HOPEWELL JUNCTION, N.Y.--(BUSINESS WIRE)--Nov. 11, 2016-- eMagin Corporation, or the “Company” (NYSE MKT: EMAN), a leader in the development, design and manufacture of Active Matrix OLED microdisplays for high resolution imaging products, today announced the launch of two new products: BlazeSparkTM and BlazeTorchTM, innovative and affordable night vision products for the consumer marketplace.
“eMagin is bringing military quality, high resolution night vision to the mass market,” said Andrew G. Sculley, President and CEO of eMagin. “Our products, BlazeSpark and BlazeTorch, were designed with the sports enthusiast in mind. With the superior night infrared technology and other features of the products, we expect them to be equally attractive to law enforcement, first responders, utility companies and others who work at night. Importantly, we are launching these new products at disruptive price points compared to existing products on the market. As such, we believe eMagin has the capability to significantly expand the market for these applications.
“We are also are excited to have been named a 2017 Consumer Electronics Show (“CES”) Innovation Award Honoree in the Digital Imaging product category for BlazeSpark. This prestigious award was presented last night at the CES Awards Banquet in New York City in advance of the CES show in Las Vegas next January where we will be an exhibitor. Both products will be sold through our website www.blazethenight.com as well as through specialty partner channels.”
The BlazeSpark product is a handheld smartphone attachment that allows consumers to see clear, high-resolution images in the dark by inserting their smartphone into a revolutionary case that will display what the night vision sensor is seeing. A companion app allows users to record, chat, and live stream content within the BlazeSpark network or to other social media sites and share their experience worldwide. The suggested retail price will be below $300.
The BlazeTorch product is a wearable device that utilize eMagin’s advanced OLED microdisplay technology to provide hands-free operation during night-time activities with the capability to record and upload content. Video can be uploaded to www.blazethenight.com as well as shared with others on social media sites. The suggested retail price for the wearable headset will be below $1,000.
“We have established the supply chain and built inventory for the initial launch. We anticipate ramping up production for expanded distribution during the first quarter of 2017. We expect a modest contribution to revenues in 2016 and look for a more meaningful contribution in 2017 as volumes increase,” continued Mr. Sculley.
“We believe that these products will form the basis of an important new revenue stream for the company outside of our traditional markets. We are excited by opportunities to further leverage our leading microdisplay technology to expand our consumer offerings beyond this initial product launch,” concluded Mr. Sculley.
More information on eMagin’s new consumer products, BlazeSpark and BlazeTorch, can be found at www.blazethenight.com.
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, 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, Chief Financial Officer
MBS Value Partners
Betsy Brod, 212-661-2231