--Announces Signing of Technology Partnership Agreement to Support Mass Production--
HOPEWELL JUNCTION, N.Y.--(BUSINESS WIRE)--Jan. 5, 2018-- eMagin Corporation (NYSE American: EMAN) (“eMagin” or the “Company”), a leader in the development, design and manufacture of Active Matrix OLED microdisplays for high resolution imaging products, today announced that management will be demonstrating their highest brightness, direct patterned micro-displays designed for the augmented reality (“AR”) and virtual reality (“VR”) markets by appointment only to select customers at CES from January 9th through January 11th. eMagin is the only company that has designed and manufactured 2K OLED microdisplays which provide the brightness that consumer products companies demand for their next generation AR and VR headsets.
Separately, the Company announced an agreement with a U.S.-based chipmaker to support scaling of mass production for the consumer AR and VR markets. This agreement will provide supply chain development assistance for eMagin to enable prototype and mass production of OLED microdisplays. As part of this agreement, eMagin’s partner will provide raw materials sourcing support necessary for scaling to mass production while helping the Company meet the cost requirements of high volume consumer segment original equipment manufacturers (“OEMs”).
“I am pleased to report our partnering strategy for the consumer segment is progressing as planned,” commented Andrew Sculley, President and CEO of eMagin. “We have multiple agreements in place with consumer OEM partners and are continuing to advance discussions with mass production partners as well. In addition, we are pleased to announce an agreement with a U.S. based chipmaker to support scaling of mass production for the consumer AR and VR markets.”
“This is another important step for eMagin as we move forward in the development and commercialization of our OLED microdisplay technology for the consumer AR/VR market,” commented Mr. Sculley. “Our partner in this effort will provide backplane and interface design support which we anticipate will enable us to meet the performance, cost and scalability requirements of the high volume consumer segment. For us to be successful in the consumer segment, it is critical that we continue to execute and deliver high brightness, direct patterned OLED microdisplays to multiple OEM partners. This technology partnership gives eMagin the necessary sourcing assistance to be successful.”
About eMagin Corporation
A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin’s microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. More information about eMagin is available at www.emagin.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding eMagin Corporation’s expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors and uncertainties, including those described in the Company’s most recent filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
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Source: eMagin Corporation
Jeffrey Lucas, 845-838-7931
Chief Financial Officer
Affinity Growth Advisors
Betsy Brod, 212-661-2231