Vuzix signs collaboration agreement with global CE firm
The two companies will develop and supply Vuzix see-through optics technologies
Vuzix Corporation, a supplier of video eyewear and smart glasses products for consumer, commercial and entertainment markets, has announced it has entered into a collaboration agreement to explore waveguide technologies for the production of augmented reality, smart glasses with an undisclosed global player in consumer electronics and mobile communications fields.
According to the agreement, the parties will use their best commercial efforts to collaborate jointly on near-eye displays, smart glasses and wearable computing products and technologies.
In addition, Vuzix will work to produce custom solutions of its optic technology for near-eye displays, including flat passive waveguides and related projection optics.
According to the two companies, the agreement calls for the development of functioning prototypes leading to potential commercialisation for volume production by the customer for mid-2017.
Under the agreement, Vuzix will be making deliveries of its new and custom developed waveguides and display engines to the customer and will work with the customer towards a successful integration of the Vuzix technology with the customer's proposed smart glasses solution.
"We are excited to be working on this solution and feel our selection as a partner for this programme validates Vuzix' technology and solutions," said Paul Travers, president and CEO, Vuzix.
For the provision of these services, samples, custom waveguides and projector engines, Vuzix will receive a minimum of $500,000.
Production is part of a follow on effort and the parties have agreed to negotiate amicably in the future for the possible volume production of Vuzix waveguides and display engines. There are no technology transfers or licenses being granted between the parties at this stage.