8/21/2002 5:58:00 AM
BOTHELL, Wash., Aug 21, 2002 (BUSINESS WIRE) — Microvision, Inc.
(Nasdaq:MVIS), a leader in light scanning technologies for personal displays and
imaging solutions, today announced that it has been awarded a $1.1 million
addition to an existing $3.3 million development contract from the U.S. Army’s
Medical Research and Material Command (USAMRMC), Telemedicine and Advanced
Technology Research Center (TATRC).
The contract, originally announced on December 20, 2001, is to continue the next
phase of development for a mobile wireless personal display system for medical
applications.
The contract supports the objectives for the Army’s INFOMEDIC concept — a
mobile medical system that will enable military surgical personnel and medics to
access, read, and transmit critical medical data via a head-worn display,
wearable computer, and wireless network. Microvision will design, integrate, and
test a head-worn mobile display solution based on its unique retinal scanning
display technology to meet the Army’s medical system specification.
Based on Microvision’s patented light scanning technology, the Nomad(TM)
Personal Display System is a high-resolution, head-worn display that presents
images and information to the user on a see-through virtual 17-inch screen. This
unique precision display instrument enables hands-free access to information
such as diagrams, instrumentation, maintenance records, moving maps and
interactive training manuals, superimposing the information on the user’s view
and creating “augmented vision.” The Nomad System features full
daylight-readability, allowing users to view high-contrast images in even
challenging ambient lighting conditions. High-quality, Super VGA resolution
makes the Nomad System immediately compatible with a broad range of existing
applications and content.
“Microvision’s contract with TATRC underscores the company’s objectives for the
ongoing development of a family of personal displays based on the Nomad
product,” noted Rick Rutkowski, Microvision’s CEO. “This effort is expected to
pave the way for subsequent additions to the Nomad product line that will
feature enhancements in overall ergonomic design, form factor, and performance
— enhancements that we believe will benefit a variety of military, medical,
aviation and industrial applications. The INFOMEDIC concept represents the
future of battlefield medicine, and indeed the future of personal information
display. We are excited about the opportunity to demonstrate the advantages that
our display technology can bring to this critical aspect of military
operations.”
About Microvision
The company, located on the web at www.microvision.com, is headquartered in
Bothell, Washington. 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. Nomad is a trademark of
Microvision, Inc.
U.S. Army Policy
This release refers to U.S. Army Award Number DAMD17-02-2-0005. The U.S. Army
Medical Research Acquisition Activity, 820 Chandler Street, Fort Detrick MD
21702-5014, is the awarding and administering acquisition office. The content
does not necessarily reflect the position or the policy of the Government; and
no official endorsement should be inferred.
Forward-Looking Statement Disclaimer
Certain statements contained in this release, including those relating to
product development, performance, applications and enhancements, as well as
statements containing words like “believe,” “expect,” and other similar
expressions, 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, 2001, and its Quarterly Reports on Form 10-Q.
CONTACT:
Microvision, Inc.
Matt Nichols (media), 425/415-6657
Brian Heagler (investors), 425/415-6794
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