Leading provider of smart glasses and augmented reality technologies and products Vuzix® Corporation (NASDAQ. VUZI) is pleased to announce that the Company has signed a new lease for the building adjacent to its West Henrietta headquarters to expand its waveguide production capacity. The lease was selected to partially utilize the building and then convert to leasing the entire building based on future expansion needs.
Vuzix said the waveguide manufacturing equipment has been purchased and will be installed and ready for volume production in the new ISO 9001 facility within the next six months. In addition to housing the optical and manufacturing equipment needed to support Vuzix's proprietary waveguide development process, the expanded facility will be equipped with a Class 1000 clean room. The Company estimates that this program will increase its annual production capacity to more than one million units by the first half of 2023.
In connection with this expansion, Vuzix is eligible to receive up to $1 million through Empire State Development's Excelsior Jobs Tax Credit program in exchange for a commitment to create jobs ESD is the chief economic development agency of the State of New York and has approved this level of support for Vuzix in accordance with the rules of its program. ESD is New York State's chief economic development agency and has approved this level of support for Vuzix under its program rules.
In an interview, Vuzix President and CEO Paul Travers said “The optical, weight and power advantages offered by Vuzix waveguides are appreciated by our partners in the enterprise, defense, consumer and other markets. As our demand for custom configurable waveguides continues to grow, now is a great time for Vuzix to increase its waveguide production capabilities. And with all Vuzix OEM solutions designed and manufactured in-house in New York State, protected by a deep IP portfolio, the facility is well-equipped to supply major customers on a large scale at cost-competitive prices.”
Vuzix Corporation Small file
Established:Founded in 1997, Vuzix is listed on the NASDAQ and has offices in New York, Oxford, UK and Tokyo, Japan.
Introduction:Vuzix is a leading provider of smart glasses and augmented reality technologies and products for the consumer and enterprise markets. The company's products include personal displays and wearable computing devices that provide users with a portable, high-quality viewing experience, as well as mobile and wearable displays and augmented reality solutions.Vuzix has 259 patents and patents pending in the field of video eyewear, as well as a number of intellectual property licenses. The company has been honored with the 2005-2023 Consumer Electronics Show Innovation Award and several wireless technology innovation awards, among others. (Award Information)
Subsidiary Moviynt®
Moviynt® is an SAP-certified ERP SaaS logistics solutions provider and a wholly owned subsidiary of Vuzix.
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