Innovega signs smart glasses LoI with global electronics supplier
Innovega, a developer of display eyewear for augmented reality, virtual reality (AR/VR) and Metaverse applications, recently signed a Letter of Intent agreement with an unnamed provider of electronic devices.
This is Innovega’s second Letter of Intent for evaluating opportunities for its next-gen display eyewear.
“Concluding this Letter of Intent is particularly gratifying as we targeted this company based on its reputation and they agreed to take this first step,” says CEO Steve Willey, in a press release. “Our product licensing model for Innovega’s smart contact lenses and smart glasses allows the Innovega team to remain focused on delivering world-class innovation. We continue to believe the licensing model will deliver maximum value to our shareholders.”
Innovega’s display system includes patented disposable soft smart contact lenses that are used in conjunction with its smart display glasses. This system is designed to meet wearers’ parallel demands for lightweight, stylish eyewear and high-resolution panoramic experiences.