Vuzix Announces Partnership to Develop Next Generation AR Smart Glasses Using Plessey microLED Technology

ROCHESTER, N.Y., May 31, 2018 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets, is pleased to announce that the Company is partnering with Plessey Semiconductor, a leading developer of award-winning optoelectronic solutions.  The two companies are partnering to develop advanced display engines for Vuzix waveguide optics to enable next generation AR Smart Glasses.  The combination of Vuzix' extensive expertise and IP in smart glasses and waveguide optic technologies along with Plessey's microLED light source product family, Quanta-Brite™ will be the basis for a new generation of AR Smart Glasses with the sleekest form factors to date.

In the development of its next-generation waveguide based products, Vuzix has selected Plessey's microLED-based Quanta-Brite™ light engine, which delivers extremely high efficiency with significant improvements in lumen output compared to other light sources currently available on the market.  The smaller and more efficient microLED based Quanta-Brite™ light engine will not only result in less energy consumption and improved battery life, but also enables Vuzix to cut a significant amount of volume from the display engine in future generations of our waveguide based smart glasses, while at the same time delivering improved optical performance at a reduced cost. 

Quanta-Brite™ is based on Plessey's advanced and proprietary gallium-nitride-on-silicon (GaN-on-Si) technology, with an integrated monolithic array of RGB pixels with advanced micro-optical elements to create a bright, largely collimated and highly uniform light source for the illumination in advanced display engines.  The resulting optical system is up to 50% smaller, lighter, simpler and cheaper than incumbent solutions and the high performance microLED emitters combined with minimal optical system losses result is significantly increased power efficiency. Size, weight and power reduction are key considerations in AR/MR wearables. Quanta-Brite™ has been designed specifically for the next generation of Vuzix personal display systems.

The combination of Vuzix' recently announced collaboration with Qualcomm around the Snapdragon XR1 platform and Plessey's Quanta-Brite™ microLED™ technology along with our next generation waveguide optics should enable Vuzix to develop powerful AR smart glasses in form factors nearly indistinguishable from regular eyeglasses.  These new AR Glasses, expected to be introduced in 2019, should lead the market in terms of processing power designed for AR, overall imaging performance and most importantly style,

"This development with Vuzix, the leading provider of next-generation augmented reality glasses, is a significant endorsement of Plessey's GaN-on-silicon microLED approach," said Dr Keith Strickland, Chief Technology Officer at Plessey. "Monolithic microLED technology is fast emerging as the only one that can provide high luminance in a very small form factor with minimal energy consumption, necessary for reducing costs and enabling lightweight battery-powered products for a range of emerging consumer and industrial applications."

"Plessey's Quanta-Brite™ microLED™ technology can be a major enabler of the future of augmented reality," said Vuzix President and CEO Paul Travers. "As well as delivering high-efficiency, low-power and small-size illumination capabilities, the very high level of luminescence of the Quanta-Brite™ light source can also enable the development of end products with a sleeker form factor, which is a key attribute of our waveguide based Smart Glasses and critical to mass market adoption."

About Plessey

Plessey is a leading expert in the development and licensing of technologies that are revolutionizing the solid-state lighting sector. With its in-depth understanding and breadth of patents relating to GaN-on-Silicon, the company has established itself as a valued IP partner to OEMs producing the next generation of photonics solutions. Plessey has been successfully licensing its pioneering sensor technology solutions within the healthcare and automotive sectors for many years.

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 65 patents and 44 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 2018 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.

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 Plessey Semiconductor as well as the Company's leadership in the Video Eyewear, VR 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.

Media and Investor Relations Contact:

Matt Margolis, Director of Corporate Communications and Investor Relations, Vuzix Corporation [email protected] Tel: (585) 359-5952

Ed McGregor, Director of Institutional Investor Relations, Vuzix Corporation [email protected] Tel: (585) 359-5985

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

SOURCE Vuzix Corporation

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