Vuzix Receives New Additional Orders from Two Aerospace Defense Firms to Further Develop Their Waveguide-based Display Solutions

News provided by

Apr 04, 2024, 08:00 ET

ROCHESTER, N.Y., April 4, 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 has received new additional orders from two aerospace and defense firms to further develop and deliver waveguide-based display solutions in 2024.

The first, a new order from a global Tier-1 aerospace and defense firm, involves the development of new head mounted display (HMD) technology for military aircraft. The customized HMD waveguide and HD display engine development program with this customer has continued to expand and move toward eventual production. Vuzix has previously completed multiple stages of product development and refinement with this partner.

Vuzix has also received a new follow-on order for further development of a lightweight heads-up display (HUD) replacement for technologies previously supplied by a China-based company. This order was received from a US-based company that is a leader in technologically advanced and intelligent solutions for the global aerospace and defense industry. This customer is the incumbent supplier for several existing programs and has turned to Vuzix as a US-based manufacturer of waveguide and display technologies.

"We continue to design and further develop next generation waveguide-based display solutions for these large aerospace and defense players as they pursue multiple production opportunities," said Paul Travers, President and CEO of Vuzix. "As the only US-based manufacturer of waveguides, we look forward to announcing further developments with the many defense firms with which we are already engaged."

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; 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' business growth with these aerospace and defense partners, the success of these further development projects, the potential ultimate move into volume procurement programs, the ultimate success of these programs 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
[email protected]
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – [email protected] www.vuzix.com

SOURCE Vuzix Corporation