11/25/2002 6:03:00 AM
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BOTHELL, Wash.–(BUSINESS WIRE)–Nov. 25, 2002–Optical networking
components developer Lumera Corporation, a subsidiary of Microvision,
Inc. (Nasdaq:MVIS), has been awarded a contract extension for
approximately $1,000,000 from the U.S. government to continue
development of new electro-optic polymer materials for the fabrication
of prototype wideband optical modulators.
This second stage of the contract is scheduled for completion
within 11 months. The government exercised this option to extend a
previously announced contract.
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 Tom
Mino, CEO for Lumera. “This effort is well aligned with our long-term
commercial development objectives.”
About Lumera:
As a subsidiary of Microvision, Inc., Lumera is a leader in the
development of electro-optic devices based on proprietary optical
polymers. The company plans to deliver superior and unique component
solutions to optical systems suppliers. Lumera plans to supply
standard and custom components to systems providers in multiple
high-growth product categories. Additional information can be found at
Lumera’s Web site at www.lumera.com.
About Microvision:
The company, located on the web at www.microvision.com is
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 applications in a broad
range of military, medical, industrial, professional and consumer
information products.
Forward Looking Statement
Certain statements contained in this release, including those
related to delivery of increased bandwidth, development of materials
and devices, plans to deliver components and component solutions,
product development and applications, 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 our
forward-looking statements include the following: market acceptance of
our technologies and products; our financial and technical resources
relative to those of our competitors; our ability to obtain financing;
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 our SEC reports,
including in our Annual Report on 10-K for the year ended December 31,
2001 and our Quarterly Reports on Form 10-Q.
CONTACT:
Lumera Corporation/Microvision
Matt Nichols, 425/415-6657 (media)
or
Brian Heagler, 425/415-6794 (investors)