5/18/2005 6:30:00 AM
BOTHELL, Wash.–(BUSINESS WIRE)–May 18, 2005–Microvision, Inc.
(Nasdaq:MVIS) of Bothell, WA, the world leader in the development of
scanned beam displays and imaging products, announced today that it
will reveal its latest version of the Spectrum(R) helmet-mounted,
full-color Display System at the Society for Information Display (SID)
International Symposium, in Boston, May 24 – 26. The revolutionary
scanned beam display is the culmination of a Phase 3, $3.85 million
development contract with the U.S. Army Product Manager — Air
Warrior, part of Program Executive Office — Soldier.
The helmet-mounted display system uses Microvision’s proprietary
scanned beam technology to give pilots and mounted soldiers
unprecedented access to high fidelity imagery and information. Whether
airborne or in ground vehicles, soldiers will be able to access
computers, sensors and remote data, with the information overlaid on
their vision by the Spectrum Display. Such a breakthrough in what the
military terms “situational awareness” could be the key to more
knowledgeable decision making on the battlefield, resulting in
increased operational effectiveness and enhanced safety.
The new Spectrum Display System combines improved laser technology
with low profile, light weight optics and Microvision’s MEMS-based
scanned beam display technology to achieve a level of performance
previously unavailable, including full sunlight readability and color
fidelity superior to existing display technologies such as AMLCD, OLED
and CRT. Competing display technologies have been unable to achieve
either the brightness or color gamut that the military has long
sought. Additionally, the Spectrum Helmet-Mounted Display attaches to
the standard military helmet with no modifications and can be viewed
with the glare shield visor in either up or down position. Further,
the system control module size and power have been dramatically
reduced to fit within the requirements of the Army’s onboard
electronics transportation rack.
Developed in collaboration with the Army’s Aviation & Missile
Research, Development, & Engineering Center (AMRDEC), the full-color
display system could be ready for military production following the
next phase of flight qualification and testing, within the next 18
months. “We believe that the Spectrum System is a natural fit for
helicopters and armored vehicles,” said Tom Sanko, Microvision Vice
President, Marketing. “Our technology in the form of the Nomad(R)
Helmet-Mounted Display System has been deployed in Iraq over the past
18 months with the Stryker Brigade Combat Team. Adding color to the
Nomad architecture is a natural evolution in the ongoing development
of the technology. We are pleased and honored to be teamed with
Program Executive Office — Soldier in an effort to extend our
breakthrough display technology to military rotorcraft and ground
vehicles to enhance situational awareness and to give our troops an
operational advantage on the battlefield.”
In addition to the Spectrum Display System, Microvision plans to
showcase the following products and prototypes at the SID exhibition:
the MicroHUD(TM) automotive head-up display system, a high contrast,
high resolution windshield projection display with a display engine a
fraction of the size of LCD-based displays, and the Nomad Expert
Technician System; the world’s only hands-free wearable computer with
a head-worn, head-up display, enabling technicians and other mobile
workers to overlay relevant information on their tasks, thereby
reducing task time and guesswork by eliminating footsteps. The Nomad
System was recognized as one of the “Top Twenty Tools” by Motor
Magazine and won a 2004 Technology Innovation Award from The Wall
Street Journal. Microvision will also exhibit the imagic(R)
microdisplay, the award winning full-color, scanned-beam display
intended for low cost, high-volume consumer electronics applications
as well as the latest version of the Nomad Helmet-Mounted Display
System slated for deployment to Iraq later this year.
About Microvision: www.microvision.com
Headquartered in Bothell, Washington, 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 and its scanned beam display technology have been
recognized by IEEE Spectrum Magazine as one of “10 tech companies for
the next 10 years.”
Forward-Looking Statement
Certain statements contained in this release, including those
relating to future products, potential performance, markets and
product applications and those which use words such as “could,”
“should,” “believe” and “expect,” 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: market
acceptance of our technologies and products; our ability to obtain
financing; 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; 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, including in its Annual Report on 10-K for the
year ended December 31, 2004, and its Quarterly Reports on Form 10-Q.
CONTACT: Microvision, Inc.
Matt Nichols, 425-415-6657 (Media)
Brian Heagler, 425-415-6794 (Investors)
SOURCE: Microvision, Inc.