Sonomax Technologies Inc. (SHH:TSX Venture Exchange) is pleased to announce that it has signed a Term Sheet with Brazil based Solar Ear. Under the terms of the agreement, Sonomax will adapt it's V4 earmold so that it can be paired with Solar Ear's BTE (Behind-the-ear) hearing aids and supported by Solar Ear's unique solar chargers. The hearing aids resulting from the marriage of these leading edge technologies will be for distribution throughout the developing world.
Solar Ear Brazil is a hearing aid company that manufactures, assembles and distributes the first digital solar rechargeable hearing aid. In addition to Brazil, Solar Ear has operations in Botswana, Mexico and Jordan, with plans to add six more facilities in strategic geographical locations which will be able to service on a duty free basis over 60 countries and 1.2 billion consumers.
Said Howard Weinstein, Solar Ear's founder, "All products are assembled by young employees who are deaf. By developing practical technologies for the region and creating employment, training and education programs, Solar Ear is a sustainable professional enterprise that affects the way civil society views the skills of people with disabilities."
Mr. Weinstein added, "The incorporation of a mass producible, affordable, instant custom earmold into our solution could very well be the game changer that makes possible the delivery of affordable hearing aids to the millions of hearing impaired people in the developing world who need them. The World Health Organization (WHO) estimates that there are 278 million hearing impaired people in developing countries and that there is a need for 35 million affordable hearing aids per year in this market."
Said Sonomax CEO Nick Laperle, "Getting started in this grossly under serviced market with a forward thinking Social Entrepreneur like Mr. Weinstein represents a wonderful opportunity for Sonomax. Solar Ear's solar charged hearing aids are already significantly less expensive than those being sold in the developed world. Bringing the V4 earmold into the equation will translate to affordability for the millions who so desperately need them."
SONOMAX TECHNOLOGIES INC.