Spectral color

Vuzix Signs Agreements to Provide World’s First Fully Integrated Color MicroLED Microdisplay for AR Glasses

μ Key Exclusive LicenseLED technologydesign of a state-of-the-art backplane, with the ultimate goal of acquiring Atomistic

ROCHESTER, NY, May 18, 2022 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or the “Company”), a leading provider of smart glasses, waveguides and augmented reality (AR) technology, today announced that it has signed an series of agreements with Atomistic SAS (“Atomistic”), a new generation micro light-emitting diode (“µLED”) display solutions company based in France. These agreements provide for an exclusive license of key µLED technology, the design of a custom backplane and, depending on the completion of the various technical stages, the ability to acquire the business.

Atomistic’s technology is based on new innovation in materials science with specific attributes that are key enablers in solving key challenges for µLED devices for AR applications: emitters for red, green and blue spectral wavelengths based on a single epitaxial structure transferred onto a CMOS backplane; high brightness; and greater efficiency at small pixel pitches. The potential benefits of this new approach would result in one of the smallest form factors with the highest performing, lowest power solutions on the market, and could provide core technology focused on AR markets that are expected to require hundreds millions of units annually.

For the AR and Heads-Up Display (HUD) markets, there is a clear need for ultra-small self-emissive micro-displays that are high-brightness and efficiency, color, compact, and scalable to support low-cost, high-volume manufacturing. For the wearable display/AR glasses markets in particular, µLED displays as envisioned by Atomistic combined with Vuzix’s transparent waveguides provide the technical solution that is so essential to the development of ergonomic, cutting-edge AR glasses. This market is ultimately expected to be as large as the current smartphone market, and many expect AR smart glasses to be the future mobile computing platform for consumers and businesses around the world.

Atomic background:

Atomistic was created for the sole purpose of delivering the next generation µLEDs based on new innovations in materials science and system-level integration on advanced node CMOS backplanes of its own design. Its main founders, Jonathan Sachsdoctorate and Jerry WoodallPhD, are well-known experts in the fields of materials science, compound semiconductor heterojunction (as well as other compound semiconductor devices), LEDs, lasers, and microdisplays on silicon backplanes using various modulation techniques and have both developed and patented important and fundamental advances in the field of technology.

Dr. Sachs has extensive knowledge of semiconductor materials and their applications to high temperature and high speed electronics, optoelectronics, electrical and optical properties of materials (LEDs, lasers), device physics and in the design of CMOS integrated circuits. Over the past 25 years, he has founded and led numerous semiconductor and display technology companies whose technology is used today by leading companies in the field.

Dr. Woodall has played a pioneering role in the research and development of compound semiconductor materials and devices during a career spanning five decades. In 2001, Dr. Woodall received the National Medal of Technology and Innovation, the nation’s highest honor for technological achievement awarded by the President of United States. He has been cited for inventing and developing technologically and commercially important compound semiconductor heterojunction-related materials, processes, and devices, such as red and infrared LEDs, lasers, ultra- fast and solar cells. He pioneered liquid-phase epitaxial growth of high-output infrared LEDs, leading to his most significant research contribution to date: the first aluminum gallium arsenide/gallium arsenide heterojunction. , the interface between two different semiconductor materials. This remains one of the most important compound semiconductor heterojunctions in the world.

Technological background

Atomistic has developed a new approach to solving the fundamental challenges associated with the very small pixel pitch, exceptionally bright color uLED displays required for the AR market and its closely associated markets.

The Atomistic team, with system-level support from Vuzix, will provide a backplane on advanced 300mm wafers intended to support µLEDs based on its innovative materials science as well as alternative LEDs from potential third-party vendors.

“Being in the semiconductor industry specializing in LEDs and micro-displays for all these years, we have created countless solutions that have advanced the state of the art; from the fundamentals of the physics of heterojunctions to advanced displays in LCoS and OLED with Vuzix on advancing this advanced technology where we have lived our entire professional career should result in one of the most advanced displays we have ever developed. of the Vuzix team will be invaluable in helping us ensure that the system-level solution achieves its product intent. We are very pleased to be part of this effort with Vuzix as our partner,” said Drs. Sachs. and Woodall.

“We are thrilled to partner with these two groundbreaking visionaries and their new entity Atomistic,” said Paul Travers, President and CEO of Vuzix. “We look forward to supporting their efforts to change the world with new microdisplays that will work ‘hand-in-hand’ with Vuzix’s industry-leading waveguides. This agreement has been structured to strongly align the two principles, and Atomistic as a company, to the success of the program and ultimately with Vuzix.The solutions developed will be used in Vuzix’s own products and, in the future, µLED displays coupled with advanced Vuzix high-volume waveguides will be offered globally to third-party OEMs for use in their AR glasses.”

For more details on this transaction and its related agreements, interested parties may refer to the 8-K the company filed today with the SEC, with links from our IR website.

Conference call information

Date: Wednesday, May 18, 2022
Weather: 4:30 p.m. Eastern Time (HEY)
Call number for US and Canadian callers: 877-709-8150
Call number for international callers (outside the United States and Canada): 201-689-8354

A live and archived webcast of the conference call will be available on the Investor Relations page of the Company’s website at: https://ir.vuzix.com/ or directly to https://event.choruscall.com/mediaframe/webcast.html?webcastid=Sz8swsuw.

The Chairman and Chief Executive Officer and Chairman of Vuzix will present at the call Paul Traverswho, together with the financial director Grant Russel and Chief Operating Officer Pete Jameson, will host a Q&A session on the call following prepared remarks.

To join the live conference call, please dial the telephone numbers referenced above five to ten minutes prior to the scheduled conference call time.

A telephone replay will be available for 30 days from May 18, 2022around 5:30 p.m. (ET). To access this replay, please dial 877-660-6853 in the United States or Canada, or 201-612-7415 for international callers. The call replay ID number is 13730166.

About Vuzix Corporation

Vuzix is ​​a leading provider of smart eyewear and augmented reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal displays and portable computing devices that provide users with a high-quality portable viewing experience, provide solutions for mobility, portable displays and augmented reality. Vuzix holds 245 patents and patents pending and numerous IP licenses in the field of video eyewear. The company has won innovation awards at the Consumer Electronics Show (or CES) for the years 2005 to 2022 and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is ​​a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, United Kingdomand Tokyo, Japan. For more information, visit the Vuzix website, Twitter and Facebook pages.

Disclaimer of Forward-Looking Statements

Certain statements contained in this press release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. The forward-looking statements contained in this release relate to our business relationship with Atomistic, the level of success of µLED and associated backplane developments, ultimate processes and solutions for actual on-time commercialization, and among others the company’s leadership in the smart glasses and AR display industry. They are usually identified by words such as “believes”, “may”, “expects”, “anticipates”, “should” and similar expressions. Readers should not place undue reliance on these forward-looking statements, which are based on 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 matters described in more detail in the “Risk Factors” section of the Company’s annual reports and MD&A filed with the Securities and Exchange. United States 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 changes in events or circumstances after the date of this release, except as required by applicable law.

Vuzix Media Contact and Investor Relations:

Ed McGregorDirector of Investor Relations,
Vuzix Company
[email protected]
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 United States,
Investor information – [email protected] www.vuzix.com

SOURCEVuzix Corporation