Microvision Makes Strategic Investment in Laser Development Company Technology
is Expected to Enable Laser-Scanning Projection Display Systems
BOTHELL, Wash., Mar 17, 2000 /PRNewswire via COMTEX/ -- 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.
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
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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.
KEYWORD: Washington
California
INDUSTRY KEYWORD: CPR
SUBJECT CODE: FNC
URL: gemfirecorp.com
mvis.com |
