Movella Holdings Inc.

HENDERSON, NV / ACCESSWIRE / June 1, 2023 / Movella Holdings Inc. (NASDAQ:MVLA), a leading full-stack provider of sensors, software, and analytics that enable the digitization of movement, is assisting automotive manufacturers in the continued improvement of employee safety and wellness. The BMW Group utilizes Movella's motion capture technology to easily perform realistic ergonomic evaluations of production workers with higher precision and reliability.

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In the United States, the costs of overexertion and repetitive motion to the automotive industry were estimated at $18 billion in 2019. The SERA (Safety & Ergonomic Risk Assessment) tool was designed by the BMW Group and uses scientifically validated methods for whole-body workplace ergonomic assessments. Conventional ergonomic risk assessments can, however, be time consuming and subjective. This further led the BMW Group to develop DWSM (Digital Workplace Stress Management), a system to capture workplace ergonomic assessments digitally. The BMW Group selected Movella's workplace ergonomics solution with the MVN Awinda® motion capture system and MVN Analyze® proprietary software to provide faster, objective workplace ergonomic assessments across all international production facilities.

Motion capture tools provide information about the physical stresses of employees while they work on the production lines. When the data indicates increased ergonomic stresses, changes are made to the workplace to reduce physical stress. DWSM enables comparability, uniformity, and compatibility across BMW Group production facilities.

"Movella is proud to see its tools being used for a uniform, informed approach to automotive safety," said CJ Hoogsteen, VP Sales at Movella. "The BMW Group's development of DWSM demonstrates a commitment to cultivating responsible working practices across the industry."

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About Movella Holdings Inc.

Movella is a leading full-stack provider of sensors, software, and analytics that enable the digitization of movement. Movella serves the entertainment, health & sports, and automation & mobility markets. Our innovations enable customers to capitalize on the value of movement by transforming data into meaningful and actionable insights. Partnering with leading global brands such as Electronic Arts, EPIC Games, 20^th Century Studios, Netflix, Toyota, Siemens and over 500 sports organizations, Movella is creating extraordinary outcomes that move humanity forward. To learn more, please visit www.movella.com.

Cautionary Statement Regarding Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of federal securities laws. The words "accelerate," "anticipate," "believe," "continue," "could," "enable," "estimate," "expect," "extend," "fuel," "future," "growth," "intend," "may," "might," "opportunity," "outlook," "plan," "position," "possible," "potential," "predict," "progress," "project," "realize," "see," "seem," "should," "will," "would," and similar expressions, or the negative of such expressions, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the following: Movella's management team's expectations, hopes, beliefs, intentions or strategies regarding the future and the company's competitive position; the potential impact of the merger on Movella and its business, including allowing Movella to continue to rapidly scale its business and further invest in market-leading movement capture and digitization solutions; the potential benefits and expectations related to the terms of the FP financing, including but not limited to, the sale of FP-purchased stock and repayment of the note; the ability of Movella's solutions to enable real-time digitized movement in the emerging high-growth areas of the Metaverse, next-generation gaming, live streaming and other applications; the anticipated use of capital raised from the transaction to further scale and grow the business; the belief that Movella's proprietary technology, scalable business model, and experienced leadership team will position Movella to extend its leadership position and continue to deliver innovations that drive the industry; the anticipated or potential features, benefits, and applications for Movella's products and technology and timing thereof; the market opportunity for Movella's products and technology; or other characterizations of future events or circumstances, including any underlying assumptions. These statements are based on the current expectations of Movella's management and are not predictions of actual performance and as such, are provided for illustrative purposes only. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Movella's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: (i) failure to realize the anticipated benefits of the merger ; (ii) general economic conditions and Movella's financial performance; (iii) changes adversely affecting the businesses in which Movella is engaged; (iv) Movella's ability to execute on its business strategy and plans and to manage growth; and (v) risks related to regulatory matters, as well as the factors described under the headings "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the final prospectus filed with the Securities and Exchange Commission (the "SEC") pursuant to Rule 424(b)(3) by Pathfinder on January 17, 2023 and in those documents that Movella will file with the SEC in the future. If any of these risks materialize or the underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Movella presently knows or 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 expectations, plans or forecasts of future events and views as of the date of this press release. Movella anticipates that subsequent events and developments will cause its assessments to change. However, while Movella may elect to update these forward-looking statements at some point in the future, Movella specifically disclaims any obligation to do so, except to the extent required by applicable law. These forward-looking statements should not be relied upon as representing Movella's assessments as of any date subsequent to the date of this press release and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts

Media
media@movella.com
+31-88-9736700

Movella Ergonomics
https://www.movella.com/applications/health-sports/workplace-ergonomics

SOURCE: Movella Holdings Inc.

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