DGAP-News: Vuzix Secures License to See-Through Optics Technology from Nokia
(firmenpresse) - DGAP-News: VUZIX Corporation / Key word(s): Agreement/Alliance
Vuzix Secures License to See-Through Optics Technology from Nokia
21.10.2011 / 15:31
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Vuzix Secures License to See-Through Optics Technology from Nokia
ROCHESTER, NY -- (October 21 , 2011) - Vuzix Corporation (TSX-V: VZX,
OTC:BB: VUZI, FMB: V7X) ('Vuzix' or the 'Company') announced today that it
has entered into a technology license agreement with Nokia to develop and
produce see-through waveguide optics for use in near-eye display (NED)
systems (head mounted displays and video eyewear) based on Nokia's
proprietary see-through (Exit Pupil Expanding) EPE optics technology. The
agreement, combining Vuzix and Nokia technology, is expected to accelerate
the development and introduction of new NED products to the market.
Under the agreement, Vuzix will perform on-going research and development
and is expected to manufacture and bring to market components and products
containing the licensed technology. In addition, Vuzix will provide Nokia
with access to its products and components which incorporate the licensed
technology.
The see-through EPE technology has been developed and prototyped by Nokia
over the past decade in various configurations. Vuzix believes that it has
the potential to form the basis for sunglass-styled video eyewear, which
could be manufactured in high volume and appeal to mass consumer markets.
'We believe that Nokia's EPE technology solves a long missing piece in the
NED business for creating sunglass-style video eyewear.' said Paul Travers,
Vuzix President and CEO. He added, 'Integrate this Nokia technology with
Vuzix's advanced display engine developments with partners like Fraunhofer
IPMS, and we expect to be able to offer the video glasses that Hollywood
and Sci-Fi writers have only been able to imagine.'
Jyri Huopaniemi, Director and Head of the Nokia Research Center Media
Technologies Laboratory said, 'Vuzix' specialized expertise in video
eyewear will be critical in driving the further development of EPE
technology and ensuring its integration in new consumer products. We are
excited to be enabling a new era of innovation. '
About Vuzix Corporation
Vuzix is a leading supplier of Video Eyewear products in the defense,
consumer and media&entertainment markets. The Company's products,
personal display devices that offer users a portable high quality viewing
experience, provide solutions for mobility, thermal sighting systems,
tactical wearable displays and virtual and augmented reality. With its
origins in defense research and development for next generation display
solutions, Vuzix holds over 51 patents in the Video Eyewear field. The
company has won 9 Consumer Electronics Show Innovations Awards, the
RetailVision Best New Product and several wireless technology innovation
awards, among others. Founded in 1997, Vuzix is a public company (TSX-V:VZX
- News, OTC:BB: VUZI, FMB: V7X) with offices in Rochester, NY, Oxford, UK
and Tokyo, Japan. For more information visit www.vuzix.com.
Forward-Looking Statements Disclaimer
Certain statements contained in this 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, among other things, future product
releases, new opportunities, the Company's ability to capitalize on new
opportunities and the Company's leadership in the Video Eyewear 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further press and product information, please contact:
Vuzix CorporationEnd of Corporate News
75 Town Centre Drive
Rochester, NY 14623 USA
Investor
Information
grant_russell(at)vuzix.com
Tel: +1 (585) 359-
7562
Vuzix.com
Facebook.com/Vuzix
Twitter.com/Vuzix
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