SOURCE: Vuzix Corporation
February 24, 2011 09:08 ET
Vuzix and NS Solutions Corporation Partner to Deliver Augmented Reality Solutions for Manufacturing
ROCHESTER, NY--(Marketwire - February 24, 2011) - Vuzix Corporation (TSX-V: VZX) (OTCBB: VUZI) ("Vuzix" or the "Company") announced today that it has partnered with NS Solutions Corporation (NS SOL) to develop an Augmented Reality (AR) solution based on Vuzix' see-through AR glasses. The solution uses AR to refine and systematize the transfer of knowledge about manufacturing tasks so that these skills can be easily passed-on to the next generation of manufacturing worker. The two organizations will commence commercial production of the solution, which combines Nippon Steel's knowledgebase of manufacturing tasks and Vuzix' see-through AR glasses, the same glasses, code named 'Raptyr,' that recently earned an innovation award at the 2011 Consumer Electronics Show.
According to industry analysts, Japan's manufacturing industry faces increasing labor shortages as their skilled baby-boomer work force retires. As a result NS SOL has developed AR software solutions that helps transfer knowledge in a consistent way, anywhere and anytime. Vuzix' advanced AR see-through glasses provide a mobile, hands-free deployable platform that enables such a transfer. With the combined solution new manufacturing workers are able to view images, instructions and information that are super-imposed onto the real world, without consulting a manual or contacting a supervisor. This provides a learning context that would take hundreds of hours to duplicate in the class room. It ensures NS SOL's ability to maintain a high standard amongst its work force and a high level of quality control at a lower cost.
NS SOL tested a number of AR projection system alternatives and found that, except for Vuzix' see-through glasses, they were inadequate for actual use in the field. The alternatives did not provide sufficient brightness or resolution, and they were too heavy and difficult to use.
Paul Travers, President of Vuzix, said, "We are very pleased to be working with NS SOL to deliver this AR solution. It is applications such as this that bring tangible results and savings to organizations helping to drive growth of the AR marketplace. We believe that this solution, enabled through Vuzix software developer kit and AR see-through Video Eyewear has wide spread application among a broad range of industries around the world."
NS SOL and Vuzix will work together to complete commercial implementation of the knowledge transfer application in 2011. It will be deployed first at Nippon Steel where several thousand systems are expected to be put to use. The two organizations will continue to collaborate in a co-marketing and sales relationship to identify other commercial customers for the solution in Japan.
About Vuzix Corporation
Vuzix is a leading supplier of Video Eyewear products in the defense, consumer and media & entertainment markets. The Company's products, personal display devices that offer users a portable high quality viewing experience, provide solutions for mobility, thermal sighting systems, tactical wearable displays and virtual and augmented reality. With its origins in defense research and development for next generation display solutions, Vuzix holds over 51 patents in the Video Eyewear field. The company has won 9 Consumer Electronics Show Innovations Awards, the RetailVision Best New Product and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company (TSX-V: VZX) (OTCBB: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan. For more information visit www.vuzix.com.
About NS Solutions Corporation
NS Solutions Corporation operates as a subsidiary of Nippon Steel Corp. and provides information technology solutions in Japan. The company offers various solutions for industry-specific business applications to corporate enterprises, government agencies, and public organizations. In addition, it provides platform solutions for system platforms, including middleware, databases, operating systems, networking systems, storage systems, and security systems, as well as services that enable systems run on various platforms to collaborate with each other. Further, the company offers end-to-end business services, such as system consulting, planning, design, development, deployment, operation, maintenance, and system support, as well as end-to-end outsourcing services. The company was founded in 1980 and is headquartered in Tokyo, Japan.
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Certain statements contained in this 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, among other things, future product releases, new opportunities, the Company's ability to capitalize on new opportunities and the Company's leadership in the Video Eyewear industry. They are generally identified by words such as "plans," "seeks," "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 from those projected in the Company's forward-looking statements due to, among other things, our ability to raise necessary capital; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the timing of new product launches; delays in product development; and dependence on third parties for certain key components. These risk factors and others are 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.
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