In the past VUZI has subcontracted for Raytheon, contracted with DARPA, received a $25 million investment from Intel, and partnered with BlackBerry
VUZI Boasts Over 2500 Enterprise Customers, Over 50% of Fortune 100 & 200+ Channel Partners
VUZI Lands $20 Million Investment From Quanta Computer As The Two Expand Their Smart Glasses Collaboration
READ THE INVESTOR PRESENTATION HERE
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Hello Everyone,
It has been a fairly busy week so far.
We wanted to bring one more company to your attention before we close out the week.
Pull up VUZI right away.
VUZI is engaged in the design, manufacture, marketing and sale of augmented reality wearable display and computing devices, also referred to as head mounted displays (or HMDs, but also known as near-eye displays), in the form of Smart Glasses and Augmented Reality (AR) glasses. There AR wearable display devices are worn like eyeglasses or attach to a head worn mount. These devices typically include a wearable computer, cameras, and sensors that enable the user to view, record and interact with video and digital content, such as computer data, the Internet, enterprise data, social media or entertainment applications. Their wearable display products integrate micro-display technology with our advanced optics to produce compact high-resolution display engines, less than half an inch diagonally, which when viewed through our Smart Glasses and AR products create virtual images that appear comparable in size to that of a computer monitor or a large-screen television. This includes the representative forms such as augmented reality (AR), mixed reality (MR) and virtual reality (VR) and the areas interpolated among them. Extended reality (XR) is a term referring to all real-and-virtual combined environments. Their wearable display products cover the entire spectrum from “the complete real” to “the complete virtual” in the concept of reality–virtuality.
For AR glasses, historically, see-through HMDs displayed the real world using semi-transparent optics placed in front of the user’s eyes. VR users wore large goggles which sealed their view of the outside world. Both types of these HMDs were large and bulky and as a result, they had little mass-market appeal. We have developed thin optics, called waveguides, that are fully see-through and enable miniature display engines to be mounted in the temples of the HMD which allows the form factor of the Smart Glasses to be comparable to conventional eyeglasses. Our Smart Glasses and AR glasses are designed for all day use cases and are small enough to fit in a user’s pocket or purse.
VUZI claims that their waveguide optics and display engines offer a number of significant advantages over other wearable display solutions, including higher contrast, greater power efficiency, less weight, more compact size, and high brightness images for use outdoors. We also believe that our waveguide optics give us a substantial advantage over competitors’ optics, including other waveguides, because our solution allows us to produce optics that are fully transparent when off while also delivering the high brightness required for AR and enterprise Smart Glasses applications.
The key growth areas for VUZI are the enterprise, medical, consumer electronics, OEM, defense and security markets. The look to address most of these markets by developing and selling their own finished products and building a growing eco-system of software and services internally and with our value added resellers, or VARs, developers and end customers. Another potential channel to these markets we are developing includes supplying mass production of waveguide optics and display engines to select third parties to use in their products.
In the past VUZI has subcontracted for Raytheon, contracted with DARPA, received a $25 million investment from Intel, and partnered with BlackBerry.
You can see that positions are held by Cathy Wood’s Ark Investment, Blackrock, Vanguard, Citadel, and Morgan Stanley with roughly 36% institutional ownership.
Quanta Computer Enters into a Strategic Investment in Vuzix in Support of Long-Term Waveguide Design and Supply Partnership
PUBLISHED
SEP 3, 2024 8:15AM EDT
- Vuzix to receive a $20 million dollar investment in 3 tranches from Quanta Computer, one of the world’s largest ODMs
- Quanta investment to support the expansion of Vuzix’ leading-edge waveguide production capabilities and joint development of new AR/AI smart glasses technologies
ROCHESTER, N.Y., Sept. 3, 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 Quanta Computer Inc. (TWSE: 2382.TW), (“Quanta”), a global Fortune 500 company and worldwide leading Original Design Manufacturer (ODM), has entered into a $20 million three-tranche strategic investment in Vuzix consisting of common and preferred stock of Vuzix.
