25 April 2024
Tekcapital Plc
("Tekcapital")
Innovative Eyewear, Inc. Announces New Patent
Filings and
Receipt of Notices of Allowance on Smart
Safety Eyewear
Tekcapital Plc (AIM: TEK), the UK
intellectual property investment group notes that Innovative
Eyewear, Inc. ("Innovative Eyewear" or "Innovative") (NASDAQ: LUCY;
LUCYW), the developer of ChatGPT enabled smart eyewear under the
Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, is pleased to
announce of two new United States patent applications, a utility
application, No. 18/605,092, entitled SMART EYEWEAR HAVING
ACCESSIBLE TACTILE CONTROLS and a design application, No.
29/930,655, entitled SAFETY EYEWEAR.
Innovative Eyewear also has
announced receipt of notices of allowance on three smart eyewear
design patent applications (patent application Nos. 29/806,204,
29/806/207, 29/806/209). Receipt of a Notice of Allowance indicates
that claims in the patent applications are patentable, and
Innovative Eyewear expects design patents to be issued from these
three allowed applications after payment of issue
fees.
The two new patent applications are
directed to the Innovative Eyewear's new Lucyd Armor smart safety
glasses product, planned for introduction in mid-2024. The new
utility patent application is directed to functional aspects of
product, whilst the new design patent application is directed to
the ornamental design of the product. The Company developed Lucyd
Armor to meet the needs of industrial and medical safety glass
users.
Innovative Eyewear CEO Harrison Gross said:
"Lucyd Armor smart safety glasses
are a unique product and the culmination of rigorous in-house
R&D, which we are thrilled to bring to the personal protective
equipment market. We believe these products will deliver a
cutting-edge experience to safety glass users around the world,
making it easier than ever for industrial workers to communicate
handsfree in a wide range of environments. We are commencing
testing to ensure our smart safety eyewear meets US Occupational
Safety and Health Administration Agency's standards and
expect to have the glasses available to consumers in the coming
months. In addition to our direct-to-consumer channels such as
Amazon and BestBuy.com, we look forward to launching Lucyd Armor in
hardware and home improvement stores, developing an entirely new
vertical for the company."
Safety glasses represent an
important segment of both the personal protective equipment and
eyewear markets, which is expected to grow to US$4.18bn by
2030[1]. Safety glasses are required
equipment for a multitude of occupations, from construction sites
and warehouses to operating rooms and research facilities around
the globe. By combining the safety features of this class of
eyewear with Innovative Eyewear's open-ear communication and AI
features, the Company believes the product will make it easier and
safer than ever for teams to collaborate in a variety of work
environments. To support team communications, Innovative Eyewear's
free Vyrb app for iOS and Android provides verbal VOIP chatrooms
for up to 100 participants at a time.
Lucyd
Armor smart safety glasses.
Courtesy
of Innovative Eyewear Inc.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer
and retailer of cutting-edge smart eyewear, under the Lucyd®,
Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to
Upgrade Your Eyewear®, our
Bluetooth audio glasses allow users to stay safely and
ergonomically connected to their digital lives and are offered in
hundreds of frame and lens combinations to meet the needs of the
optical market. To learn more and explore our continuously evolving
collection of smart eyewear, please visit www.lucyd.co.
Tekcapital currently owns 5,189,086
shares of Innovative Eyewear, Inc. (approximately 40%).
About Tekcapital plc
Tekcapital creates value from
investing in new, university-developed discoveries that can enhance
people's lives and provides a range of technology transfer services
to help organisations evaluate and commercialise new technologies.
Tekcapital is quoted on the AIM market of the London Stock Exchange
(AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
Forward-Looking
Statements
This press release is for
informational purposes only. The information herein does not
constitute investment advice nor an offer to invest and may contain
statements related to our future business and financial performance
and future events or developments involving Innovative Eyewear,
Inc., Lucyd or Tekcapital that may constitute forward-looking
statements. These statements may be identified by words such as
"expect," "look forward to," "anticipate" "intend," "plan,"
"believe," "seek," "estimate," "will," "project" or words of
similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital, Innovative
Eyewear Inc. or Lucyd's management. Please note that these are
subject to a number of risks, uncertainties and factors, including,
but not limited to those described in various disclosures. Should
one or more of these risks or uncertainties materialize or should
underlying expectations not occur or assumptions prove incorrect,
actual results, performance or achievements of Innovative Eyewear
Inc., Lucyd and/or Tekcapital may vary materially from those
described explicitly or implicitly in the relevant forward-looking
statement. Other than as required by relevant regulation or law,
neither Innovative Eyewear Inc, Lucyd nor Tekcapital intends, nor
assumes any obligation, to update or revise these forward-looking
statements in light of developments which differ from those
anticipated.