- Development of augmented reality head mounted displays using
Vuzix waveguide technologies to address pressing
challenges
ROCHESTER, N.Y., June 3, 2024
/PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the
"Company"), a leading supplier of smart glasses and Augmented
Reality (AR) technology and products, is pleased to announce that
it has been selected by AFWERX for a Smart Business Innovative
Research (SBIR) Phase I contract focused on the development of
augmented reality head mounted displays (HMDs) using waveguide
technologies to address the most pressing challenges in the
Department of the Air Force (DAF). Under this DAF funded program,
Vuzix will begin developing and supplying innovative waveguide and
HMD capabilities that will strengthen the national defense of
the United States of America.
"We are thrilled to directly engage with the U.S. Government via
this Department of the Air Force development contract award," said
Paul Travers, President and Chief
Executive Officer at Vuzix. "Our waveguides, which are proudly
designed and manufactured in our New York
State facility, can be paired with our leading-edge
projector technologies typically used by DOD. This innovative
combination of our optical solutions promises a new level of
functionality and performance to what may ultimately become part of
a broad range of solutions for DOD aircraft, vehicles, and
personnel use cases across various military US DOD branches."
The views expressed are those of the author and do not
necessarily reflect the official policy or position of the
Department of the Air Force, the Department of Defense, or the U.S.
government.
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 375 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.
About Air Force Research Laboratory (AFRL)
The Air Force Research Laboratory is the primary scientific
research and development center for the Department of the Air
Force. AFRL plays an integral role in leading the discovery,
development, and integration of affordable warfighting technologies
for our air, space and cyberspace force. With a workforce of more
than 12,500 across nine technology areas and 40 other operations
across the globe, AFRL provides a diverse portfolio of science and
technology ranging from fundamental to advanced research and
technology development. For more information, visit
www.afresearchlab.com.
The Air Force Research Laboratory and AFWERX have partnered to
streamline the Small Business Innovation Research (SBIR) and Small
Business Technology Transfer (STTR) process by accelerating the
small business experience through faster proposal to award
timelines, changing the pool of potential applicants by expanding
opportunities to small business and eliminating bureaucratic
overhead by continually implementing process improvement changes in
contract execution. The DAF began offering the Open Topic SBIR/STTR
program in 2018 which expanded the range of innovations the DAF
funded.
About AFWERX
As the innovation arm of the DAF and a directorate within the
Air Force Research Laboratory, AFWERX brings cutting-edge American
ingenuity from small businesses and start-ups to address the most
pressing challenges of the DAF. AFWERX employs approximately 325
military, civilian and contractor personnel at six hubs and sites
executing an annual $1.4 billion
budget. Since 2019, AFWERX has executed 4,697 contracts worth more
than $2.6 billion to strengthen the
U.S. defense industrial base and drive faster technology transition
to operational capability. For more information, visit:
www.afwerx.com.
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 Smart Glasses, our new engagement with the U.S. Air Force
Research Laboratory and DAF, potential of future SBIR awards and
follow-on work on this program and future possible adoption and
deployment of our technologies and solutions and its timing, 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