4/23/2007 8:36:00 AM
<![CDATA[REDMOND, Wash., Apr 23, 2007 (BUSINESS WIRE) — Microvision (NASDAQ:MVIS), the leader in light scanning
technologies for display and imaging products, announced today that it
has entered into a commercial product development contract with a
world leading transportation sector systems integrator. Details of the
contract were not disclosed for competitive reasons at the request of
the customer.
Under the agreement, Microvision will work with this world leading
system integrator to initially design an innovative projection-based
display solution for an aerospace application based on Microvision’s
ultra miniature laser display projector platform.
“In 2006 we defined and implemented a common technology platform
strategy which resulted in a flexible display engine, PicoP(TM), that
can be leveraged into many high-value applications in the broad
transportation market segment,” stated Microvision President and CEO
Alexander Tokman. “Our unique display engine offers many inherent
advantages, such as improved safety which is the focus for this
specific program. Increasingly, prospective customers are endorsing
Microvision’s display platform strategy and we are thrilled that it is
resonating with our partners focused on commercial display
applications.”
About Microvision: www.microvision.com
Headquartered in Redmond, 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 consumer, medical, industrial, professional and consumer products.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those
relating to future product applications and benefits, 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; risks related to Lumera’s business and the market
for its equity, 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, including the Company’s Annual Report on
Form 10-K filed with the SEC.
SOURCE: Microvision Inc.
for Microvision
Matt Nichols, 425-882-6657 (Media)
Jeff Wilson, 425-882-6625 (Investors)