MIPS AB (publ): MIPS comments communication from Bontrager regarding new technology in some of its helmet models

Due to the significant interest among investors and the impact on MIPS' share price as a result of information in media about bike gear company Bontrager's new helmets equipped with a new helmet technology called "WaveCel", MIPS has elected to comment on the market situation.

MIPS is specialized in helmet-based security and protection of the brain and is a world leader in this field. MIPS Brain Protection System (BPS) is designed to add protection in helmets against rotational motion. Rotational motion is a combination between rotational energy (angular velocity) and rotational forces (from angular acceleration). This rotational motion results in shearing and/or stretching of the brain tissue, which affects the brain and increases the risk of brain injuries from impacts.

"We at MIPS assess that it generally is positive with an increased awareness about the need for protective helmet technologies to avoid brain injuries and that it is completely in line with expectations that different technical solutions continuously come up, intending to increase security among helmet users, particularly in parallel with the increasing impact that MIPS has had the past years among helmet brands and consumers.", says Johan Thiel, CEO of MIPS AB.

"We continue to be convinced that the protection against rotational motion that MIPS BPS offers combined with our business model as an ingredient brand with an integrated technology in a wide range of different helmet brands, the simplicity to integrate the MIPS technology in different helmet models as well as the long-term research capabilities of MIPS within the field represent a significant strength which is unique to MIPS. Bontrager continues to be a partner to MIPS that also works with MIPS' technology in some of its helmet models. I continue to be as convinced as before about our future and our ability to deliver on our long-term financial targets that we have established as a group.", concludes Johan Thiel.