Howcum you guys have not touted this sell on the news stuff? : "Microvision Makes Strategic Investment in Laser Development
3/17/0 6:45 (New York)
Company
Technology is Expected to Enable Laser-Scanning Projection Display Systems
BOTHELL, Wash., March 17 /PRNewswire/ -- Microvision, Inc. (Nasdaq: MVIS)
today announced that it has made a strategic equity investment in Gemfire
Corporation, a closely-held, Palo Alto, California-based developer of
high-intensity laser light sources.
Gemfire has developed proprietary technologies utilizing standard,
low-cost components and planar processing techniques to enable volume
production of high-brightness red, green and blue laser sources. In
conjunction with Microvision's heavily patented beam-scanning technologies,
these light sources are expected to enable direct-view, rear-projection
displays, as well as a wide variety of high performance head-mounted display
solutions based on Microvision's retinal scanning display technology. Other
strategic investors in Gemfire's recently completed private placement include
Intel, Eastman Kodak, Ricoh, and venture capital firms Kleiner, Perkins,
Caufield and Byers and Mohr Davidow Ventures.
Todd McIntyre, Microvision Vice President of Business Development said,
"These higher power lasers will enable Microvision to target markets for
larger format projection enclosures. There is a growing demand for
high-resolution rear-projection displays in the 22" - 30" range to serve as
monitors for the next generation for desktop computing."
According to McIntyre, Cathode Ray Tubes (CRTs) become bulky, heavy and
prohibitively expensive in this size range; similarly, liquid crystal and gas
plasma screens have also proven difficult to scale to this size range at
reasonable quality and cost. Stanford Resources, Inc., a leading market
research firm, forecasts a market for projection displays that could grow to
$11 billion by the year 2004.
Microvision's system design will use the company's micro-optical scanners
to steer intensity-modulated beams of red, green and blue lasers across a
screen at ultra-fast speeds to paint full-motion high-resolution video images
in a fashion similar to the scanning electron beam in a CRT. However, the
optical beam path can be "folded" by using mirrors thereby enabling a much
flatter enclosure than a CRT of equivalent screen size. Because there is no
requirement for a vacuum in the light scanning system, the thick (and heavy)
glass required for CRTs is also eliminated, making the system much lighter
than a comparable CRT. Microvision has previously demonstrated laser-scanning
projection, but has not released details on when it might demonstrate a system
utilizing Gemfire's laser technology.
"Our investment in Gemfire is consistent with our strategy of partnering
with leading innovators in light source technology," said Rick Rutkowski,
Microvision President and CEO. "We are tremendously excited about Gemfire's
technology. Their production approach could bring high power lasers into a
whole new cost range that would enable laser-scanning monitors to address a
growing void in a very large market."
Rick Tompane, CEO of Gemfire said, "We're delighted to welcome Microvision
as a strategic investor and new partner with Gemfire. Not only are we pleased
to be associated with another dynamic company that is at the forefront of new
display technology, but we believe that Microvision's products will represent
an important early market opportunity for Gemfire."
About Gemfire
Gemfire Corporation is an integrated optics company, headquartered in
California's Silicon Valley. With funding from premier venture capitalists,
corporate investors, and government agencies including DARPA and NASA, Gemfire
is developing highly integrated photonic devices for information technology
markets. Initial products, expected to be introduced in 2001, will leverage
the advantages of solid state lasers coupled to electro-optic media in the
fields of displays and telecommunications. Additional information can be
obtained by visiting the company's website at www.gemfirecorp.com.
About Microvision
Headquartered in Bothell, Wash., Microvision, Inc. is the developer of the
patented Retinal Scanning Display technology that uses a rapidly scanned beam
of light to project images on the eye's retina, allowing the viewer to see
large, full-motion images without the need for a conventional display screen.
Microvision's objective is to be a leading provider of personal display
products and imaging technology in a broad range of military, medical,
industrial, professional and consumer applications. The company was founded
in 1993. Additional information can be found at the company's website at
mvis.com.
Forward-Looking Statement
The information set forth in this release includes "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange Act
of 1934, as amended, and is subject to the safe harbor created by those
sections. Certain factors that realistically could cause results to differ
materially from those projected in the company's forward-looking statements
are set forth in the company's Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, as filed with the Securities and Exchange Commission.
For more information on Microvision via fax, at no cost, dial
800-PRO-INFO, ticker symbol MVIS.
SOURCE Microvision, Inc.
-0- 03/17/2000
/CONTACT: media, Matt Nichols, mattn@mvis.com, or investors, Holly Ash,
hollya@mvis.com, both of Microvision, Inc., 425-415-6657; or Paige Young of
Parker LePla, 206-285-5280, or Paige@parkerlepla.com, for Microvision, Inc./
/Web site: gemfirecorp.com
/Web site: mvis.com |
