MicroVision Hires Dr. Thomas Luce to Lead EMEA Business Development and Announces Opening of Germany Office
MicroVision (NASDAQ:MVIS) has appointed Dr. Thomas Luce as Vice President of Business Development, focusing on the European and Middle Eastern markets. The company is also set to open a new office in Germany to strengthen ties with automotive OEMs and Tier 1 suppliers. Dr. Luce brings over 25 years of experience in the automotive lighting and optics sectors. CEO Sumit Sharma expressed optimism about enhancing local engagement and meeting customer expectations. Initial feedback from potential partners has been positive, with expectations for the lidar technology to support autonomous driving initiatives.
- Appointment of Dr. Thomas Luce as VP of Business Development expected to strengthen market presence in Europe and the Middle East.
- New office in Germany to enhance partnerships with OEMs and Tier 1 suppliers.
- Positive initial feedback from potential partners regarding lidar technology.
- Concerns about the execution and effectiveness of new business strategies in a competitive market.
REDMOND, WA / ACCESSWIRE / July 26, 2021 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS based solid state automotive lidar and micro-display technology for augmented reality, today announced the hiring of Dr. Thomas Luce as Vice President of Business Development, focused on European and Middle East markets, as well as plans to open a new office in Germany to help promote the Company's automotive lidar technology and sensor to OEMs and Tier 1 suppliers.
"As interest in our lidar technology grows, our presence in Germany allows us to work more closely with potential partners and customers," said Sumit Sharma, MicroVision's Chief Executive Officer. "I am thrilled that Dr. Luce will lead our business development efforts in Europe and the Middle East. Based on the data we have shared to date with OEMs and mobility-as-a-service companies, a local presence will help us work closely to ensure that our LRL sensor meets or exceeds target OEM and Tier 1 expectations. Initial feedback from potential partners and customers has been positive. I am happy about our progress so far. With COVID restrictions lifting and staff starting to return to the office, we look forward to our team moving to track testing of our sensor."
Joining MicroVision on September 1, 2021, Dr. Luce is a seasoned executive with more than 25 years of experience in Automotive Lighting and Optics. He held various leadership roles at Philips Automotive Lighting, Schefenacker, Valeo and Eschenbach Optik. Most recently, he served as CEO for Optoflux GmbH, where he grew the company into a global automotive and optics company, adding LED and lidar optics to the company portfolio. With an extensive career in the automotive area, he has deep insight into the automotive sensor and lighting community. He studied Physics and Chemistry at Heidelberg and Berlin University, as well as Business Administration at Hagen. He earned his PhD with great honor in nonlinear optics at Free University Berlin.
"I am thrilled by the opportunity to join the MicroVision team and to develop the MicroVision business in Europe," said Dr. Luce. "I believe that especially the premium car manufacturers are now strongly pushing for autonomous driving, and I am convinced that the lidar solution MicroVision could provide to its Automotive customers will be an enabler for autonomy and safety for the future. I see a huge potential to capture a significant share of the lidar sensor market and to create value for MicroVision's shareholders."
About MicroVision
MicroVision is a pioneering company in MEMS based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary technology to address existing and emerging markets. The Company's integrated approach uses its proprietary technology to provide solutions for automotive lidar sensors, augmented reality micro-display engines, interactive display modules and consumer lidar modules.
For more information, visit the Company's website at www.microvision.com, on Facebook at www.facebook.com/microvisioninc or follow MicroVision on Twitter at @MicroVision.
MicroVision is a trademark of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
Forward-Looking Statements
Certain statements contained in this release, including those related to the Company's opening of a new office, engaging with potential partners and customers, market opportunity, product features, solutions and applications and building value for shareholders are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include the risk that the Company may not succeed in finding licensing or other strategic solutions, including a potential sale of the Company, with acceptable timing, benefits or costs; its ability to operate with limited cash or to raise additional capital when needed; market acceptance of its technologies and products or for products incorporating its technologies; the failure of its commercial partners to perform as expected under its agreements, including from the impact of COVID-19 (coronavirus); its ability to identify parties interested in paying any amounts or amounts that the Company deems desirable for the purchase or license of intellectual property assets; its or its customers' failure to perform under open purchase orders; its financial and technical resources relative to those of its competitors; its ability to keep up with rapid technological change; government regulation of its technologies; its ability to enforce its intellectual property rights and protect its proprietary technologies; the ability to obtain additional contract awards and develop partnership opportunities; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market its products; potential product liability claims; its ability to maintain its listing on The Nasdaq Stock Market, and other risk factors identified from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K filed with the SEC. These factors are not intended to represent a complete list of the general or specific factors that may affect the Company. It should be recognized that other factors, including general economic factors and business strategies, may be significant, now or in the future, and the factors set forth in this release may affect the Company to a greater extent than indicated. Except as expressly required by federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
Investor Relations Contact
David H. Allen
Darrow Associates, Inc.
408.427.4463
dallen@darrowir.com
SOURCE: MicroVision, Inc.
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