HOPEWELL JUNCTION, N.Y.--(BUSINESS WIRE)--Apr. 13, 2017-- 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 that it has been selected as a sole source provider of OLED microdisplays for a major US Army helicopter helmet upgrade. The program will retrofit high brightness, monochrome green microdisplays into the current fielded helmet. In addition to procuring displays, the initial contract will provide funding for engineering of production tooling as eMagin will be responsible for a higher-level display, taper, and lens assembly.
“This award reaffirms eMagin’s vision that high brightness OLED microdisplays represent the future technology in the markets we serve, including Military, Commercial and Consumer,” said Andrew Sculley, eMagin CEO. “Whether it involves surpassing the rigorous requirements of the aviation market, or creating truly immersive virtual reality experiences in the consumer segment, we believe that high brightness, OLED microdisplays are essential and that eMagin is well-positioned to capitalize on this evolving trend with the brightest OLED microdisplays available in the market today.”
After ground and flight testing have been completed, it is anticipated that full production will commence in 2018 and continue for several years to complete retrofits for over 1000 airframes.
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.
Source: eMagin Corporation
Jeffrey Lucas, 845-838-7931
Chief Financial Officer
MBS Value Partners
Betsy Brod, 212-661-2231