CORNING, N.Y. & BALTIMORE, M.D. | Corning Incorporated | October 22, 2020
Strategic agreement will advance solutions for emerging augmented and mixed reality technologies
Corning Incorporated (NYSE: GLW), the world’s leading manufacturer of optical materials, including high-refractive index glass that enables superior image quality for augmented and mixed reality (AR/MR) wearables, and Pixelligent, a leading high-quality compound material supplier, on Thursday announced a new strategic collaboration to further the development of AR/MR optics. Pixelligent’s resins, which are optically transparent polymers, paired with Corning’s glass will help reduce product-development time and expand availability of AR devices.
Corning has several years of experience delivering mass-produced quantities of ultra-flat, high-index glass wafers for leading AR device makers. The inherent properties of glass, paired with industry-leading materials science and optical design expertise, make Corning uniquely suited to help customers deliver increasingly demanding functionality for consumer electronics.
“Corning is continually pursuing opportunities with companies to progress AR technology, and our work with Pixelligent is the latest demonstration of our commitment to delivering the next-generation of life-changing innovations,” said Dr. Xavier Lafosse, commercial technology director, Advanced Optics. “We are confident in our capabilities and will continue to support OEMs with the right materials, machinery, and design expertise to prepare for mass adoption of augmented- and mixed-reality devices.”
“This strategic collaboration with Corning brings together our PixClear® high-index Designer Compounds™ that deliver unparalleled brightness, clarity, and field-of-view for extended-reality devices, with Corning’s best-in-class, high-index precision glass wafers,” said Craig Bandes, president & CEO of Pixelligent Technologies. “Combining the two reduces development complexity and simplifies the supply chain for optical designers and device makers in this rapidly emerging field of augmented and mixed reality.”
Corning’s total solutions for glass and adjacent technologies support the industry’s growing demand for AR devices. The company remains committed to driving consumer availability of AR/MR wearables by providing customers with a full suite of world-class capabilities.
Caution Concerning Forward-Looking Statements
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the duration and severity of the recent COVID-19 (coronavirus) outbreak, and its ultimate impact across our businesses on demand, operations and our global supply chains; the effects of acquisitions, dispositions and other similar transactions by the Company, the effect of global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; and the potential impact of legislation, government regulations, and other government action and investigations.
For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
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About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include mobile consumer electronics, optical communications, automotive technologies, life sciences technologies, and display technologies.
Pixelligent has reinvented the way composite materials are made by synthetically replicating a broad set of metal oxide materials found in nature. PixClear® Designer Compounds™ deliver a combination of properties, operating efficiencies and never-before-seen performance for Augmented and Virtual Reality, OLED/QD/LED displays, optical sensors, solid-state lighting, and energy-related applications. Our proprietary product development and fully scaled manufacturing platform, the PixClearProcess®, enables Pixelligent to engineer PixClear materials to seamlessly integrate into the most common manufacturing processes, including ink jet, nanoimprint, spin coating, dispensing, slot-dye, and photolithography. Our PixClearProcess utilizes a fraction of the footprint required by traditional chemical companies, and our efficiency-enhancing PixClear materials can deliver terawatts of energy savings across display and solid- state lighting applications. Please visit us at www.pixelligent.com and follow us on LinkedIn and Twitter @Pixelligent.