MicroVision Announces Completion of its Long-Range Lidar Sensor A-Sample Hardware and Development Platform
April 28 2021 - 8:30AM
MicroVision, Inc. (NASDAQ: MVIS), a leader in MEMS based laser
beam sensing technology, today announced that it has completed
development of its A-Sample hardware and development platform for
demonstration of key performance features of its long-range lidar
sensor to potential customers, partners, or parties interested in
strategic alternatives.
“In October 2020 we set an aggressive schedule
to complete development of our A-Sample in the April timeframe. I
am proud of our talented team, their dedication and their ability
to execute,” said Sumit Sharma, Chief Executive Officer of
MicroVision. “I believe our differentiated, high-performance lidar
sensor has the potential to advance autonomous driving and active
safety systems beyond current sensors announced in the automotive
market. I expect that a version of this lidar sensor could be
available for sale, in initial quantities, in the third or fourth
quarter of 2021,” continued Sharma.
“With an expected range of 250 meters and a
field of view of 100 degrees horizontal by 30 degrees vertical, we
expect this lidar sensor to provide the highest resolution point
cloud at 10.8 million points per second while operating at 30
hertz. Additionally, this lidar sensor is designed to be immune to
interference from sunlight and other lidars. One of the ground
breaking proprietary features of this lidar sensor is its
capability to output the axial, lateral and vertical velocity of
moving objects at 30 hertz,” added Sharma. “We believe no lidar
product on the market, ranging from frequency modulated continuous
wave to time-of-flight, has this capability. To achieve safety and
successful autonomous driving, we believe this capability delivered
at low latency will be a key feature.”
About MicroVision
MicroVision is the creator of innovative MEMS
scanning technology and solutions based on the laser beam scanning
methodology pioneered by the Company. The Company combines its
hardware, software, and algorithms to unlock value for its
customers by providing them a differentiated advanced solution for
a rapidly evolving lidar sensor, augmented reality, interactive
display and consumer lidar market.
For more information, visit the Company’s
website at www.microvision.com, on Facebook
at www.facebook.com/microvisioninc or follow MicroVision
on Twitter at @MicroVision.
MicroVision is a trademark of MicroVision, Inc.
in the United States and other countries. All other trademarks are
the properties of their respective owners.
Forward-Looking Statements
Certain statements contained in this release,
including those relating to pursuing strategic opportunities,
progress in the development of a Long-Range Lidar Sensor, ability
to meet key automotive industry requirements, potential sales of
Long-Range Lidar Sensors, demonstration of key lidar features,
ability to achieve development goals, potential automotive industry
standards, availability and performance of features in future
products, confidence in the Company’s ability to implement features
in future products, support from suppliers, strategic advantages of
the Company’s technology, applications and features of MicroVision
technology, and those containing words such as “believe,” ”will,”
“could,” “potential,” and “expect” are forward-looking statements
that involve risks and uncertainties. Factors that could cause
actual results to differ materially from those projected in the
forward-looking statements include the risk that the Company may
not succeed in finding licensing or other strategic solutions,
including a potential sale of the Company, with acceptable timing,
benefits or costs, the Company’s ability to operate with limited
cash or to raise additional capital when needed; market acceptance
of the Company’s technologies and products or for products
incorporating its technologies; the failure of commercial partners
to perform as expected under agreements, including from the impact
of the COVID-19 (coronavirus); the Company’s ability to identify
parties interested in paying any amounts or amounts we deem
desirable for the purchase or license of intellectual property
assets; the Company’s or its customers’ failure to perform under
open purchase orders, the Company’s financial and technical
resources relative to those of its competitors; the Company’s
ability to keep up with rapid technological change; government
regulation of the Company’s technologies; the Company’s ability to
enforce its intellectual property rights and protect its
proprietary technologies; the ability to obtain additional contract
awards and develop partnership opportunities; the timing of
commercial product launches and delays in product development; the
ability to achieve key technical milestones in key products;
dependence on third parties to develop, manufacture, sell and
market Company products; potential product liability claims; the
Company’s ability to maintain its listing on the Nasdaq Stock
Market, and other risk factors identified from time to time in the
Company's SEC reports, including the Company's Annual Report on
Form 10-K filed with the SEC. These factors are not intended to
represent a complete list of the general or specific factors that
may affect the Company. It should be recognized that other factors,
including general economic factors and business strategies, may be
significant, now or in the future, and the factors set forth in
this release may affect the Company to a greater extent than
indicated. Except as expressly required by federal securities laws,
the Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, changes in circumstances or any other
reason.
Investor Relations ContactDavid
H. AllenDarrow Associates, Inc.408.427.4463dallen@darrowir.com
Photos accompanying this announcement are available at
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