ROCHESTER, N.Y., April 4, 2024 /PRNewswire/ -- Vuzix®
Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a
leading supplier of smart glasses and Augmented Reality (AR)
technology and products, announced it has received new additional
orders from two aerospace and defense firms to further develop and
deliver waveguide-based display solutions in 2024.
The first, a new order from a global Tier-1 aerospace and
defense firm, involves the development of new head mounted display
(HMD) technology for military aircraft. The customized HMD
waveguide and HD display engine development program with this
customer has continued to expand and move toward eventual
production. Vuzix has previously completed multiple stages of
product development and refinement with this partner.
Vuzix has also received a new follow-on order for further
development of a lightweight heads-up display (HUD) replacement for
technologies previously supplied by a China-based company. This order was
received from a US-based company that is a leader in
technologically advanced and intelligent solutions for the global
aerospace and defense industry. This customer is the incumbent
supplier for several existing programs and has turned to Vuzix as a
US-based manufacturer of waveguide and display technologies.
"We continue to design and further develop next generation
waveguide-based display solutions for these large aerospace and
defense players as they pursue multiple production opportunities,"
said Paul Travers, President and CEO
of Vuzix. "As the only US-based manufacturer of waveguides, we look
forward to announcing further developments with the many defense
firms with which we are already engaged."
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 350 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 2024 and several wireless technology innovation
awards among others. Founded in 1997, Vuzix is a public company
(NASDAQ: VUZI) with offices in: Rochester, NY; 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 Vuzix' business growth with these aerospace and defense
partners, the success of these further development projects, the
potential ultimate move into volume procurement programs, the
ultimate success of these programs 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
