Vuzix Completes Phase 2 Development and Delivers Customized Waveguide-Based Head-Worn Display Engine to a Major US Defense Contractor
9:32 AM ET 1/4/21 | Dow Jones
ROCHESTER, N.Y., Jan. 4, 2021 /PRNewswire/ -- Vuzix(R) Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced it has completed the Phase 2 design, development and delivery of a customized waveguide-based head-worn AR Display Engine for a major US defense contractor. The phase-gated development program with this customer was originally announced in March 2020, with the Phase 2 leg announced in October 2020 now completed and delivered before December 31, 2020. The Company expects potentially further NREs in subsequent phases before a customer accepted final product design could lead to an eventual production program 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. "OEM custom waveguide-based projects such as this represent a profitable vehicle for leveraging our extensive optical expertise and IP and we look forward to announcing further developments with this firm as the project proceeds."
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 179 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2021 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, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.
