ROCHESTER, NY, April 20, 2022 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or the “Company”), a leading provider of smart glasses and augmented reality (AR) technology and products, announced that it has received a follow-up order low six-figure cost for additional custom products. head-worn AR display engines based on a waveguide from a major US defense contractor. The Company expects further NREs in later phases before a customer accepts the final product design and leads to an eventual production schedule order.
“We are very pleased with the progress we continue to make with this major US defense contractor as we pursue an ultimate production opportunity with them,” said Paul Travers, President and CEO of Vuzix. “Custom waveguide-based OEM projects such as this represent a cost-effective vehicle to leverage our extensive optical and IP expertise and we look forward to announcing further developments with this company as we go along.” the progress of this project.
About Vuzix Corporation
Vuzix is a leading provider of smart eyewear and augmented reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal displays and portable computing devices that provide users with a high-quality portable viewing experience, provide solutions for mobility, portable displays and augmented reality. Vuzix holds 246 patents and patents pending and numerous IP licenses in the field of video eyewear. The company has won innovation awards at the Consumer Electronics Show (or CES) for the years 2005 to 2022 and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, United Kingdomand Tokyo, Japan. For more information, visit the Vuzix website, Twitter and Facebook pages.
Disclaimer of Forward-Looking Statements
Certain statements contained in this press release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements in this release relate to Vuzix smart glasses, our relationship with the referenced defense contractor, the potential for additional development phases and an ultimate volume production program, and among other things the company’s leadership in the smart glasses and AR displays industry. They are usually identified by words such as “believes”, “may”, “expects”, “anticipates”, “should” and similar expressions. Readers should not place undue reliance on these forward-looking statements, which are based on 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 matters described in more detail in the “Risk Factors” section of the Company’s annual reports and MD&A filed with the Securities and Exchange. United States 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 changes in events or circumstances after the date of this release, except as required by applicable law.
Media Contact and Investor Relations:
Ed McGregorDirector of Investor Relations,
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 United States,
Investor information – [email protected] www.vuzix.com