ROCHESTER, NY, September 26, 2023 – Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that it has certified and commenced sampling waveguides for both in-house and OEM programs at its new state-of-the-art mega manufacturing facility, meeting the Company’s timeline objectives. Initial waveguides are targeted for use in products based on the Company’s Ultralite OEM PlatformSM.
This production facility is located adjacent to the Company’s headquarters and currently encompasses 12,000 square feet of primarily class 1K and class 10K clean rooms. Vuzix has the option to lease the building’s remaining 27,000 square feet when increased product demand warrants it. This new facility augments an additional ~10,000 square foot production facility located in the Company’s headquarters. In addition to significantly increasing unit capacity and lowering manufacturing costs, the new facility will also focus on the advancement of higher index materials, advanced glass substrates and unique formulation technologies. Broad in-house capabilities also include rapid specification to design, mold production, replication and test, system integration, and waveguide fabrication that will now include small and large format waveguide designs. This unique waveguide manufacturing facility enables not only the anticipated multi-billion-dollar augmented reality smart glasses market but other large markets like heads-up displays for in-vehicle use cases and more.
An official ribbon cutting ceremony is slated to take place in early December of this year.
“We believe this is a one-of-a-kind production facility, one that significantly leverages our years of waveguide expertise from design through to production,” said Paul Travers, President and CEO of Vuzix. “Waveguides represent a fundamental cornerstone technology to the AR wearables industry and this facility was specifically designed and built from the ground up to make them in high volumes and at industry-leading competitive costs.”
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense and consumer markets. The Company’s products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 325 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and augmented reality Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2023 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; Munich, Germany; and Kyoto and Tokyo, Japan. For more information, visit the Vuzix website, Twitter and Facebook pages.
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 to the Company’s new waveguide plant including capacities, timing, capabilities, future waveguide technologies, Vuzix Smart Glasses and among other things the Company's leadership in the Smart Glasses 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.
Vuzix Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations,
Vuzix Corporation
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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