12/11/2008 1:34:00 PM
REDMOND, Wash.–(BUSINESS WIRE)–Dec. 11, 2008–Microvision, Inc. (NASDAQ: MVIS), a global leader in innovative
ultra-miniature projection display and imaging products today announced
that it has been awarded a $750,000 contract to perform initial
engineering tasks that support development of a High-Definition (HD),
full-color, see-through eyewear display. The name of the customer was
not released for confidentiality reasons.
The development effort includes demonstration of a unique design
approach of a HD system based upon Microvision’s PicoP display engine
technology. The work under the contract is consistent with Microvision’s
continued development of a lightweight see-through optical system and
could lead to a variety of eyewear display applications.
Microvision’s eyewear display platform is being designed to combine its
miniature PicoP display engine technology with clear eyewear optics that
channel light and direct it to the viewer’s eye creating a bright, full
color, see-through image while maintaining a transparent view of the
surroundings. In addition to the see-through capability, this platform
is expected to be differentiated from competitive offerings by its
attractive ergonomics and ease-of-use.
“Customers are seeking new ways to deliver real-time, mission critical
information,” stated Ian Brown, Microvision VP of Marketing and Sales.
“We believe Microvision’s PicoP-enabled eyewear technology could provide
competitive advantages for these customers due to its inherent qualities
of high-brightness, compact form-factor, full-color and see-through
About Microvision www.microvision.com
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.
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”, “could” and “believe,” 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
Tiffany Bradford (investors), 425-936-6847
Michael Porter (investors), 212-564-4700
Source: Microvision, Inc.