12/11/2007 6:02:00 AM
REDMOND, Wash.–(BUSINESS WIRE)–Dec. 11, 2007–Microvision
(NASDAQ:MVIS), a leader in light scanning technologies for display and
imaging products, announced that it has signed a development agreement
with a leading European supplier of automotive and industrial
technologies. Under the agreement, Microvision will deliver prototype
samples for the automotive Tier 1 partner to evaluate Microvision’s
PicoP(TM) technology for a variety of automotive display applications,
including Head Up Displays (HUD).
Microvision has pioneered the development of an ultra-miniature
laser projection technology called PicoP. The PicoP display is based
on Microvision’s proprietary MEMS scanning micro mirror technology
that offers important mobile application advantages over existing flat
panel technologies: exceptional resolution, contrast and color,
smaller packaging, and less power consumption.
“We are now in development with leading Tier 1 integrators in all
three major automotive economies: North America, Europe and Asia,”
said Alexander Tokman, President and CEO of Microvision. “We believe
this further affirms our PicoP automotive strategy and allows us to
broaden opportunities with leading automakers.”
The name of the automotive tier 1 supplier was withheld at its
request for confidentiality reasons.
About Microvision: http://www.microvision.com
Headquartered in Redmond, WA, 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 industrial, consumer, military, and professional products.
Certain statements contained in this release, including those
relating to future product development, market opportunities and
statements using words such as “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
SOURCE: Microvision, Inc.