U.S. Navy Establishes Partnership With Microvision, Identifies RetinalScanning as Baseline By Which Optical Technologies Will Be Measured
Memorandum Between Navy And Microvision Heralds Technology for Its Potential
In Enhancing Warfighter Information Display Capabilities
SEATTLE, Nov. 16 /PRNewswire/ -- The U.S. Navy has established a partnership with Microvision, Inc. (Nasdaq: MVIS, MVISW) to enhance warfighter information display capabilities through the development and application of Microvision's Virtual Retinal Display (VRD) technology, also referred to as retinal scanning display technology (RSDT), Microvision announced today. In a signed memorandum, the Navy stated that it has identified RSDT as a "state-of-the-art" optical technology that serves as a "baseline" by which all other optical technologies will be measured. The Navy also stated that it recognizes "RSDT's potential to improve Navy helmet display capabilities in numerous mission areas and advance warfighting capabilities of air, surface and sub-surface crewman by providing readable, scalable, full-color images of remote information directly onto the retina, thus bypassing conventional displays."
Rick Rutkowski, president and CEO of Microvision, said, "This is a truly important milestone for Microvision and a powerful endorsement for our retinal scanning technology. In the often complex process of technology development and acquisitions within the Armed Services, it is tremendously important to begin with a clearly defined set of requirements, objectives and methods for communicating. This agreement with the Navy establishes all of these things. Because we set out with the big picture in mind, we can achieve the appropriate kind of visibility for such a strategic initiative and we can maximize the efficiency of the entire process to the benefit of all of the parties involved."
In addition to identifying a broad range of naval requirements and applications for Microvision's technology, the Navy has also declared its support for working with other branches of the military to increase commonality in display systems. Such efforts to meet common requirements with "joint service" initiatives have become a high priority within the Department of Defense, as they maximize purchasing power among all service branches and also help to optimize the pace of innovation. Microvision is currently working on two advanced display programs for the U.S. Air Force and two for the U.S. Army. The company's VRD system not only provides a common platform across all military branches, but also across multiple applications. For example, Microvision's recently announced head-wearable display for use on board Navy boats includes technology components that can be incorporated into naval aircraft, submarines and maintenance facilities.
"This partnership affirms the Navy's position as a progressive organization on the leading-edge of new display technology adoption," Rutkowski said. "It's this type of visionary leadership that will help us bring retinal scanning products to the military and the commercial marketplace."
About Microvision
Headquartered in Seattle, Microvision, Inc. (Nasdaq: MVIS, MVISW) is the developer of the patented Virtual Retinal Display(TM) (VRD(TM)) technology that uses patterns of light to create 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-KSB and Quarterly Reports on Form 10-QSB, as filed with the Securities and Exchange Commission.
SOURCE Microvision, Inc.
CO: Microvision, Inc.
ST: Washington
IN: ARO
SU: CON
11/16/98 10:31 EST prnewswire.com
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