5/27/2004 9:36:00 AM
Company Continues to Prepare Pilot-Worn Full-Color See-Through
HMD for Rugged Military Flight Use
BOTHELL, Wash.–(BUSINESS WIRE)–May 27, 2004–
Microvision (Nasdaq:MVIS), a leader in light scanning
technologies, announced today that it has received a contract
modification for an additional $3.85 million from the U.S. Army
Product Manager, Air Warrior, awarded through the U.S. Army’s Aviation
Applied Technology Directorate (AATD), located at Ft. Eustis, VA.
The one-year contract is for advanced miniaturization and
ruggedization development of Microvision’s Scanned Beam display
technology, which the Army is supporting for potential use in attack
and utility helicopters under a pilot navigation flight system, called
the Virtual Cockpit Optimization Program (VCOP). Microvision’s display
technology is particularly well suited for use in the Army’s proposed
navigation system due to its potential for providing variable lighting
conditions (readable in bright sunlight to dim night operations) and
full color, and the expected cost efficiencies associated with a
small, light-weight display device that draws very low power.
VCOP takes advantage of Microvision’s advanced display technology
to provide pilots with battlefield information in their field of view
to increase situational awareness. The full-color navigational and
terrain overlays that appear on the helmet display depict Force XXI
Battle Command, Brigade-and-Below (FBCB2) information critical to
mission effectiveness, and have previously been flight tested with
positive results. This contract also incorporates development work for
the modification of the Electronic Data Manager (EDM, a knee board
style touch screen display) software and hardware for integration into
the VCOP system. Additionally, Microvision believes that the virtual
cockpit concept and its variations can be utilized not only to provide
digital information (see-through/color) in older analog helicopters,
but will also support a variety of other military aircraft, military
ground vehicles, and eventually infantry soldiers.
“The VCOP program provides both technical and cost advantages to
the Army,” noted Rob Sainsbury, General Manager of Government Programs
for Microvision. “Aging helicopter cockpits present a real problem.
Legacy analog avionics can be cumbersome to upgrade, particularly as
new digital 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. The VCOP helmet-mounted display, however, is small,
lightweight and can readily upgrade legacy cockpits with digitized
information without extensive cockpit refurbishment. 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 honored from our continuing 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 result in providing the latest technological
advantages on the battlefield for our men and women in uniform.”
About Microvision: www.microvision.com
Headquartered in Bothell, Wash., 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 has applications in a broad range
of military, medical, industrial, professional and consumer products.
Microvision has been working with Canon, BMW, the Electronics
Research Lab of Volkswagen of America and others to develop a number
of display and image capture product applications based on its
proprietary scanned beam technology.
Forward-Looking Statement Disclaimer
Certain statements contained in this release, including those
relating to contract performance, product capabilities, plans for
product development, future product benefits and applications, as well
as statements containing words like “believe” and “anticipates,” 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: 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; 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 delays in product development; 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 and filings,
including in its most recent Annual Report on Form 10-K.
CONTACT: Microvision Inc., Bothell
Matt Nichols, 425-415-6657 (media)
Brian Heagler, 425-415-6794 (investors)
SOURCE: Microvision Inc.