Overview

MicroVision, Inc. (MVIS) is a pioneer in laser beam scanning (LBS) technology that is marketed under the brand name PicoP®. The Company has developed a proprietary scanning technology that can be used in products for interactive projection, consumer LiDAR, automotive LiDAR, and augmented and mixed reality. Their PicoP® scanning technology is based on their patented expertise in systems that include micro-electrical mechanical systems (MEMS), laser diodes, opto-mechanics, and electronics and how those elements are packaged into a small form factor, low power scanning engine that can display, interact and sense, depending on the needs of the application. 

The Company's business strategy includes selling LBS engines to original equipment manufacturers (OEMs) and original design manufacturers (ODMs). They plan to offer scanning engines to support a wide array of applications: an interactive scanning engine for smart home speakers and other Internet of Things (IoT) products, a light detection and ranging (LiDAR) engine for consumer electronic applications, and solutions for augmented and mixed reality devices. They also are developing LiDAR for automotive collision avoidance systems.

In addition to selling engines, they have licensed technology to other companies for incorporation into their scanning engines for projection. They sell customers key components needed to produce laser scanning engines and/or license technology in exchange for a royalty fee or margin for each scanning engine they sell. Companies to whom they license technology are typically OEMs or ODMs who are in the business of making components or products ready for sale to end users. 

The Company has incurred substantial losses since inception and is expected to incur a significant loss during the fiscal year ending December 31, 2019.1

Technology

The Company's patented PicoP® scanning technology combines a MEMS scanning mirror, laser diode light sources, electronics, and optics that are controlled using a proprietary system control algorithms along with edge computing and machine learning in some systems. The bi-directional MEMS scanning mirror is a key component of the technology system and is one of the company's core competencies. The MEMS design is a silicon device with a one-millimeter mirror at the center. This mirror is connected to small flexures that allow it to oscillate vertically and horizontally to generate an image pixel-by-pixel for use in sensing and display. Scanning engines can operate in three modes: display only, display and sensing combined, and sensing only. For applications that include a projected display, the PicoP® scanning technology creates a brilliant, full color, high-contrast, uniform image over the entire field-of-view from a small and thin engine with low power consumption. For 3D LiDAR scanning applications, the engine is small with high resolution, low power and low latency which are features that are important for such applications.

Markets

The Company's PicoP® scanning technology system strategy is focused on addressing the following market segments:

  • Interactive and non-interactive pico projection;
  • 3D LiDAR sensing for consumer electronics, automotive collision avoidance; and
  • Augmented/Virtual Reality (AR/VR).

Interactive and non-interactive pico projection, 3D LiDAR sensing, and AR/VR are the most promising applications in the near to mid-term. In interactive projection, the company's goal is to enable an interactive screen experience produced on demand by a small system for AI connected devices such as smart speakers. The solution would allow users to perform micro transactions by augmenting the capabilities of these voice controlled devices, making transactions more intuitive and easier to perform. By working on a variety of surfaces in conjunction with smart devices, these solutions provide the functionality of display screens while reducing the size requirements of display screens in the home.

The company has developed 3D LiDAR sensing capabilities in their LBS engine. This allows the LBS engine to sense what is in front of it and where that object is in space. If we project an image on a surface and use our 3D LiDAR sensing capability concurrently, we are able to create an LBS engine where a user can touch the projected image or interact with the image using gestures and it will react much like a touchscreen. We call this interactive display. We believe that interactive display can enable a whole new category of smart IoT products.

Additionally, the company is working to bring to market 3D LiDAR sensors. The consumer 3D LiDAR sensor the company is developing is a small sensor able to capture information about what is in front of the sensor with high accuracy and high fidelity. We see applications for this sensor in smart home and smart home security products and in commercial space management. The company is also working on LiDAR modules for automotive collision avoidance systems.

References

  1. ^ https://fintel.io/doc/sec-mvis-microvision-10k-2019-march-06-17961
Tags: US:MVIS
Created by Wilton Risenhoover on 2019/10/05 05:42
     
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