Microvision Enters Agreement to Develop Automotive Head-Up Display with Global Tier 1 Partner

Microvision Enters Agreement to Develop Automotive Head-Up Display with Global Tier 1 Partner

REDMOND, Wash.--(BUSINESS WIRE)--Microvision (NASDAQ:MVIS - News), the leader in light scanning technologies for display and imaging products, announced today that it has entered into a development agreement with a major global Tier 1 automotive supplier to develop a commercial scanned-beam head-up display (HUD) product for automotive applications. For confidentiality reasons, the name of the Tier 1 supplier and the details of the contract were withheld.

Under the agreement, the Tier 1 and Microvision will design and produce a series of advanced HUD samples, including devices specifically designed to be compatible with demanding automotive environmental requirements. The Tier 1 supplier, working in collaboration with Microvision, is expected to use the HUD samples for the purpose of demonstrating the unique display performance and inherent robustness of Microvision's proprietary laser based scanned-beam display technology, as well as refining the final commercial product requirements.

"We are thrilled to be entering into a collaboration with a world-leading automotive Tier 1 supplier to accelerate the commercialization of our scanned-beam HUD technology," said Alexander Tokman, President and CEO of Microvision. It achieves two critical objectives for us this year. First, this development effort will directly leverage our new Integrated Photonics Module(TM) (IPM) platform. Second, this agreement is also an important milestone, consistent with the strategy and timeline that we have articulated to our stakeholders earlier this year, for getting the company on a solid path to exciting commercial products. We look forward to sharing additional details of our developing relationship with this Tier 1 supplier in the future."

About Microvision: www.microvision.com

Headquartered in Redmond, WA, Microvision, Inc. is the world leader in the development of high-resolution displays and imaging systems based on the company's proprietary silicon micro-mirror technology. The company's technology has applications in a broad range of military, medical, industrial, professional and consumer products.

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