Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Optimized Optical Modules for AI-Enabled Smart Glasses

Rhea-AI Summary

Vuzix (NASDAQ: VUZI) announced a strategic partnership with Avegant to develop optimized waveguide optical modules for AI-enabled smart glasses. The collaboration aims to integrate Avegant's compact LCoS AG-30L2 30-degree light engine with Vuzix' next-generation full-color waveguide, creating an efficient, mass-manufacturable AR display module. Prototype units will be showcased at Augmented World Expo USA 2024, with a fully optimized version expected at CES 2025. The new design targets fashion-forward consumer smart glasses and includes customizable features for OEMs.

Positive

• Vuzix and Avegant's partnership aims to create a mass-manufacturable AR display module.
• The solution integrates advanced optical technologies from both companies.
• Prototype units will be showcased at Augmented World Expo USA 2024.
• A fully optimized version for OEMs will be unveiled at CES 2025.
• The new design targets fashion-forward consumer smart glasses.

Negative

• None.

Insights

Tech Expert

The partnership between Vuzix and Avegant highlights a significant advancement in the AR smart glasses market. Combining Vuzix's waveguide technology with Avegant's LCoS light engine could set a new standard for consumer AR devices. The ability to create mass-manufacturable and lightweight smart glasses that are also aesthetically appealing is a important step forward. This collaboration might also address the longstanding issue of bulkiness in AR eyewear, making it more consumer-friendly. The potential for customization offered to OEMs can also lead to diverse applications, expanding market penetration.

Financial Analyst

This strategic partnership could positively impact Vuzix's financials in the long term. If the collaboration results in a successful product launch, it could lead to an increase in revenue streams from new OEM deals and consumer sales. Investors should monitor upcoming events like CES 2025 closely, as they will provide insights into the market reception. Additionally, entering the consumer market with a highly efficient and visually appealing product could significantly enhance Vuzix's market share in the AR industry. However, this optimism should be tempered by the execution risks associated with new product development and market adoption challenges.

-    Prototype units to be unveiled at this week's Augmented World Expo USA 2024

ROCHESTER, N.Y., June 19, 2024 /PRNewswire/ -- Vuzix^® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, is pleased to announce a strategic partnership with Avegant, a renowned leader in light engine technology, to develop optimized waveguide optical modules for use in future AI-enabled smart glasses.

This partnership's objective is to integrate Avegant's compact LCoS AG-30L2 30-degree light engine with a fully customized version of Vuzix' next-generation full-color Incognito-enabled waveguide. Together, Vuzix and Avegant will be creating an optimized and complete AR display module that is intended to be used as an optical reference design for AI-enabled fashion-forward consumer smart glasses. This solution will be highly efficient, full color, mass manufacturable, and lightweight. Further customization of the waveguides provided from Vuzix will be available for OEMs including the outer shape, tilt/rake angles, input/output locations, virtual image location, and focus.

The first prototypes of this collaboration will be showcased privately this week at Augmented World Expo USA 2024 (AWE), being held June 18-20 at the Long Beach Convention & Entertainment Center in Long Beach, California. Attendees will have the opportunity to experience the solution's cutting-edge optical performance firsthand and witness the future of AI-enabled smart glasses. Both Avegant and Vuzix will be showing the prototype demo.

Building on the momentum from AWE 2024, Vuzix and Avegant plan to unveil a fully optimized version for OEMs at the Consumer Electronics Show (CES) 2025 in Las Vegas, Nevada. This version will mark a significant milestone in the AR industry, showcasing a commercially ready reference design (employing Vuzix' new integrated vision correction) that combines the most advanced optical technology stacks from both companies.

For more information or to schedule a meeting at AWE 2024, please contact warren_russell@vuzix.com or remi.lacombe@avegant.com.

"Avegant's AG-30L2 LCoS light engine is a compact full color device that pairs very well with our industry-leading waveguides," said Paul Travers, President and Chief Executive Officer at Vuzix. "This partnership promises to advance the design and introduction of full-color consumer smart glasses that people will actually want to buy and wear. We look forward to working closely with Avegant to further develop and finalize the combined solutions on which we are currently working."

About Vuzix Corporation

Vuzix is a leading designer, manufacturer and marketer of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 375 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and augmented reality Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; Munich, Germany; and Kyoto and Tokyo, Japan.  For more information, visit the Vuzix website, Twitter and Facebook pages.

About Avegant

Avegant is a well-funded, venture-backed technology company developing next-generation display technology to enable previously impossible augmented reality experiences. The company uses its deep scientific understanding of human sight and head-mounted display technologies together with its consumer electronics manufacturing experience to develop displays that enable realistic AR experiences for consumers. Since its inception, Avegant has developed numerous technologies ranging from the first consumer wearable high-quality head-mounted display, to lightfield and foveated displays and, more recently, the smallest LCoS light engine in production, the AG-30L2.  For more information, visit avegant.com.

Media contact Avegant Corp.: Remi Lacombe, contact@avegant.com 

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SOURCE Avegant Corp.

FAQ

What is Vuzix's partnership with Avegant about?

Vuzix has partnered with Avegant to develop optimized waveguide optical modules for AI-enabled smart glasses.

When will Vuzix and Avegant showcase their prototype units?

The prototype units will be showcased at Augmented World Expo USA 2024, from June 18-20.

What optical technology is being used in the Vuzix and Avegant partnership?

The partnership integrates Avegant's LCoS AG-30L2 30-degree light engine with Vuzix' next-generation full-color waveguide.

When will the fully optimized version of Vuzix's and Avegant's AR module be unveiled?

The fully optimized version will be unveiled at CES 2025 in Las Vegas, Nevada.

What is the stock symbol for Vuzix?

The stock symbol for Vuzix is VUZI.