Quanta’s investment commitment of $20 million consists of three investment tranches. The first investment tranche will consist of $10 millionof Vuzix common stock. The second and third tranches of the total planned investment are $5 million each, are tied to specific milestones, and will consist of the purchase of Vuzix Series B Preferred Stock.
“We plan to work closely with Vuzix to support the AR smart glasses industry and today’s investment in Vuzix represents a strong endorsement of our partnership,” said Frank Chuang, Vice President of Quanta Computer.”
Quanta’s investment today represents another important step in our partnership, which has steadily deepened since we first disclosed it last November,” said Paul Travers, President and CEO of Vuzix. “This investment, and the ones to follow, will significantly strengthen our balance sheet and assure that we can implement whatever steps needed to ramp production of waveguides, as well as the co-development of new smart glasses and related technologies. We look forward expanding our customer relationship and partnership with such a leading product manufacturer as Quanta, as well as realizing the significant revenue potential it stands to generate for Vuzix in the upcoming years with both parties’ successes.”The foregoing description of Quanta’s investment is qualified in its entirety by reference to the Current Report on Form 8-K, filed with the Securities and Exchange Commission on September 3rd, 2024 and the agreements attached as exhibits thereto.
About Quanta Computer
Quanta Computer Inc. is a Fortune Global 500 Company and a leader in worldwide notebook manufacturing, as well as a leading solution provider in cloud computing. Quanta provides innovative products with superior technology in information and communications, consumer electronics, cloud computing, smart home solutions, smart automobile solutions, smart healthcare, and AIoT, etc. Founded in 1988 and listed in TWSE since 1999, Quanta Computer is headquartered in Taiwan with manufacturing and service locations across Asia, Americas, and Europe, etc. FY2023 consolidated revenues for Quanta Computer amounted to US$35 billionwith a workforce of approximately 62,000 employees worldwide. For further information, please visit Quanta Computer’s Website at http://www.quantatw.com/
Leading Asian Hospitals Use Vuzix (NASDAQ:VUZI) Smart Glasses to Enable Next Generation Surgical Instruction
PUBLISHED
JUL 1, 2024 9:30AM EDT
- Linkou Chang Gung Memorial Hospital and First Affiliated Hospital of Dalian Medical University use Vuzix M400 smart glasses during live surgeries
ROCHESTER, N.Y., July 1, 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 that two of the most well-known hospitals in Asia, the Linkou Chang Gung Memorial Hospital and First Affiliated Hospital of Dalian Medical University, recently hosted live broadcasts of surgeries using Vuzix M400™ smart glasses.
Traditional live broadcasts of surgeries often face issues such as obstructed camera angles, cramped surgical spaces, and specific sterile areas that restrict camera positioning and real-time adjustments. Additionally, surgical lights can cause overexposure, and the operating room’s internet limitations frequently compromise video quality.The broadcast experience at Linkou Chang Gung Memorial Hospital has been significantly improved through the implementation of Vuzix smart glasses and a premium medical streaming platform FacePro Telemedicine developed by Softfoundry International Pte Ltd. The combined use of these products successfully delivered the surgeon’s first-person perspective in a 4K high-definition live broadcast of knee joint surgery, allowing for both real-time recording and the sharing of the operations to conference room audiences. The operations themselves showcased advanced knee replacement techniques using United Orthopedic Corporation instruments and products, as well as provided enhanced surgical outcomes and improved educational experiences. A case study of the broadcasted surgeries performed at this hospital can be viewed at vuzix.com/casestudy-taiwan-hospital.
