Vuzix Corporation, a leading supplier of Smart Glasses, Augmented Reality (AR) technology and products for the consumer and enterprise markets, is pleased to announce that the Company has signed an agreement with a new global Tier-1 Aerospace firm to build a customised commercial avionics waveguide-based head mounted display (HMD) system.
Under the terms of this agreement, Vuzix and our new customer have embarked on a multi-stage development program with agreed upon milestones and payments. The first stage of this program is for approximately $250,000 and is expected to be completed this Autumn. Subject to a final approval and acceptance from the customer of the first phase, Vuzix expects to receive follow-on orders from this customer to finalise the product's development and hard tooling necessary to ultimately deliver commercial volumes of the custom waveguide systems as early as the second of half of 2019 for this customer's commercial avionics solution.
"We are excited to enter into this partnership and believe it represents a strong vote of confidence in our capabilities and recognition of our leading position within the waveguide optics technology space," said Paul Travers, President and Chief Executive Officer at Vuzix. "Additionally, the agreement demonstrates how Vuzix is able to leverage and partner our industry leading optics technology with top tier global partners across a variety of vertical markets including commercial avionics."
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