4/7/2003 6:29:00 AM
BOTHELL, Wash.–(BUSINESS WIRE)–April 7, 2003–Microvision, Inc.
(Nasdaq:MVIS) today announced that it has received a contract
modification for an additional $2.2 million from the U.S. Army Aircrew
Integrated Systems Product Office awarded through the U.S. Army’s
Aviation Applied Technology Directorate (AATD), located at Ft. Eustis,
VA. Microvision will expand and accelerate its work on the Virtual
Cockpit Optimization Program (VCOP) for use in attack and utility
helicopters, preparing the revolutionary, pilot worn, full-color
display for flight demonstrations in 2004. Microvision will build two
helmet mounted displays based on the miniaturized and ruggedized
subsystem it developed over the past two years.
VCOP is intended to function as a virtual cockpit that takes
advantage of Microvision’s advanced display technology to provide
pilots with different information overlays depending on where the
pilot is looking. As the pilot looks up and out of the cockpit,
various full-color targeting, navigational or terrain overlays appear
on his helmet display. When the pilot looks down into the cockpit,
virtual instruments may appear, replacing many of the existing dials
and displays found in cockpits today. Microvision believes that the
virtual cockpit concept and its variations can be utilized not only in
helicopters, but also in a variety of other military and commercial
aircraft and even in ground vehicles.
“The result of the VCOP program is expected to provide both
technical and cost advantages to the Army,” noted Rob Sainsbury,
General Manager of Government Programs for Microvision. “Aging
helicopter instruments present a real problem. Legacy avionics can be
cumbersome and hard to maintain, particularly as new capabilities
become available. Maintaining or upgrading cockpit hardware requires
re-engineering, replacement and re-wiring. This expensive procedure
removes the aircraft from service for an extended period. A virtual
cockpit with helmet mounted display however, is small, lightweight and
can be readily upgraded by changing the software. We believe the
flexible, cost effective VCOP system will help the Army deploy and
maintain the most advanced helicopter cockpits available while
offering substantial savings compared to the cost of upgrading all the
instruments, software and supporting elements in an existing
helicopter’s avionics suite.”
Sainsbury added “We are excited about our expanding role with the
Army and appreciate the level of support we have received from
Congress, particularly the Washington delegation. Their support of
this technology will pay real dividends for our men and women in
uniform.”
About Microvision: www.microvision.com
Headquartered in Bothell, Wash., Microvision Inc. is the developer
of patented micro miniature optical scanning 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.
Forward Looking Statement
Certain statements contained in this release, including plans to
develop products or systems, meet development timetables, and deploy
product applications, as well as statements containing words like
“believe,” “anticipate,” “estimate,” “may,” “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 our
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
and ability to supply products in commercial quantities; the ability
to achieve key technical milestones in key products; and other risk
factors identified from time to time in our SEC reports and filings,
including in our most recently filed Annual Report on Form 10-K.
CONTACT:
Microvision, Inc. Matt Nichols (media), 425/415-6657
Brian Heagler (investors), 425/415-6794
SOURCE: Microvision, Inc.