As you’ve likely heard by now, we’ve announced a co-marketing agreement to develop, sell, and market Laser Beam Scanning technology with STMicroelectronics. Thanks to everyone who has expressed just as much excitement as us!
We will cooperate closely on market development efforts including joint sales and marketing for LBS solutions for markets that are being targeted by both companies: pico projection, automotive HUD and ADAS, 3D sensing, and augmented and virtual reality. In addition, we anticipate combining the process design and manufacturing expertise from ST with our expertise in LBS systems and solutions to explore collaborative options on future technology development, including a joint LBS roadmap.
MicroVision will also pursue patent licensing agreements with the OEMs and ODMs making engines with ST components. We have signed one agreement with a Taiwanese ODM related to this co-marketing relationship. Under the license agreement with the ODM, MicroVision would receive a royalty payment from the ODM for each LBS engine the ODM sells. We are pleased to have signed the license agreement and believe it demonstrates the value of our LBS intellectual property while opening up opportunities for new LBS products in the market.
We’ve established a close working relationship with ST over the past several years – currently, ST manufactures our MEMS mirror and one of our ASICS. As time went on, we uncovered common interests and complementary skills in the LBS ecosystem, so this new partnership was a natural step in our joint effort to support market growth.
ST is a world leader in its field and we’re so pleased to have aligned with them as we continue on our journey of unlocking the vast opportunities for our PicoP® scanning technology.