RCS - Tekcapital plc - Portfolio Company Update - Innovative Eyewear

TekcapitalAnnouncement

25/11/2024 09:15

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RNS Number : 5077N  Tekcapital plc  25 November 2024

 

      25th November 2024

Tekcapital Plc

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

Innovative Eyewear Launches Four New Lucyd Lyte Smart Glasses

 

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 that it has
officially launched the Lucyd Lyte 2024 Edition, bringing several improvements
to the Company's core product line. Key enhancements over previous models
include improved adjustability and durability, reduced weight, and upgraded
lenses.

New Lucyd Lyte® 2024 Millennia style.

Photo courtesy of Innovative Eyewear, Inc.

 

Lucyd Lyte 2024 Upgrades include:

 

●          New TR90 Temple: A new flexible plastic composite is
used in the frame temples and fronts, making Lucyd Lyte 2024 the Company's
first smart eyewear that is fully optician-adjustable, from front to tip. This
helps to ensure a proper fit on a much wider range of users than ever before.
The additional flexibility also improves the overall durability of the frames.
TR90 plastic is also lightweight, enabling the new glasses to be nearly 10%
lighter than the previous edition of Lucyd Lyte, reducing the weight from 48
to 44 grams.

 

●          Improved Smart Features: The Lucyd app powers the new
Lucyd Walkie experience, enabling users worldwide to connect with each other
for free over the Company's VOIP-powered chat service. The ChatGPT integration
has been upgraded to ChatGPT-4o. The frames' charging ports have been enhanced
with higher power magnets to optimize the charging experience. Finally, a
battery level feature can be used by long-pressing the button on either
temple, to have the battery life remaining announced to the wearer. The wearer
can also check the battery life of the frames by swiping down to view the
control centre on a connected smartphone or watch.

 

●          Adaptive Lenses: The Darkside and Eclipse unisex
wayfarer models include transitional lenses at no additional cost to the
customer. The Millennia and Moonrise models include polarized gradient lenses
for maximum sun protection.

 

●          New Health & Safety Info: An improved 5-language
manual and a detailed health and safety guide provide comprehensive
instruction on the products.

 

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

 

"Lucyd Lyte 2024 brings several significant improvements to our flagship
frames, most notably the improved TR90 materials enhancing durability, fit and
comfort for all-day wear. The addition of photochromic light-adaptive lenses
as standard on some of the units, often seen as a $75-$100 upgrade, are
included here at no additional cost, making these frames more versatile than
ever and a tremendous value to the consumer.

 

Our team continues to raise the bar for smart eyewear, by providing a
best-in-class connectivity solution for working professionals and active
lifestyles. For consumers who want more out of their daily eyewear, Lucyd Lyte
2024 is the ideal solution. We anticipate these improvements, and additional
sound and build quality improvements, to be introduced to our Reebok, Nautica
and Eddie Bauer Powered by Lucyd product lines in 2025."

 

Lucyd Lyte 2024 is officially available for purchase on Innovative Eyewear's
www.Lucyd.co (http://www.Lucyd.co)

website.

 

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. 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 contains certain forward-looking statements, including
those relating to the anticipated introduction of new products and features,
and timing of improvements and enhancements to our current products.
Forward-looking statements are based on the Company's current expectations and
assumptions. The Private Securities Litigation Reform Act of 1995 provides a
safe-harbor for forward-looking statements. These statements may be identified
by the use of forward-looking expressions, including, but not limited to,
"anticipate," "believe," "continue," "estimate," "expect," "future," "intend,"
"may," "outlook," "plan," "potential," "predict," "project," "should," "will,"
"would" and similar expressions that predict or indicate future events or
trends or that are not statements of historical matters, but the absence of
these words does not mean that a statement is not forward-looking. These
forward-looking statements include, but are not limited to, statements
regarding the expected launch date for the new smart safety eyewear
connection. The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information, future
events or otherwise. Important factors that could cause actual results to
differ materially from those in the forward-looking statements are set forth
in the Company's filings with the Securities and Exchange Commission,
including its annual report on Form 10-K under the caption "Risk Factors."

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