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.