HOD HASHARON, Israel, Sept. 18,
2023 /PRNewswire/ -- Valens Semiconductor (NYSE:
VLN), a premier provider of high-performance connectivity solutions
for the audio-video and automotive markets, today released its
second annual Environmental, Social and Governance (ESG) Report.
The 2022 Report details the company's progress, commitment, and
approach as it looks to advancing a sustainable future.
Valens Semiconductor's mission is to innovate and develop
cutting-edge products for the automotive and audio-video markets
that can power resilient, high-performance connectivity over simple
low-cost infrastructure. In automotive, Valens Semiconductor
addresses key issues that can save lives and reduce overall harness
weight in cars. Our audio-video chips are critical to corporations
and education systems that want to deliver equitable access to all
participants regardless of location, weather conditions or other
circumstances. They also contribute to healthcare systems and
enable command and control centers that improve the safety of
public transportation among other benefits.
"We are pleased to share Valens Semiconductor's second annual
ESG report, which provides an update on our ongoing commitment to
our key ESG initiatives and the progress we achieved in 2022," said
Gideon Ben Zvi, CEO of Valens
Semiconductor. "Our high-performance connectivity chipsets are
designed to propel socially and environmentally responsible growth.
We are proud to be part of our customers' ESG-related projects,
such as the Mercedes-Benz Battery Electric Vehicles (BEV)
initiative, having our chips also being deployed in their EQx
Electric Vehicle (EV) models. We also continued to advance towards
integrating our chipsets into safety systems for tractor-trailers
and passenger cars. Remote and hybrid work and education models
require equipping spaces with the proper audio-video distribution
solutions to foster equity, increase efficiency, and accommodate a
better in-room experience for both small and large groups. At
Valens Semiconductor, we work across the value chain to implement
our sustainable design principles, improve environmental
performance, and raise sustainability awareness."
Moshe Lichtman, Chairman of
Valens Semiconductor Nominating, Governance, and Sustainability
Committee, added, "Our 2022 ESG Report demonstrates our continued
improvement and highlights our commitment to responsible and
transparent corporate governance while continuing to grow our
business. We look forward to continuing our dialogue with
shareholders, customers and partners on further progress, as we
push the boundaries of connectivity to make the world a better
place for our employees, customers, suppliers, investors and
communities."
The report can be found at the Valens Semiconductor ESG Report
page.
About Valens Semiconductor
Valens Semiconductor is a leader in high-performance
connectivity, enabling customers to transform the digital
experiences of people worldwide. Valens' chipsets are integrated
into countless devices from leading customers, powering
state-of-the-art audio-video installations, next-generation
video-conferencing, and enabling the evolution of ADAS and
autonomous driving. Pushing the boundaries of connectivity, Valens
sets the standard everywhere it operates, and its technology forms
the basis for the leading industry standards such as HDBaseT® and
MIPI A-PHY. For more information, visit
https://www.valens.com/.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding our anticipated future results, including
financial results, currency exchange rates, and contract wins, and
future economic and market conditions. These statements are based
on various assumptions, whether or not identified in this press
release, and on the current expectations of Valens Semiconductor's
("Valens") management and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Valens
Semiconductor.
These forward-looking statements are subject to a number of
risks and uncertainties, including the cyclicality of the
semiconductor industry; the effect of inflation and a rising
interest rate environment on our customers and industry; the
ability of our customers to absorb inventory; the effects of health
epidemics, such as the recent global COVID-19 pandemic; the impact
of the global pandemic caused by COVID-19 on our customers' budgets
and on economic conditions generally, as well as the length,
severity of and pace of recovery following the pandemic;
competition in the semiconductor industry, and the failure to
introduce new technologies and products in a timely manner to
compete successfully against competitors; if Valens fails to adjust
its supply chain volume due to changing market conditions or fails
to estimate its customers' demand; disruptions in relationships
with any one of Valens' key customers; any difficulty selling
Valens' products if customers do not design its products into their
product offerings; Valens' dependence on winning selection
processes; even if Valens succeeds in winning selection processes
for its products, Valens may not generate timely or sufficient net
sales or margins from those wins; sustained yield problems or other
delays in the manufacturing process of products; our ability to
effectively manage, invest in, grow, and retain our sales force,
research and development capabilities, marketing team and other key
personnel; our ability to timely adjust product prices to customers
following price increase by the supply chain; our ability to adjust
our inventory level due to reduction in demand due to inventory
buffers accrued by customers; our expectations regarding the
outcome of any future litigation in which we are named as a party;
our ability to adequately protect and defend our intellectual
property and other proprietary rights; the market price and trading
volume of the Valens ordinary shares may be volatile and could
decline significantly; political, economic, governmental and tax
consequences associated with our incorporation and location in
Israel; and those factors
discussed in Valens' Form 20-F filed with the SEC on March 1, 2023 under the heading "Risk Factors,"
and other documents of Valens filed, or to be filed, with the SEC.
If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that Valens does not presently know or that Valens
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect Valens'
expectations, plans or forecasts of future events and views as of
the date of this press release. Valens anticipates that subsequent
events and developments may cause Valens' assessments to change.
However, while Valens may elect to update these forward-looking
statements at some point in the future, Valens specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing Valens' assessment as of
any date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
Media Contact:
Yoni Dayan
Head of Communications
Valens Semiconductor Ltd.
Yoni.dayan@valens.com
Investor Contacts:
Daphna Golden
Vice President Investor Relations
Valens Semiconductor Ltd.
investors@valens.com
Margaret Boyce
Financial Profiles, Inc.
Valens@finprofiles.com
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SOURCE Valens Semiconductor