7/7/2009 6:01:00 AM
REDMOND, Wash.–(BUSINESS WIRE)–Jul. 7, 2009–
Microvision, Inc. (NASDAQ: MVIS) announced today that it has been
awarded a $1,000,000 subcontract by Lockheed Martin Corporation. This
subcontract is part of DARPA’s Urban Leader Tactical Response,
Awareness & Visualization (ULTRA-Vis) program, an advanced
technology development initiative, whose objective it is to build a
soldier-worn system that provides non-line-of-sight command and control
in distributed urban operations for dismounted warfighters. Under the
subcontract, Microvision will develop a daylight-readable, see-through,
low-profile, ergonomic eyewear display.
DARPA has created the ULTRA-Vis program to bring real-time tactical
see-through heads-up information to ground soldiers in order to increase
their safety and situational awareness in urban environments. Although
tactical information is available to ground soldiers today, existing
head-mounted displays and legacy system architectures have prevented
this information from being delivered in a low-profile, see-through
iconic mode. When integrated to an advanced information management
system, Microvision’s eyewear display could enable users to receive
visual commands, view geo-registered iconic representations, and receive
other full-color image content overlaid on their view.
“Microvision is very pleased to work with Lockheed Martin to advance the
development of see-through eyewear displays in support of the DARPA
ULTRA-Vis program,” said Ian Brown, Microvision’s Vice President of
Sales and Marketing. “By designing Microvision’s ultra-miniature PicoP®
Display Engine and our thin, clear Substrate Guided Relay (SGR) Optics
into a wearable display, we have the potential to bring battery
operable, low-profile, see-through, full-color eyewear displays to
users. This eyewear display development could enable information content
to be overlaid in the user’s field-of-view in operational environments,
providing a critical information advantage. Additionally, this display
could be used in other applications, where real-time content is needed
to improve situational awareness, such as combat support and logistics.”
About Microvision
Microvision provides the PicoP display technology platform designed to
enable next-generation display and imaging products for pico projectors,
vehicle displays, and wearable displays that interface with mobile
devices. The company also manufactures and sells its bar code scanner
product line which features the company’s proprietary MEMS technology.
For more information, visit our website at www.microvision.com
and our corporate blog at www.microvision.com/displayground.
Forward-Looking Statement
Certain statements contained in this release, including those relating
to product development, potential product benefits, and statements using
words such as “expect”, “potential” and “could” 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, 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.
Source: Microvision, Inc.
Microvision, Inc.
Media
Matt Nichols, 425-882-6657
Investors
Tiffany
Bradford, 425-936-6847