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|Microvision and Fraunhofer Renew Research and Development Relationship|
Business Editors/Technology Writers
REDMOND, Wash.--(BUSINESS WIRE)--Oct. 10, 2006--Microvision, Inc. (Nasdaq:MVIS), the leader in light scanning technologies for display and imaging products, formally announced today its strategic technology development relationship with the Fraunhofer Institute for Photonic Microsystems (IPMS). Microvision and Fraunhofer IPMS have been engaged for several years in the development of MEMS scanning mirrors optimized for several large-volume display and imaging applications. Microvision is the exclusive commercial partner of Fraunhofer IPMS for 2D MEMS scanners targeted for display and certain imaging applications.
The development relationship with Fraunhofer IPMS augments Microvision's world-leading expertise in the design and production of MEMS scanning mirrors and positions Microvision to supply a variety of scanning solutions to its partners. MEMS scanners are a key component to Microvision's Integrated Photonics Module (IPM(TM)) platform, which is expected to deliver miniature display engines for mass market OEM applications, such as a full-color projection display embedded into a mobile phone. Fraunhofer IPMS is an internationally recognized research and development institute for MEMS.
"We are very pleased to formally announce that Microvision and Fraunhofer have been, and continue to be, engaged in a very fruitful research partnership that has yielded strong technical results and provides exciting new product avenues for the company to exploit," said Alexander Tokman, Microvision President and CEO. "We are excited about the many display and imaging applications that can be enabled by the combination of talents and technologies of our teams."
Harald Schenk, deputy director of Fraunhofer IPMS, said "We can't think of a more natural partnership than one with Microvision, which has been a pioneer in MEMS projection display applications. We are excited to continue this cooperation and to provide IPMS' MEMS scanner technology for the development of highly innovative display and imaging applications."
Fraunhofer IPMS developed the scanner for a recently publicized prototype laser projector the size of a sugar cube. The miniature projector is less than 16mm wide, 9mm high and 9mm deep. The prototype projector houses a tiny silicon MEMS scanning mirror that scans light from a red laser diode to create an image.
"Microvision's full-color PicoP(TM) projector prototype and the sugar cube projector from Fraunhofer IPMS are generating interest worldwide," said Tokman. "Both demonstrate the powerful miniaturization capabilities of MEMS laser scanning technology. Our IPM platform strategy is to implement the very best component technologies to deliver the most cost-effective miniature display and image capture solutions to our customers worldwide. This year we have made a series of external strategic investments to accelerate and enhance the development of the IPM based components. One strategic investment was the development of a miniature green laser light source. Now we are also investing to ensure that Microvision can increase its already substantial lead in the MEMS scanning component."
Headquartered in Redmond, WA, Microvision, Inc. is the world leader in the development of high-resolution displays and imaging systems based on the company's proprietary silicon micro-mirror technology. The company's technology enables solutions and products in a broad range of industrial, consumer, military, and medical applications. For more information about bar code products, please visit www.flicscanner.com. For more information about Microvision's display capabilities, please visit www.microvision.com.
About Fraunhofer IPMS:
Fraunhofer Institute for Photonic Microsystems (IPMS) is one of 58 independent Institutes of the Fraunhofer Society, Europe's largest organization for applied research and development. Fraunhofer IPMS carries out customer and application specific research, development and fabrication of highly innovative photonic microsystems, such as light modulating devices (scanners, micro mirror arrays), light emitting devices (Organic Light-Emitting Diodes) and optical detectors (photodiodes, integrated optoelectronics), as well as system development based on proprietary sensors and actuators or commercially available components. Fraunhofer IPMS maintains a 1000 m2 class 10 clean room focused on MEMS/MOEMS technologies and CMOS compatible special processes. For further information, visit www.ipms.fraunhofer.de.
Certain statements contained in this release, including those relating to future commercialization of technology and product applications, and statements using words such as "expects," are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company's forward-looking statements include the following: capital market risks, our ability to raise additional capital when needed; market acceptance of our technologies and products; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; our dependence on the defense industry and a limited number of government development contracts; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims, risks related to Lumera's business and the market for its equity and other risk factors identified from time to time in the company's SEC reports and other filings, including the Company's Annual Report on Form 10-K filed with the SEC. Except as expressly required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
CONTACT: Microvision, Inc.