ROCHESTER, N.Y., Oct. 23,
2013 /PRNewswire/ -- Vuzix Corporation (OTC QB: VUZI), a
leading supplier of Video Eyewear and Smart Glasses products in the
consumer, commercial and entertainment markets, announced today
that it has developed, manufactured and completed the shipment its
first high-definition see-thru holographic optical display systems
to the U.S. Military's Defense Advanced Research Projects Agency
(DARPA) for use in the Persistent Close Air Support (PCAS) program
in the battlefield arena. The systems are designed for use by Joint
Terminal Attack Controllers (JTAC).
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Although Vuzix sold its Tactical Display Group which served the
military and defense market in June of 2012, the Company continues
certain select R&D programs with the U.S. Department of Defense
to create next-generation optical waveguide technologies that can
provide battlefield and intelligence advantages for U.S. Soldiers.
Vuzix' technologies are also designed to reduce collateral damage
and potential fratricide to friendly forces. Military technologies
created under these Department of Defense programs, funded the by
government, have strong crossover potential into the consumer
markets.
These high-definition see-thru holographic optical display
systems shipped by Vuzix offer soldiers access to critical data
which is displayed in the 720p optical see thru waveguide display.
The helmet-mounted display is overlaid with an electronic shutter
which allows the operator to adjust the tint of the lens for
increased performance in high brightness or outdoor settings.
Enabling technologies for the system include manned/unmanned
airborne platforms, next generation graphical user interfaces, data
links, digital guidance and control, and advanced targeting and
visualization tools.
Vuzix President and CEO Paul
Travers commented, "We are very pleased to deliver this
next-generation system, which offers a competitive step-up for our
military personnel to improve our ground forces' safety and
effectiveness. We intend to continue the advancement of our
waveguide technology through R&D programs in conjunction with
various agencies within the U.S. Department of Defense. Vuzix
benefits by receiving non-dilutive funding to develop the advanced
optical systems which can translate into commercial applications,
while contributing our Company's expertise towards the safety and
success of our military forces and our nation's security."
About Vuzix Corporation
Vuzix is a leading supplier of Video Eyewear products in the
consumer, commercial and entertainment markets. The Company's
products include personal displays and wearable computing devices
that offer users a portable high quality viewing experience,
provide solutions for mobility, wearable displays and virtual and
augmented reality. Vuzix holds 33 patents and 15 additional 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 2013 and several wireless
technology innovation awards, among others. Founded in 1997, Vuzix
is a public company (VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
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 and include the completion of the high-definition see-thru
holographic optical waveguide display system, future R&D
programs and development work with U.S. Government, the application
and sale of such technologies outside the defense sector, the value
of the IP portfolio, among other things, and the Company's
leadership in the Video Eyewear 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.
For further investor and media information contact:
Andrew Haag
Managing Partner
IRTH
Communications
vuzi@irthcommunications.com
1-866-976-IRTH
(4784)
or IR@Vuzix.com or 585-359-7562
SOURCE Vuzix Corporation