Vuzix Expands Its Market Leadership in Optical Waveguides with the Addition of Integrated Vision Correction Prescriptions

Vuzix Corporation -5.33%

Vuzix Corporation

VUZI

1.42

-5.33%

-         Vuzix CEO Paul Travers to Present at SPIE Photonics West today

ROCHESTER, N.Y., Jan. 30, 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 now has the ability to supply optical waveguides with integrated vision correction prescriptions, further expanding the applicability for real world ease of use for individuals requiring vision correction when wearing AR smart glasses and HMD solutions. The Company has already begun demonstrating this capability to its potential OEM customers. This solution can be produced in high volume at a competitive cost and is in addition to the elimination of external eye glow via its recently introduced Incognito waveguide technology, two critical advancements to the ultimate success and acceptance of AR smart glasses.

Vuzix is establishing the infrastructure to support the production of prescription-based waveguide assemblies

Vuzix is currently in the process of establishing the infrastructure to support the production of prescription-based integrated waveguide lens assemblies with a roadmap set to scale production substantially thereafter.  Multiple patents and patents pending are in place related to system processes and integrating scripts or optical power for smart glasses eyewear. The prescription lenses need to be finished, trimmed, and mounted to the waveguides, all of which must be conducted in a controlled dust-free environment and utilize the existing industry methods for high volume capacity waveguide prescription glasses. Vision correction will initially support a range of +2D to -8D diopters but will ultimately support any prescription. Vuzix' recently announced Ophthalmic Advisory Board will help ensure that the Company's processes and finished products adhere to FDA-certified standards and regulations.

Relatedly, Vuzix CEO Paul Travers will be giving a presentation today at SPIE Photonics West at the Moscone Center in San Francisco, California, titled "Critical considerations for smart glasses to support broader market demand: from prescriptions and privacy to weight and wearability". Mr. Travers will discuss the considerations needed to support the successful adoption of this technology, including the technical tradeoffs underpinning critical features like size, weight, battery longevity, usability and style, as well as more advanced topics such as scalability factors, how different waveguide options like forward light management (eye glow) can impact design, and how to navigate supply chain issues for a successful prescription solution.

"Our ability to design and fabricate waveguides with leading edge functionality such as integrated prescriptions and no external eye glow when operating and, just as importantly, in volume at a competitive cost, is unparalleled in the industry today," said Paul Travers, President and CEO of Vuzix. "We expect the addition of integrated waveguide prescriptions to be scalable and aligned with existing industry equipment and practices, allowing us to address a critical need for AR smart glasses target applications in every market. Given that 64% of the global population requires some level of vision correction, we believe the opportunity is significant."

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; 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 Vuzix waveguides, the integration of prescription correction optics, future capabilities, adaptability with existing industry manufacturing techniques, 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

(PRNewsfoto/Vuzix Corporation)

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SOURCE Vuzix Corporation

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