7/10/2002 6:02:00 AM
BOTHELL, Wash., Jul 10, 2002 (BUSINESS WIRE) — Microvision, Inc.
(Nasdaq:MVIS), announced it has been awarded a $1.9 million development contract
with NASA Langley Research Center to deliver a prototype cockpit helmet display
system for the Synthetic Vision Systems project.
The advanced display will support NASA research of a compact, low-power,
lightweight display solution for existing and future air transport, business and
general aviation aircraft. The contract award defines a prototype delivery
within 12 months.
NASA is pursuing advanced technologies that reduce accident rates and improve
aviation safety by eliminating low visibility conditions as a causal factor to
civil aircraft accidents. Current flight deck head down display media is
constrained by available cockpit space, while head up display media is
constrained by horizontal and vertical field-of-view and the lack of full color
“Reducing or eliminating controlled flight into terrain (CFIT) and runway
incursion accidents is possible with a cost-effective, light weight, see-through
display,” said Gary Peterson, director of customer development for Microvision.
“Microvision’s retinal scanning display (RSD) technology can enable the
presentation of a navigationally-accurate picture of the outside scene based
largely on a graphics rendition of a worldwide terrain, obstruction, and airport
database throughout the pilot’s field of regard during all phases of flight.”
Microvision’s technology — which it describes as augmented vision — uniquely
supports the demanding display requirements for information fusion for
commercial flight decks through its bright, day-light, see-through attributes
and scalable resolution. The technology with head tracking uniquely meets the
operational requirements of the flight deck by presenting needed display
information (communication, navigation and weather information) to the pilot
regardless of head position. The pilot can augment normal vision with critical
flight data — giving the pilot eyes `outside the cockpit’.
The expectation of this contract award was referenced in the Company’s first
quarter earnings press release dated May 9, 2002.
About Microvision: http://www.microvision.com
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 Disclaimer
Certain statements contained in this release, including those relating to
development of prototype display systems, as well as statements containing words
like “believe,” “anticipate,” “estimate,” “intend,” “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 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 Dec. 31, 2001
and our Quarterly Reports on Form 10-Q.
Matt Nichols, 425/415-6657 (media)
Brian Heagler, 425/415-6794 (investors)
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