RCS - Tekcapital plc - Innovative Eyewear Launch of Smart Safety Eyewear

TekcapitalAnnouncement

18/09/2024 08:00

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RNS Number : 5840E  Tekcapital plc  18 September 2024

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    18 September 2024

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Innovative Eyewear to Unveil ANSI-Certified Smart Safety Eyewear at Vision
Expo West

 

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group notes
that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW),
the developer and retailer of ChatGPT enabled smart eyewear under the Lucyd®,
Nautica®, Eddie Bauer® and Reebok® brands, has announced the unveiling of
their first American National Standards Institute (ANSI) certified smart
safety eyewear at Vision Expo West
(https://west.visionexpo.com/?utm_source=cmv3-google&utm_campaign=PPC-Attendee-Reg&utm_medium=ppc-search&utm_term=PPC1&gad_source=1&gclid=CjwKCAjw0aS3BhA3EiwAKaD2ZWEBoDO9b6gQXDHo4S5iFpUKir111EcSp30hqDbh2yI58ujUZGTWAxoCldoQAvD_BwE#/)
in Las Vegas, Nevada, September 18th-21st 2024.

 

This launch comes at a pivotal moment, as the smart eyewear market has
surpassed one million units sold in the last 12 months. 1  (#_ftn1) The Armor
line represents a breakthrough in safety and technology, offering wearers
advanced eye protection as well as handsfree connectivity and smart
functionality designed for professional environments. This product has the
potential to open new commercial markets and retail segments for Innovative
Eyewear, such as logistics and medical companies, as well as hardware
retailers. The Armor will be Innovative Eyewear's first wrap-style sunglass,
which aligns well with consumer trends, and comes standard with
light-reactive, auto-tinting lenses for flexible indoor and outdoor use.
Innovative Eyewear has pending design and utility patents covering the
product.

 

Lucyd Armor frames and their shelf-ready retail packaging courtesy of
Innovative Eyewear Inc.

 

Harrison Gross, CEO of Innovative Eyewear Inc., commented:

"After two years of rigorous development, we are very pleased to present our
smart safety eyewear to the optical industry. Along with the unveiling of our
Reebok sport smartglasses and fully adjustable Lucyd Lytes, we are meeting our
mission to add smart features to the four most popular types of eyewear:
prescription eyeglasses, ready-to-wear sunglasses, safety glasses and sport
glasses. The safety glass market alone is expected to grow to US$4bn by
2030 2  (#_ftn2) and we believe our Lucyd Armor smart eyewear will be
well-received due to its value pricing and high utility."

 

The Armor is anticipated to start shipping to retailers and consumers in
October 2024. To learn more about our ChatGPT enabled smart eyewear, please
visit www.lucyd.co or Innovative Eyewear's  Vision Expo West booth #P19027.

 

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of ChatGPT smart eyewear, under
the Lucyd(®), Nautica(®), Eddie Bauer(®) and Reebok® brands. True to their
mission to Upgrade Your Eyewear(®), their Bluetooth audio glasses allow users
to stay safely and ergonomically connected to their digital lives and are
offered in hundreds of frame and lens combinations to meet the needs of the
optical market. To learn more and explore our continuously evolving collection
of smart eyewear, please visit www.lucyd.co (http://www.lucyd.co) .

 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed
discoveries that can enhance people's lives and provides a range of technology
transfer services to help organisations evaluate and commercialise new
technologies. Tekcapital is quoted on the AIM market of the London Stock
Exchange (AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com. (http://www.tekcapital.com.)

 

LEI: 213800GOJTOV19FIFZ85

 

Tekcapital currently owns 259,455 shares of Innovative Eyewear, Inc.

 

For further information, please contact:

 

 Tekcapital Plc                                                                                          Via Flagstaff
 Clifford M. Gross, Ph.D.

 SP Angel Corporate Finance LLP                                                                          +44 (0) 20 3470 0470

 (Nominated Adviser and Broker)
 Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees
 (Corporate Broking)

 Flagstaff Strategic and Investor Communications                                                         +44 (0) 20 7129 1474
 Tim Thompson/Andrea Seymour/Fergus Mellon

 

Forward-Looking Statements

This press release is for informational purposes only. The information herein
does not constitute investment advice nor an offer to invest and may contain
statements related to our future business and financial performance and future
events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital
that may constitute forward-looking statements. These statements may be
identified by words such as "expect," "look forward to," "anticipate"
"intend," "plan," "believe," "seek," "estimate," "will," "project" or words of
similar meaning. We may also make forward-looking statements in other reports,
in presentations, in material delivered to customers, stakeholders and in
press releases. In addition, our representatives may from time to time make
oral forward-looking statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or
Lucyd's management. Please note that these are subject to a number of risks,
uncertainties and factors, including, but not limited to those described in
various disclosures. Should one or more of these risks or uncertainties
materialize, or should underlying expectations not occur or assumptions prove
incorrect, actual results, performance or achievements of Innovative Eyewear
Inc., Lucyd and/or Tekcapital may vary materially from those described
explicitly or implicitly in the relevant forward-looking statement. Other than
as required by relevant regulation or law,  neither Innovative Eyewear Inc,
Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which differ from
those anticipated.

 

 1  (#_ftnref1)
https://observer.com/2024/09/ai-smart-glasses-startup-challenge-meta/

 

 2  (#_ftnref2)
https://www.maximizemarketresearch.com/market-report/global-safety-eyewear-market/111306/

 

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