Company Announcements

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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 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] 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] 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.

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.

LEI: 213800GOJTOV19FIFZ85

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

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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.