6/23/2003 6:05:00 AM
BOTHELL, Wash.–(BUSINESS WIRE)–June 23, 2003–Lumera
Corporation, a majority owned subsidiary of Microvision, Inc.
(Nasdaq:MVIS), announced today it has been awarded a new development
contract with a major supplier to U.S. government agencies.
In addition, the company announced that it has finalized a
statement of work for a potential contract with a U.S. government
agency. Final details are now being negotiated and completion of the
contract is expected soon. Details of the contract and statement of
work are confidential.
“This new work relates to advanced optical modulator development
that is synergistic with our ongoing development work on advanced
optical modulators for commercial applications,” said Tom Mino,
Lumera’s CEO. “These new efforts are the direct result of our ability
to provide a tunable range of electro-optic chromophores and
polymers.”
Lumera is developing and commercializing a new class of
electro-optic materials and devices that utilize proprietary polymer
compounds and processing technologies. These new devices and materials
are expected to dramatically improve performance and reduce costs of
electro-optic components for telecommunications, phased array antenna
systems, optical computing, optical signal processing and optical
interconnects. The properties of these materials are expected to
enable new applications in other technologies such as organic light
emitting diode displays, low k dielectrics and coating materials.
About Lumera
A subsidiary of Microvision, Inc., Lumera is a leader in the
development of electro-optic devices based on proprietary optical
polymers. The company plans to deliver superior and unique component
solutions to optical systems suppliers. Lumera plans to supply
standard and custom components to systems providers in multiple
high-growth product categories. Additional information can be found at
Lumera’s Web site at http://www.lumera.com.
About Microvision: www.microvision.com
Headquartered in Bothell, Wash., Microvision Inc. is the developer
of patented scanned beam technology for display and imaging
applications. The company’s technology has applications in a broad
range of military, medical, industrial, professional and consumer
information products.
Microvision has been working with Canon, BMW, Johnson & Johnson’s
Ethicon subsidiary and others to develop a number of display and image
capture product applications based on its proprietary scanned beam
technology. The company also recently concluded a field trial with
America Honda Motor Company for automotive maintenance and repair
applications for its Nomad Augmented Display that achieved a 39%
increase in mechanic productivity. Microvision has also signed an
agreement with NCR to market its Flic laser bar code scanner under a
private label.
Forward Looking Statement
Certain statements contained in this release, including those
relating to potential contracts, expected component performance and
cost reduction, enabling of new application, development plans and
product applications, as well as statements containing words like
“believe,” “expect,” “plans” 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 ability to obtain financing; our
financial and technical resources relative to those of our
competitors; 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; and
other risk factors identified from time to time in the company’s SEC
reports, including in its Annual Report on 10-K for the year ended
December 31, 2002 and its Quarterly Reports on Form 10-Q.
CONTACT: Microvision, Inc. Matt Nichols, 425/415-6657 (Media)
Brian Heagler, 425/415-6794 (Investors)
SOURCE: Microvision, Inc.