8/29/2001
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BOTHELL, Wash., Aug. 29 /PRNewswire/ — Optical networking components developer Lumera Corporation, a subsidiary of
Microvision, Inc. (Nasdaq: MVIS), has been awarded a $1.6 million contract from the U.S. government to design new electro-optic polymer materials appropriate for the fabrication of a wideband optical modulator demonstration system.
The contract calls for Lumera to complete the first stage of the project within 14 months. If successful, the U.S. government may exercise options that would result in at least an additional $2.3 million and extend the device fabrication portion of the project into 2003.
Lumera is developing a new generation of unique active and passive components for optical networks that are expected to deliver increased bandwidth at very competitive costs while requiring less power than current devices. The company’s component development is based on proprietary electro-optic polymer materials it developed with its research partners at the
University of Washington.
“We are very pleased to develop materials and devices that address this agency’s needs and also have the potential to address large commercial markets for optical signal processing components,” said Todd McIntyre, Lumera vice president. “This effort is well aligned with our long-term commercial development objectives.”
Lumera will market its unique, high performance optical components to providers of optical networking systems equipment. The company expects to make prototype devices available to customers for testing during 2001 with commercial production scheduled to begin during 2002. Prototype devices based on materials developed by Lumera’s research team have already achieved record-setting bandwidth (in excess of 100 GHz) and operating voltages (below one volt) in demonstrations at commercial and government research labs.
About Microvision
Headquartered in Bothell, Wash., Microvision, Inc. is the developer of the patented retinal scanning display technology and a world leader in micro-miniature optical scanning technology for display and imaging applications. The company’s technology has application in a broad range of military, medical, industrial, professional and consumer information products.
Additional information can be found at the company’s web site at http://www.mvis.com.
Forward-Looking Statement
The information set forth in this release includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbor created by those sections. Certain factors that realistically could cause results to differ materially from those projected in the company’s forward-looking statements
are set forth in the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission.