been awarded its first BTM contract by a major automotive manufacturer that could generate up to $25 million in annual revenue. This new award supplements that achievement.
Gentherm automotive products include actively heated and cooled seat systems and cup holders, heated and ventilated seat systems, thermal storage bins, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery thermal management systems, cable systems and other electronic devices. Non-automotive products include remote power generation systems, heated and cooled furniture and other consumer and industrial temperature control applications. The company’s advanced technology team is also developing more efficient materials for thermoelectrics and new systems for waste heat recovery and electrical power generation.
Gentherm has more than 10,000 employees at locations in the United States, Germany, Canada, China, Hungary, Japan, Korea, Macedonia, Malta, Mexico, Ukraine and Vietnam.
More at http://www.gentherm.com.