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Vuzix (WKN: A1H5DY)

Vuzix licenses Nokia's see-through optics technology

2011-10-21 08:42 ET - News Release

Mr. Paul Travers reports

VUZIX SECURES LICENSE TO SEE-THROUGH OPTICS TECHNOLOGY FROM NOKIA

Vuzix  Corp. has entered into a technology licence agreement with Nokia to  develop and produce see-through waveguide optics for use in near-eye  display (NED) systems (head-mounted displays and video eyewear) based on  Nokia's proprietary see-through (exit pupil expanding) EPE optics  technology. The agreement, combining Vuzix and Nokia technology, is  expected to accelerate the development and introduction of new NED  products to the market.

Under the agreement, Vuzix will perform  continuing research and development and is expected to manufacture and  bring to market components and products containing the licensed  technology. In addition, Vuzix will provide Nokia with access to its  products and components which incorporate the licensed technology.

The  see-through EPE technology has been developed and prototyped by Nokia  over the past decade in various configurations. Vuzix believes that it   has the potential to form the basis for sunglass-styled video eyewear,  which could be manufactured in high volume and appeal to mass consumer  markets.

"We believe that Nokia's EPE technology solves a long  missing piece in the NED business for creating sunglass-style video  eyewear," said Paul Travers, Vuzix president and chief executive  officer. He added, "Integrate this Nokia technology with Vuzix's  advanced display engine developments with partners like Fraunhofer IPMS,  and we expect to be able to offer the video glasses that Hollywood and  sci-fi writers have only been able to imagine."

Jyri Huopaniemi,  director and head of the Nokia Research Center Media Technologies  Laboratory, said: "Vuzix's specialized expertise in video eyewear will  be critical in driving the further development of EPE technology and  ensuring its integration in new consumer products. We are excited to be  enabling a new era of innovation."

We seek Safe Harbor.