At the First Affiliated Hospital of Dalian Medical University, Vuzix and Vuzix Asia distributor Arbigtec collaborated closely with medical solution provider VIS to successfully conduct a webinar featuring a live remote cardiac surgery. The webinar effectively demonstrated and taught activities using Vuzix smart glasses. Cardiac surgeons at the hospital presented remote surgery demonstrations with the goals of improving teaching results, reducing costs, enriching content, promoting learning and communication between medical personnel, and strengthening regional collaboration. Following the live surgical demonstration, Vuzix and VIS showcased their integrated solutions and discussed successful previous deployments. The VIS platform was created by a team of doctors and developed by healthcare experts. It addresses clinical requirements and offers interconnected audio and video solutions for hospitals. Currently, the VIS system is operational in over 200 major and local hospitals in China, and over 4000 live surgeries have been performed using the VIS platform. This has provided them with valuable expertise in integrating their platform with Vuzix glasses. The platform also features extensive integration with hospital patient data and video systems. To access further details about the webinar, please utilize the provided YouTube link below to view the recording.This activity has been reported by Vuzix, Arbigtec and VIS in cooperation with the Dalian Cardiac Surgery Association.”The use of Vuzix smart glasses within healthcare is becoming a steadily expanding dynamic as more and more hospitals, doctors, solution providers and agencies discover and embrace the improved experiences and outcomes that can be achieved with a hands-free, lightweight, all-day wearable device such as our M400,” said Paul Travers, President and Chief Executive Officer at Vuzix. “We look forward to expanding our relationships and use cases with such leading regional hospitals as Linkou Chang Gung Memorial and First Affiliated Hospital of Dalian Medical University, as well supporting our many distributors and software partners and their various healthcare solutions around the world.”
NEWS
Vuzix (NASDAQ: VUZI) Lands $20 Million Investment From Quanta Computer As The Two Expand Their Smart Glasses CollaborationSep 17, 2024Vuzix Receives $10 Million First Tranche Investment from Quanta ComputerSep 16, 2024Quanta Computer Enters into a Strategic Investment in Vuzix in Support of Long-Term Waveguide Design and Supply PartnershipSep 3, 2024GPS TUNER Selects Vuzix (NASDAQ:VUZI) Z100 Smart Glasses to Bundle as a Heads-Up Display for Their eBike Software OfferingsAug 16, 2024Vuzix Reports Second Quarter 2024 ResultsAug 14, 2024Vuzix (NASDAQ: VUZI) Employs New Micro-touch Imprinting Process to Increase Optical Waveguide Performance and Production ThroughputAug 13, 2024Vuzix (NASDAQ: VUZI) Introduces M400 Xtreme Smart Glasses for Use in a Variety of Harsh Workplace EnvironmentsAug 12, 2024Vuzix Schedules Conference Call to Discuss Second Quarter 2024 Financial Results and Business UpdateAug 1, 2024Vuzix (NASDAQ: VUZI) Wholly Owned Subsidiary Moviynt Receives New Key SAP CertificationJul 30, 2024Leading Asian Hospitals Use Vuzix (NASDAQ:VUZI) Smart Glasses to Enable Next Generation Surgical InstructionJul 1, 2024Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Full Color Optical Reference Design for AI-Enabled Consumer Smart GlassesJun 20, 2024Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Optimized Optical Modules for AI-Enabled Smart GlassesJun 19, 2024Vuzix (NASDAQ: VUZI) Announces Its Intention to Offer High Durability Plastic Waveguide Design and Production CapabilitiesJun 18, 2024Vuzix (NASDAQ:VUZI) Revolutionizes the Display Technology Industry with Introduction of Large Format Waveguide Design and ManufacturingJun 13, 2024Vuzix (NASDAQ: VUZI) Continues to Receive Smart Glasses Reorders from Xander to Meet Rising Demand for Their Award-Winning Captioning Glasses for the Hard of HearingJun 10, 2024Vuzix Annual Shareholder Meeting to Be Held on June 13, 2024Jun 4, 2024U.S. Air Force Agency Awards Vuzix (NASDAQ:VUZI) Development Contract for Augmented Reality Head Mounted DisplaysJun 3, 2024Garmin Collaborates with Vuzix to Develop Next Generation Nano-Imprinted Waveguide with microLED based Display SystemsMay 14, 2024Vuzix to Bring New Low Cost, Full Color Waveguides to Display Week 2024May 10, 2024Vuzix Reports First Quarter 2024 ResultsMay 9, 2024
MANAGEMENT TEAM
PAUL J. TRAVERS
CEO, President and Director
Paul Travers is the founder of Vuzix and has served as our President and Chief Executive Officer since 1997 and as a member of our Board of Directors since November 1997. Prior to the formation of Vuzix, Mr. Travers founded both e-Tek Labs, Inc. and Forte Technologies Inc. He has been a driving force behind the development of our products. With more than 30 years’ experience in the consumer electronics field, and 26 years’ experience in the virtual reality and virtual display fields, he is a nationally recognized industry expert. He holds an Associate degree in engineering science from Canton, ATC and a Bachelor of Science degree in electrical and computer engineering from Clarkson University.
