- Begins
initial production of waveguides for in-house
and OEM programs
ROCHESTER, N.Y., Sept. 26,
2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ:
VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart
Glasses and Augmented Reality (AR) technology and products, today
announced that it has certified and commenced sampling waveguides
for both in-house and OEM programs at its new state-of-the-art mega
manufacturing facility, meeting the Company's timeline objectives.
Initial waveguides are targeted for use in products based on the
Company's Ultralite OEM PlatformSM.
This production facility is located adjacent to the Company's
headquarters and currently encompasses 12,000 square feet of
primarily class 1K and class
10K clean rooms. Vuzix has the option
to lease the building's remaining 27,000 square feet when increased
product demand warrants it. This new facility augments an
additional ~10,000 square foot production facility located in the
Company's headquarters. In addition to significantly increasing
unit capacity and lowering manufacturing costs, the new facility
will also focus on the advancement of higher index materials,
advanced glass substrates and unique formulation technologies.
Broad in-house capabilities also include rapid specification to
design, mold production, replication and test, system integration,
and waveguide fabrication that will now include small and large
format waveguide designs. This unique waveguide manufacturing
facility enables not only the anticipated multi-billion-dollar
augmented reality smart glasses market but other large markets like
heads-up displays for in-vehicle use cases and more.
An official ribbon cutting ceremony is slated to take place in
early December of this year.
"We believe this is a one-of-a-kind production facility, one
that significantly leverages our years of waveguide expertise from
design through to production," said Paul
Travers, President and CEO of Vuzix. "Waveguides represent a
fundamental cornerstone technology to the AR wearables industry and
this facility was specifically designed and built from the ground
up to make them in high volumes and at industry-leading
competitive costs."
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of Smart
Glasses and Augmented Reality (AR) technologies and products for
the enterprise, medical, defense and consumer markets. The
Company's products include head-mounted smart personal display and
wearable computing devices that offer users a portable high-quality
viewing experience, provide solutions for mobility, wearable
displays and augmented reality, as well OEM waveguide optical
components and display engines. Vuzix holds more than 325 patents
and patents pending and numerous IP licenses in the fields of
optics, head-mounted displays, and augmented reality Video Eyewear
field. Moviynt, an SAP Certified ERP SaaS logistics solution
provider, is a Vuzix wholly owned subsidiary. The Company has won
Consumer Electronics Show (or CES) awards for innovation for the
years 2005 to 2023 and several wireless technology innovation
awards among others. Founded in 1997, Vuzix is a public company
(NASDAQ: VUZI) with offices in: Rochester, NY; Oxford, UK; Munich,
Germany; and Kyoto and
Tokyo, Japan. For more
information, visit the Vuzix website, Twitter and Facebook
pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are
"forward-looking statements" within the meaning of the Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws. Forward looking statements contained in this release relate
to the Company's new waveguide plant including capacities, timing,
capabilities, future waveguide technologies, Vuzix Smart Glasses
and among other things the Company's leadership in the Smart
Glasses and AR display industry. They are generally identified by
words such as "believes," "may," "expects," "anticipates," "should"
and similar expressions. Readers should not place undue reliance on
such forward-looking statements, which are based upon the Company's
beliefs and assumptions as of the date of this release. The
Company's actual results could differ materially due to risk
factors and other items described in more detail in the "Risk
Factors" section of the Company's Annual Reports and MD&A filed
with the United States Securities and Exchange Commission and
applicable Canadian securities regulators (copies of which may be
obtained at www.sedar.com or www.sec.gov). Subsequent events and
developments may cause these forward-looking statements to change.
The Company specifically disclaims any obligation or intention to
update or revise these forward-looking statements as a result of
changed events or circumstances that occur after the date of this
release, except as required by applicable law.
Vuzix Media and Investor Relations Contact:
Ed McGregor, Director of Investor
Relations,
Vuzix
Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com
www.vuzix.com
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SOURCE Vuzix Corporation
