PR92587

QINGDAO, China and YEHUD, Israel, Oct. 27, 2021 /PRNewswire=KYODO JBN/ --

The Joint Venture partnership will initially focus on providing touchless fall

detection for seniors as well as expanding Vayyar's activities in the Chinese

market

- HCH, a subsidiary of Haier, signs Joint Venture agreement with Israeli

technology provider, Vayyar, aiming to address the 4 trillion yuan (625B USD)

"silver tech" market in China

- Haier's senior-oriented IoT and smart home products to be based on Vayyar's

award-winning technology that supports fall detection and monitored wellbeing

for leading Chinese eldercare communities and their insurers

- Vayyar's unique camera-free radio frequency solution provides 24/7 protection

for seniors in all settings, while maintaining privacy at all times

- Touchless sensors overcome the limitations of traditional fall alert devices

which require users to push buttons, pull cords, or put on wearables

HCH, a subsidiary of Haier, has partnered with Vayyar, the Israeli high-tech

company and global leader in RF imaging, to create a new IoT ecosystem built

around the world's most advanced touchless sensor technology. Haier's huge

marketing presence in China will enable Vayyar to expand its footprint and

offer disruptive RF imaging-based products that will define the standard of

care in China.

The strategic relationship has been initially established to benefit rapidly

aging populations in China and beyond, for whom falling is a leading cause of

injury and premature mortality. Around 120 million Chinese seniors live alone

and by 2040, there will be 402 million people aged 60 or older in China. The

deal allows Haier, the world's leading major appliance brand, to serve a

Chinese "silver tech" TAM (Total Addressable Market) worth over 4 trillion yuan

(625B USD).

"Cutting-edge imaging sensor technology can keep elderly loved ones safe,

enhance security, and boost energy-efficiency, and I see exceptional

opportunities for strong, sustainable synergy moving forward", said Liu

Changwen, the General Manager of HCH Ventures, the Haier subsidiary leading

this Joint Venture. "The JV is a remarkable milestone for HCH's cross-border

dual-core incubator."

"Vayyar is excited to partner with HCH to deliver best-in-class fall detection

that will make China the world leader in protecting the elderly, while

respecting their privacy and independence," said Raviv Melamed, Vayyar

Co-founder and CEO. "Haier's innovative IoT and smart home devices will improve

quality of life and longevity for older adults, aligning perfectly with

Vayyar's vision and the capabilities of our technology."

"Through its office in Israel, HCH has been tracking Vayyar's RF imaging

System-on-Chip performance for over two years and this is a very exciting

moment for both companies who have now joined forces. We are eager to work

together to set the standards for a smarter and a safer living environment for

seniors in China," said Daniel Oleiski, the CEO of Haier Israel and HCH

Ventures IL.

Supported by and in partnership with Vayyar, Haier will now leverage its global

network of R&D centers, global reach, robust sales channels, and strong supply

chains to define the eldercare and smart home sectors for decades to come.

Media assets are available to download from: here. [https://drive.google.com/drive/folders/1CekvfqDtbX6updnfaIysrzvT9aSWLdcx?usp=sharing]

The video is also available on YouTube here. [https://www.youtube.com/watch?v=NZwdvmsk_Mg ]

About Haier

The Haier Group Corporation is a Chinese multinational home appliances

[https://en.wikipedia.org/wiki/Multinational_corporation ] and consumer

electronics[ https://en.wikipedia.org/wiki/Consumer_electronics ] company

headquartered in Qingdao,[ https://en.wikipedia.org/wiki/Qingdao ] Shandong.

[https://en.wikipedia.org/wiki/Shandong ] It designs, develops, manufactures and

sells products including refrigerators,[https://en.wikipedia.org/wiki/Refrigerator ]

air conditioners,[https://en.wikipedia.org/wiki/Air_conditioners ]

washing machines,[https://en.wikipedia.org/wiki/Washing_machine ] tumble dryers,

ovens,[https://en.wikipedia.org/wiki/Microwave_oven ] etc. The home appliances

business, namely Haier Smart Home, operates via a number of global brands

including Haier, Casarte, Leader, GE Appliances,[https://en.wikipedia.org/wiki/GE_Appliances ]

Fisher & Paykel,[https://en.wikipedia.org/wiki/Fisher_%26_Paykel ]

Aqua and Candy.[https://en.wikipedia.org/wiki/Candy_(company) ]

About HCH Ventures

HCH Ventures is an entrepreneurial platform created by Haier Group for global

entrepreneurs. Since its inception in 2014, HCH already encompasses 40

accelerators in 12 countries around the world and over 350 accelerated projects

with a total valuation of more than 200 billion RMB. "HCH Ventures" was

shortlisted in the "Top 500 Chinese Brand Values", and its brand value was

ranked first in the incubation and the acceleration category.

About Vayyar Imaging

Vayyar, the leader in RF imaging technology, has created the world's most

advanced System-on-Chip platform to gather life's essential data, providing

solutions for senior care, automotive, retail, security and more, while

maintaining privacy at all times. Vayyar's mission is to deliver the next

generation of sensing technology that is miniature, affordable, and versatile

enough to impact everyone's lives, enabling a safer world.

https://vayyar.com/

Video: https://www.youtube.com/watch?v=NZwdvmsk_Mg

Photo - https://mma.prnewswire.com/media/1670221/Vayyar_Home.jpg

Source: Vayyar