GRANT RUSSELL
CFO, Executive Vice President, Treasurer and Director
Grant Russell has served as our Chief Financial Officer and Executive Vice President since 2000 and as a member of our Board of Directors since April 2009. From 1997 to 2004, Mr. Russell developed and subsequently sold a successful software firm and a new concept computer store and cyber café. In 1984, he co-founded Advanced Gravis Computer (Gravis), which, under his leadership as President, grew to become the world’s largest PC and Macintosh joystick manufacturer with sales of $44 million worldwide and 220 employees. Gravis was listed on NASDAQ and the Toronto Stock Exchange. In September 1996 it was acquired by a US-based Fortune 100 company via a successful public tender offer. Mr. Russell holds a Bachelor of Commerce degree in finance from the University of British Columbia and is both a US Certified Public Accountant and a Canadian Chartered Professional Accountant.
PETE JAMESON
COO
Pete Jameson was named Chief Operating Officer (COO) of Vuzix in January 2022, having served as General Manager since joining the company in January 2021. Mr. Jameson brings a wealth of operating experience to his new position. He previously served as COO of Osterhout Design Group (ODG), a leading wearable technology company that developed and manufactured mobile, self-contained and lightweight head-worn mixed reality smart glasses with photo-realistic imagery. Prior to ODG, Mr. Jameson was a 20-year executive at Eastman Kodak where he was a founding leader of Kodak’s multi-billion-dollar Digital Camera Business including General Manager and VP of the Digital SLR and Professional Digital Capture Group that created the world’s first digital SLR cameras, General Manager of Kodak’s Commercial Imaging Business in Europe, Africa and the Middle East and General Manager and VP of Kodak’s Digital Devices Group. He holds a Bachelor of Science Electrical Engineering degree from Union College and a Master of Business Administration degree from the University of Rochester Simon School of Business.
ERIC BLACK
General Counsel
Eric Black was named General Counsel of Vuzix in March 2022. Mr. Black brings a wealth of legal experience to his new position. While serving as in-house for other private and public technology companies, Mr. Black developed extensive experience in supporting business development and operational optimization by developing processes/workflows, negotiating complex contracts, advising on mergers and acquisitions, and informing business strategies that strengthen compliance and facilitate consistent growth. Mr. Black was previously named one of Rochester’s “Forty Under 40” by the Rochester Business Journal in 2006 and one of Rochester’s Top Counsel by the Rochester Daily Record in 2019. He holds a Bachelor of Economics degree from the University of Rochester and a Doctor of Jurisprudence degree from the University of Virginia School of Law.
SHANE PORZIO
Vice President Engineering
Shane Porzio has been with the Company for more than ten years and has more than 13 years of experience in architecture of systems and designs for hardware and software. His previous employment was at Lockheed Martin where he served as a Hardware Engineer. Mr. Porzio has BS in Computer Engineering Technology from Rochester Institute of Technology and his MS in Computer Science from Rochester Institute of Technology.
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