ROCHESTER, NY, May 6, 2022 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or the “Company”), a leading provider of smart eyewear and augmented reality (AR) technologies and products, announced that he had recently received an additional follow-up. commissioned by three defense contractors it works with. These are primarily orders for second and third series of waveguide-based products that continue to progress towards expected commercial volume deployments. Vuzix is currently engaged with a total of five different aerospace and defense contractors who are in various stages of developing their solution using Vuzix components. The Company expects further NREs in the later phases of some of these contractors before a final product design accepted by the customer leads to an eventual production program order while, in at least one cases, these are early production components.
“The need for wearable AR-based devices is going to be ubiquitous and the defense space is no exception; therefore, our aerospace and defense related OEM opportunities continue to grow. We are ideally positioned as the only U.S.-based waveguide manufacturer for these kinds of products,” said Paul Travers, President and CEO of Vuzix. “We will continue to develop and refine waveguide technologies from waves and display engines that these contractors need for their next-generation solutions as we move closer to final production deployments.”
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 referenced defense contractors, the potential for additional development phases and ultimate volume production programs, and among other things the company’s leadership in the smart glasses and AR display 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. US 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
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