MicroVision Releases New Videos from June High Speed Track Testing

Rhea-AI Summary

MicroVision, Inc. (NASDAQ:MVIS) announced the release of new videos showcasing successful highway speed track tests of its MAVIN™ line, particularly the MAVIN DR, designed for advanced driver assistance systems (ADAS). The tests focused on complex object tracking and changing lighting conditions, demonstrating the system's ability to accurately track objects at high speeds and in low light. This milestone highlights MicroVision's commitment to refining its technology and attracting potential OEM partners, while ensuring scalable and cost-effective solutions.

Positive

• Successful testing of MAVIN DR in complex highway scenarios.
• Demonstrated advanced object tracking capabilities.
• System effectively handles changing lighting conditions.
• MAVIN DR offers a scalable and cost-effective design for OEMs.

Negative

• None.

REDMOND, WA / ACCESSWIRE / July 21, 2022 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, announced its release of new videos from its second highway speed track test. The Company tested its new MAVIN™ line of sensors, including its new dynamic view lidar system, MAVIN™ DR, in a number of complex scenarios designed to replicate real-life driving. MAVIN is a system that will enable new ADAS safety features addressing the need to see farther, with greater clarity, and respond faster to emerging situations.

The videos showcase the successful testing of two important highway safety scenarios, including:

• Complex Object Tracking: Through these tests, MicroVision was focused on gathering important ground truth data to refine software solutions on the path toward operating in drive-by-wire mode and autonomous maneuvering. On highways, nothing is standing still. As a result, vision-based sensors can easily get confused. By combining dynamic range with low latency and an ultra-high resolution point cloud, MicroVision's MAVIN DR can maintain a clear picture of the drivable and non-drivable road at all times. It can look at an object across multiple frames, and once an object is being tracked, MAVIN DR can determine the velocity of that object and track it consistently and if necessary, predict its position in future frames. In a real-life traffic situation with a swarm of cars on a multi-lane highway at high speeds, the MAVIN DR sensor and our embedded software can do complex object tracking to deliver advanced driver safety.
• Changing Lighting Conditions: MicroVision repeated the tunnel scenario that the Company first demonstrated in March, but this time added a new element to make the scenario more challenging. In this tested scenario, a second, slower moving vehicle emerges in the tunnel alongside the test vehicle. In low light conditions, camera-based sensors will struggle to see other vehicles and obstructions. MicroVision's MAVIN DR will continue to light up any objects or vehicles in these conditions very clearly enabling an actionable drivable and non-drivable picture of the road ahead.

Access to the videos can be found on MicroVision's social media sites, links for which can be found on its website at https://www.microvision.com.

"The successful completion of our latest highway track testing is another in a series of important milestones that MicroVision has met. We continue to put our solution to the test and capture this important data so that we can showcase our technology firsthand to potential OEMs and partners," said Sumit Sharma, CEO of MicroVision. "We've also been running our demo vehicle in Germany and look forward to sharing some of that footage and some data to demonstrate the promise of our technology."

MAVIN DR is the fourth lidar hardware variant from MicroVision and the first to offer a dynamic range, combining short-, medium-, and long-range sensing and fields of view into one form factor. The new sensor produces an ultra-high-resolution point cloud showing drivable and non-drivable areas of the road ahead. With its low latency point cloud (30 Hz), the MAVIN product line allows ADAS systems to respond more quickly and take action at high speeds.

In addition to the dynamic view system, the MicroVision MAVIN DR has a new hardware form factor that complements OEM design. The newly refined form factor enables even more flexible deployment options for OEMs. Built with materials known to OEM supply chains, MicroVision hardware is scalable, sourceable, and supports a lower cost structure.

For more information about the MicroVision MAVIN lidar system, please visit www.microvision.com.

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 today to develop automotive lidar sensors and provide solutions for advanced driver assistance systems (ADAS), leveraging its experience building 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, follow MicroVision on Twitter at @MicroVision, and LinkedIn at https://www.linkedin.com/company/microvision/.

MicroVision is a trademark of MicroVision, Inc. in the United States and other countries.

Forward-Looking Statements

Certain statements contained in this release, including the Company's plans regarding product demonstration and product capabilities 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 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 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 customers 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, Quarterly Reports on Form 10-Q and other reports 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.

Contact Investor Relations
Darrow Associates Investor Relations
Jeff Christensen and Matt Kreps
MVIS@darrowir.com

Media Contact
Germany:
Schwartz Public Relations
Sebastian Weinstock
+49 89 211 871 72
MicroVision@schwartzpr.de

U.S.:
Heidi Davidson
Galvanize Worldwide for MicroVision
(914) 441-6862
MicroVision@galvanizeworldwide.com

SOURCE: MicroVision, Inc.

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FAQ

What is the significance of MicroVision's recent highway track testing for MVIS?

MicroVision's highway track testing demonstrates the effectiveness of its MAVIN DR lidar sensor, showcasing its capabilities in complex driving scenarios, essential for potential OEM partnerships.

What challenges did MicroVision's MAVIN DR face during testing?

During testing, MAVIN DR was challenged with complex object tracking in highway scenarios and adapting to changing lighting conditions.

How does the MAVIN DR improve ADAS functionality?

The MAVIN DR improves ADAS functionality by providing ultra-high-resolution point clouds for better object detection and tracking, critical for vehicle safety.

What are the features of MicroVision's MAVIN DR lidar system?

MAVIN DR features dynamic range sensing, low latency, and a scalable form factor, allowing it to detect and differentiate drivable areas effectively.

When was the latest highway speed track test conducted by MicroVision?

The latest highway speed track test was conducted and announced on July 21, 2022.