10/10/2006 9:03:00 AM
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Business Editors/Technology Writers
REDMOND, Wash.–(BUSINESS WIRE)–Oct. 10, 2006–Microvision, Inc.
(Nasdaq:MVIS), the leader in light scanning technologies for display
and imaging products, formally announced today its strategic
technology development relationship with the Fraunhofer Institute for
Photonic Microsystems (IPMS). Microvision and Fraunhofer IPMS have
been engaged for several years in the development of MEMS scanning
mirrors optimized for several large-volume display and imaging
applications. Microvision is the exclusive commercial partner of
Fraunhofer IPMS for 2D MEMS scanners targeted for display and certain
imaging applications.
The development relationship with Fraunhofer IPMS augments
Microvision’s world-leading expertise in the design and production of
MEMS scanning mirrors and positions Microvision to supply a variety of
scanning solutions to its partners. MEMS scanners are a key component
to Microvision’s Integrated Photonics Module (IPM(TM)) platform, which
is expected to deliver miniature display engines for mass market OEM
applications, such as a full-color projection display embedded into a
mobile phone. Fraunhofer IPMS is an internationally recognized
research and development institute for MEMS.
“We are very pleased to formally announce that Microvision and
Fraunhofer have been, and continue to be, engaged in a very fruitful
research partnership that has yielded strong technical results and
provides exciting new product avenues for the company to exploit,”
said Alexander Tokman, Microvision President and CEO. “We are excited
about the many display and imaging applications that can be enabled by
the combination of talents and technologies of our teams.”
Harald Schenk, deputy director of Fraunhofer IPMS, said “We can’t
think of a more natural partnership than one with Microvision, which
has been a pioneer in MEMS projection display applications. We are
excited to continue this cooperation and to provide IPMS’ MEMS scanner
technology for the development of highly innovative display and
imaging applications.”
Fraunhofer IPMS developed the scanner for a recently publicized
prototype laser projector the size of a sugar cube. The miniature
projector is less than 16mm wide, 9mm high and 9mm deep. The prototype
projector houses a tiny silicon MEMS scanning mirror that scans light
from a red laser diode to create an image.
“Microvision’s full-color PicoP(TM) projector prototype and the
sugar cube projector from Fraunhofer IPMS are generating interest
worldwide,” said Tokman. “Both demonstrate the powerful
miniaturization capabilities of MEMS laser scanning technology. Our
IPM platform strategy is to implement the very best component
technologies to deliver the most cost-effective miniature display and
image capture solutions to our customers worldwide. This year we have
made a series of external strategic investments to accelerate and
enhance the development of the IPM based components. One strategic
investment was the development of a miniature green laser light
source. Now we are also investing to ensure that Microvision can
increase its already substantial lead in the MEMS scanning component.”
About Microvision:
Headquartered in Redmond, WA, Microvision, Inc. is the world
leader in the development of high-resolution displays and imaging
systems based on the company’s proprietary silicon micro-mirror
technology. The company’s technology enables solutions and products in
a broad range of industrial, consumer, military, and medical
applications. For more information about bar code products, please
visit www.flicscanner.com. For more information about Microvision’s
display capabilities, please visit www.microvision.com.
About Fraunhofer IPMS:
Fraunhofer Institute for Photonic Microsystems (IPMS) is one of 58
independent Institutes of the Fraunhofer Society, Europe’s largest
organization for applied research and development. Fraunhofer IPMS
carries out customer and application specific research, development
and fabrication of highly innovative photonic microsystems, such as
light modulating devices (scanners, micro mirror arrays), light
emitting devices (Organic Light-Emitting Diodes) and optical detectors
(photodiodes, integrated optoelectronics), as well as system
development based on proprietary sensors and actuators or commercially
available components. Fraunhofer IPMS maintains a 1000 m2 class 10
clean room focused on MEMS/MOEMS technologies and CMOS compatible
special processes. For further information, visit
www.ipms.fraunhofer.de.
Forward-Looking Statements
Certain statements contained in this release, including those
relating to future commercialization of technology and product
applications, and statements using words such as “expects,” 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: capital market risks, our ability to
raise additional capital when needed; market acceptance of our
technologies and products; our financial and technical resources
relative to those of our competitors; our ability to keep up with
rapid technological change; our dependence on the defense industry and
a limited number of government development contracts; 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; the timing of
commercial product launches and delays in product development; the
ability to achieve key technical milestones in key products;
dependence on third parties to develop, manufacture, sell and market
our products; potential product liability claims, risks related to
Lumera’s business and the market for its equity and other risk factors
identified from time to time in the company’s SEC reports and other
filings, including the Company’s Annual Report on Form 10-K filed with
the SEC. Except as expressly required by the federal securities laws,
we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, changes in circumstances or any other reason.
CONTACT: Microvision, Inc.
Matt Nichols (media), 425-882-6657
Jeff Wilson (investors), 425-882-6625
SOURCE: Microvision, Inc.