ROCHESTER, N.Y., Nov. 22, 2019 /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 its OEM partner Ride-On Vision has received regulatory approval for its Ride-On Smart Ski Goggles based on the Vuzix Blade and that this customer is now moving to volume production for this program. The Blade is effectively integrated into Ride-On’s ski goggles and brings AR to the slopes with the world’s first AR offering hands-free interaction, navigation of the mountain’s slopes, recording of one’s time on the slopes, and audio player, fully controlled by the Ride-On goggles. To learn more about this exciting offer, please visit Ride-On at https://www.rideonvision.com/new/ski-goggle.php.
Vuzix had previously delivered initial Vuzix Blade® Smart Glasses to Ride-On beginning in Q1 2019 to support their proof of concept effort. In Q2 2019, Vuzix received a follow-on order for 100 Blade units from Ride-On to advance the program from pre-production through regulatory approval and into their volume production. As part of this continued OEM effort, Vuzix has also provided software updates and recently shipped an additional 20 Vuzix Blade Smart Glasses to Ride-On. The Company expects to deliver the first volume batch of Vuzix Blade Smart Glasses to Ride-On before the end of 2019 and anticipates Blade shipments to them to expand significantly in Q1 2020 to fulfill their Smart Ski Goggle reseller orders across several countries during the 2019-2020 winter ski season in Europe and the United States. Additionally, Vuzix and Ride-On are working together on the initiation of a proof of concept for a wearable Vuzix Blade-based system for a major motorcycle company.
“The team at Vuzix has been great to work with to support the overall development effort of this program to deliver the best possible experience for our Smart Ski Goggle customers,” said Alon Getz, CEO and Founder of Ride-On. “The 2019-2020 ski season is a coming out party for AR experiences for skiers and we are looking forward to bringing additional products to market with Vuzix.”
“The overall design and the see-through waveguide optics are critical must-have features for our prosumer partner Ride-On. We’re excited to see this customer move rapidly from proof of concept and now into volume production of a product that will deliver innovative location-based information to ski and snowboarding enthusiasts on the slopes,” said Paul Travers, President and Chief Executive Officer at Vuzix.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 147 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2019 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 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 our business relationship with Ride-On Vision, their future orders and products success, 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.
