PixTech Awarded $4.7 Million DARPA Program
PixTech to Develop 12.1-inch Field Emission Displays for U.S. Military
Applications
BOISE, Idaho--(BUSINESS WIRE)--Aug. 5, 1999--PixTech, Inc. (NASDAQ/NM and EASDAQ: PIXT) today announced that it has been awarded a development contract by DARPA (Defense Advanced Research Projects Agency).
Under the terms of the contract, PixTech will receive approximately $4.7 million to develop and produce a ''Low-Power,Wide Angle of View, Spatial Color Field Emission Display (FED) for Rapid Information Update Applications.''
As a result of its recent acquisition of Micron's Display Division, PixTech has greatly strengthened its development team, which will accelerate its efforts to develop and manufacture large FEDs. PixTech's field emission displays offer a lightweight, low power, durable display solution that provides enhanced viewing features to the end user. Dieter Mezger, PixTech's President and CEO stated, ''We are honored to be part of this program and we look forward to providing our advanced FED technology to the United States Armed Forces.''
James J. Cathey, PixTech's Vice-President of worldwide Sales and Marketing, added, ''FED technology offers the display solution that best meets the challenges of the demanding military environment. We believe Pixtech's FED technology will raise the bar in terms of display performance, including wide viewing angles and superb clarity, which can enhance the benefits of many of the advanced applications currently in military use. It is exciting to be awarded this grant by DARPA, which recognizes the need for the United States Armed Forces to leverage new and advanced technologies.''
United States Army Colonel Joseph Murray, said, ''The Field Emission Flat Panel Display technology being developed by PixTech is a revolutionary capability with significant potential to support ground combat vehicles. The Army is harnessing the new digital technology to its ground forces and the development of a high resolution flat screen will greatly increase the warfighters ability to perform his duties.''
Rick Wyrembelski of General Dynamics Land Systems also commented, ''Without dependable, affordable, high resolutions displays, information cannot be effectively communicated to soldiers in the battlefield situation. Field emission displays have the potential to meet vehicle environmental and performance demands thereby assuring an enhanced situational awareness for the soldier.''
On May 19, 1999 PixTech acquired Micron Display, A Division of Micron Technology which previously held the development contract. This contract was novated to transfer obligations from Micron Technology.
About PixTech, Inc.
PixTech designs, develops and manufactures field emission displays (FEDs), a new type of flat-panel display. The Company operates a flat-panel display pilot manufacturing facility in Montpellier, France, R&D facility in Boise, Idaho, with offices in Boise (Idaho), Santa Clara (California), and Rousset (France). PixTech is currently developing high-volume manufacturing capabilities for its FEDs in Taiwan under a contract manufacturing arrangement with Unipac, a Taiwanese AM-LCD manufacturer. PixTech has also established a marketing partnership with Sumitomo Corporation, the exclusive distributor in Japan. More information is available from the Company's web site at pixtech.com
Statements that are not historical facts, including statements about PixTech's confidence and strategies, the development of new or existing products, technologies and opportunities, marked demand or acceptance of new or existing products are forward-looking statements that involve risks and uncertainties. These uncertainties include but are not limited to, the risk associated with transitioning to high volume manufacturing of FED displays at Unipac, product demand and market acceptance risks, commitment of Unipac and / or of PixTech licensees, ability of the Company to grant other licenses under FED technology, validity and enforceability of PixTech's patent rights, infringement by PixTech of other patent rights, impact of competitive product and prices, product development, commercialization or technological delays or difficulties, trade, legal, social and economic risks detailed in PixTech's Securities and Exchange Commission filing including its form 10-K for the year 1998 and any subsequent filings.
Contact:
PixTech Inc.
Yves Morel, 33 (0)4 42 29 10 00
ymorel@pixtech.com
Duane Richter, 208/333-7500
drichter@pixtech.com
or
Lippert/Heilshorn & Associates
Lillian Armstrong/Kris Otridge, 415/433-3777
lillian@lhai-sf.com/kris@lhai-sf.com |
