Vuzix Receives Volume Follow-on Smart Glasses Order from Acuraflow to Supply Pharmaceutical Customer

Rhea-AI Summary

Vuzix Corporation (NASDAQ: VUZI) announced a follow-on order for its smart glasses from Acuraflow, aimed at enhancing logistics for a pharmaceutical customer. This order underscores the growing demand for enterprise smart glasses across various industries. Acuraflow, with a history spanning 67 years, provides sustainable management solutions in multiple sectors, including pharmaceuticals. Paul Travers, Vuzix's CEO, highlighted this order as a sign of expanding enterprise smart glasses demand globally. Vuzix specializes in smart glasses and AR technology, holding over 275 patents and catering to sectors like medical and defense, emphasizing its leadership in the market.

Positive

• Follow-on order from Acuraflow indicates strong demand for Vuzix smart glasses.
• The order targets the pharmaceutical industry, suggesting growth opportunities in this sector.
• Acuraflow's successful adoption of Industry 4.0 technologies reflects positively on Vuzix's product relevance.

Negative

• None.

ROCHESTER, N.Y., April 12, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that it has received and shipped against a volume follow-on order for Vuzix smart glasses from Acuraflow, a developer and deployer of sustainable management solutions. The follow-on order was placed to primarily supply a customer in the pharmaceutical industry.

Acuraflow, established 67 years ago under the name of and doing business as Bruno Schillig, primarily serves the oil and gas, chemical, mining, utilities, automotive, pharmaceutical, and food and beverage industries. Originally focused on Argentina, the company has since expanded to the United States and Latin America.  

"Acuraflow's value-added services approach has been successful at accelerating the adoption of Industry 4.0 technologies among its customers. Their latest order for Vuzix smart glasses will help one of its pharmaceutical customers improve the logistics management of their operations," said Paul Travers, President and CEO of Vuzix. "Orders like this, as well as others in our current sales pipeline, are a clear indication to us that enterprise smart glasses demand around the world is expanding across an increasing number of industry verticals, both in terms of order size and breadth."

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 and defense markets. The Company's products include head-mounted wireless smart displays and wearable computing devices that provide solutions for mobility, and augmented reality applications, as well OEM waveguide optical components and display engines. Vuzix holds more than 275 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 2023 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.  For more information, visit the Vuzix website,  Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship and future opportunities with Acuraflow and its customers, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Vuzix Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com  
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com  www.vuzix.com

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SOURCE Vuzix Corporation

FAQ

What was the recent order for Vuzix smart glasses?

Vuzix received a follow-on order from Acuraflow to supply smart glasses for a pharmaceutical customer.

How does Acuraflow's order impact Vuzix?

The order demonstrates increasing demand for Vuzix's smart glasses in various industries, particularly pharmaceuticals.

When was the follow-on order from Acuraflow announced?

The order was announced on April 12, 2023.