12/30/2003
BOTHELL, Wash.–(BUSINESS WIRE)–Dec. 30, 2003–Lumera
Corporation, a majority owned subsidiary of Microvision, Inc.
(Nasdaq:MVIS), has been awarded a second contract extension for an
additional $950,000 from a U.S. government agency to continue
development of high-performance electro-optic polymer materials and
devices for wideband optical modulators. The award brings the total
funding for development work from this agency to about $3.5 million.
The third stage in this contract is expected to be completed
within a year and is an important step in moving toward the potential
for high volume modulator sales for government applications.
“We are very pleased to be continuing our materials and device
development work to meet the needs of this agency,” said Tom Mino,
Lumera’s CEO. “The work is also an excellent fit with our longer term
objectives to provide high-speed, low power, wideband modulators for
commercial applications such as optical networks, broadband over
cable, and optical interconnects. The materials development work will
also enhance our beam steering capabilities for high-performance
antenna systems.”
About Lumera: http://www.lumera.com/
Lumera, a majority owned subsidiary of Microvision, Inc., is an
emerging leader in the field of nanotechnology. The company designs
proprietary molecular structures and polymer compounds for a broad
range of electro-optic, RF and specialty coating applications. The
company also develops high performance RF and electro-optic devices
based on its materials technology, and has developed proprietary
processes for fabricating such devices.
Devices based on Lumera’s new materials may dramatically improve
the performance and reduce the costs of smart antenna systems for the
full range of wireless communications markets, and may provide similar
improvements for electro-optic components for telecommunications,
optical computing, optical signal processing and optical
interconnects. The company has also developed materials and process
techniques that may simplify and improve the production of Organic
Light Emitting Diode (OLED) flat panel displays. The properties of
these materials have also shown promise for application in coating
materials used in wafer processing for semiconductor fabrication and
in bioassay systems. Lumera expects to sell and license its technology
in a variety of forms, including custom polymer materials, coated
wafers, and discrete and integrated component devices, both packaged
and unpackaged.
About Microvision: www.microvision.com
Headquartered in Bothell, Wash., Microvision, Inc. is a world
leader in the development of high resolution displays and imaging
systems based on the company’s proprietary silicon micromirror
technology. The company’s technology has applications in a broad range
of military, medical, industrial, professional and consumer products.
Microvision has been working with Canon, BMW, the Electronics
Research Lab of Volkswagen of America and others to develop a number
of display and image capture-product applications based on its
proprietary scanned beam technology.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those
relating to materials and product development, future sales and
licensing, as well as statements containing words like “believe,”
“anticipate,” “estimate,” “intend,” “will,” “seek,” “look-forward,”
“expect,” and other similar expressions, are forward-looking
statements that involve a number of risks and uncertainties. Factors
that could cause actual results to differ materially from those
projected in the company’s forward-looking statements include the
following: market acceptance of our technologies and products, our
financial and technical resources relative to those of our
competitors; our ability to obtain financing, our ability to keep up
with rapid technological change, government regulation of our
technologies; our ability to enforce our intellectual property rights
and protect our proprietary technologies; the ability to obtain
additional contract awards and to develop partnership opportunities;
the timing of commercial product launches; the ability to achieve key
technical milestones in key products; dependency on advances by third
parties in certain technology used by us and other risk factors
identified from time to time in the company’s SEC reports, including
in its Prospectuses filed pursuant to Rule 424(b) on November 3, 2003,
its Annual Report on 10K for the year ended December 31, 2002 and its
Quarterly Reports on Form 10-Q.
CONTACT: Lumera Corporation
Matt Nichols (media), 425/415-6657
or
Brian Heagler (investors), 425-415-6794
SOURCE: Lumera Corporation