Microvision Signs Multi-Year Agreement with OSRAM for Supply of Green and Blue Lasers
REDMOND, Wash.--(BUSINESS WIRE)-- Microvision, Inc. (Nasdaq:MVIS), a global leader in innovative ultra-miniature projection display and image capture products for mobility applications announced today that it has entered into a supply agreement with OSRAM Opto Semiconductors GmbH for the supply of green and blue lasers -- key components of Microvision's PicoP(R) display engine. The announcement is the second Microvision has made in recent months regarding procurement of green lasers for use in the company's PicoP(R) display engine and accessory pico projector product called SHOWWX(TM).
Following recent success commercializing its blue laser technology, OSRAM has fourth quarter commercialization plans for its green frequency doubled laser for use in Microvision's PicoP display engine. OSRAM is one of the world's leading manufacturers of optoelectronic semiconductors for lighting, sensor and visualization applications.
"We see a significant market opportunity for pico projectors," said Frank Moellmer, Vice President & General Manager, Business Segment Infrared of OSRAM Opto Semiconductors. "Our focused multi-year effort to develop efficient frequency doubled green lasers for consumer applications has positioned us to begin commercial production soon. We look forward to supporting the very large market opportunity offered by pico projection display technologies as developed by Microvision."
"OSRAM has extensive laser development and manufacturing experience and we are pleased to leverage the significant progress the OSRAM team made in the development and commercialization of compact, high-speed blue and green lasers for our products," said Alexander Tokman, President and CEO of Microvision. "We look forward to continuing our strategic relationship with OSRAM to enable high volume PicoP based products and applications."
About Microvision, Inc.
Microvision provides the PicoP display technology platform designed to enable next-generation display and imaging products for pico projectors, vehicle displays, and wearable displays that interface with mobile devices. The company's projection display engine uses highly efficient laser light sources which can create vivid images with high contrast and brightness. For more information, visit the company's website (www.microvision.com) and corporate blog (www.microvision.com/displayground).
ABOUT OSRAM OPTO SEMICONDUCTORS
OSRAM is part of the Industry sector of Siemens and one of the two leading lighting manufacturers in the world. Its subsidiary, OSRAM Opto Semiconductors GmbH in Regensburg (Germany), offers its customers solutions based on semiconductor technology for lighting, sensor and visualization applications. OSRAM Opto Semiconductors has production sites in Regensburg (Germany) and Penang (Malaysia). Its headquarters for North America is in Sunnyvale (USA), and for Asia in Hong Kong. OSRAM Opto Semiconductors also has sales offices throughout the world. In the 2008 fiscal year (to the end of September) OSRAM Opto Semiconductors employed more than 4600 people and achieved sales totaling 529 million euros. For more information go to www.osram-os.com.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those relating to commercialization plans, future products, product applications and market opportunity, 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: our ability to raise additional capital when needed; the risk of market acceptance of our technology and products, our financial and technical resources relative to those of our competitors; our planned future products dependence on advances in technology by other companies, our ability to keep up with rapid technological change; our ability to enforce our intellectual property rights and protect our proprietary technologies; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; our ability to secure needed third party manufacturing and sales resources, dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims and other risk factors identified from time to time in the Company's SEC reports, 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.
Source: Microvision, Inc.
Released August 6, 2009