ROCHESTER, N.Y., May 14, 2019 /PRNewswire/ -- Vuzix®
Corporation (NASDAQ: VUZI), ("Vuzix" or the "Company"), a leading
supplier of Smart Glasses and Augmented Reality (AR) technology and
products, and Plessey, a leading developer of advanced
optoelectronic technologies, today announced an exclusive display
device design and long-term supply agreement. This agreement will
support the development and production of next-generation AR
products and solutions that combine Plessey's microLED light source
technology with Vuzix' extensive expertise and IP in smart glasses
and essential optics technologies.
Vuzix has already developed an evolving family of Smart Glasses
culminating in the Vuzix Blade, the next generation smart display
with a see-through viewing experience via its proprietary waveguide
optics. Formed from glass with precision nanostructures, the
waveguide enables users to see high-resolution computer-generated
graphics, images and information superimposed over images from the
physical or real world.
Plessey's microLED solution will significantly simplify existing
smart glasses' complex optical system of red, green and blue light
sources and their additional optics by replacing it with a single
self-emitting display which has integrated micro-optical elements.
Size, weight and power reduction are key considerations in the AR
wearables market. Existing light source systems have considerable
losses all the way through to the waveguide and the optical systems
around them are bulky and complex, whereas an emissive microLED has
very simple optical requirements, allowing for a much smaller
footprint with minimal system losses by placing the light source
directly in front of the waveguide.
"We are very excited to expand our relationship with Plessey.
Their microLED technology represents a key part of the solution
needed to bring the form and functionality of Vuzix next generation
smart glasses to the look and feel of fashion forward glasses,
solutions the world will be clamouring for," said Paul Travers, President and Chief Executive
Officer at Vuzix.
"By overcoming the difficulties of manufacturing
microLEDs on a commercial scale, Plessey is playing a central role
in providing next-generation technology to the Augmented Reality
(AR) and display markets," stated Mike
Lee, President of Corporate and Business Development at
Plessey.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented
Reality (AR) technologies and products for the consumer and
enterprise markets. The Company's products include personal display
and wearable computing devices that offer users a portable
high-quality viewing experience, provide solutions for mobility,
wearable displays and augmented reality. Vuzix holds 153 patents
and patents pending and numerous IP licenses in the Video Eyewear
field. The Company has won Consumer Electronics Show (or CES)
awards for innovation for the years 2005 to 2019 and several
wireless technology innovation awards among others. Founded in
1997, Vuzix is a public company (NASDAQ: VUZI) with offices in
Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit
Vuzix website, Twitter and Facebook pages.
About Plessey
Plessey is an award-winning provider of full-field emissive
microLED displays that combine very high-density RGB pixel arrays
with high-performance CMOS backplanes to produce very
high-brightness, low-power and high-frame-rate image sources for
head-mounted displays (HMDs), and augmented reality (AR) and
virtual reality (VR) systems. Plessey operates leading-edge 150mm
and 200mm wafer processing facilities to undertake design, test and
assembly of LED products, and a comprehensive suite of photonic
characterization and applications laboratories. For more
information, visit Plessey's website, Twitter, Facebook and
LinkedIn pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are
"forward-looking statements" within the meaning of the Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws. Forward looking statements contained in this release relate
to our business relationship with Plessey, and among other things
the Company's leadership in the Smart Glasses and AR display
industry. They are generally identified by words such as
"believes," "may," "expects," "anticipates," "should" and similar
expressions. Readers should not place undue reliance on such
forward-looking statements, which are based upon the Company's
beliefs and assumptions as of the date of this release. The
Company's actual results could differ materially due to risk
factors and other items described in more detail in the "Risk
Factors" section of the Company's Annual Reports and MD&A filed
with the United States Securities and Exchange Commission and
applicable Canadian securities regulators (copies of which may be
obtained at www.sedar.com or www.sec.gov). Subsequent events and
developments may cause these forward-looking statements to change.
The Company specifically disclaims any obligation or intention to
update or revise these forward-looking statements as a result of
changed events or circumstances that occur after the date of this
release, except as required by applicable law.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor
Relations, Vuzix Corporation ed_mcgregor@vuzix.com Tel: (585)
359-5985
Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
Contact for Plessey company information:
Sam Langridge, Marketing Manager,
sam.langridge@plesseysemi.com
Tel: +44 1752 693 000
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SOURCE Vuzix Corporation