18 August 2022

Tekcapital Plc

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

Portfolio Company Update: Lucyd Ltd ("Lucyd")

Innovative Eyewear Inc. Announces Debut of their Lucyd Lyte Fall '22 Collection

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products is pleased to announce that Innovative Eyewear Inc. (NASDAQ: LUCY; LUCYW), a developer and retailer of smart eyewear designed to allow the users to remain connected to their digital lives, today announced the launch of their Lucyd^® Lyte Fall '22 smart eyewear line.

The product debut introduces four new designer smart frames and the new Lucyd charging dock accessory. Strategically embedded, streamlined hinges integrated with the latest fashion trends make these frames the most stylish releases to-date for the company. Additionally, these new designs bring improvements to the build quality and audio fidelity of all Lucyd frames. The new Lucyd dock accessory can wirelessly charge all Lucyd Lyte models and up to three other USB-charged devices simultaneously, offering an organized and compact way to charge your go-to devices. The dock makes charging Lucyd eyewear as easy as setting the glasses down on your nightstand, making the Lucyd experience more user-friendly than ever. 

View the new products here.

Harrison Gross, Lucyd CEO & Cofounder said, "Our mission at Lucyd has always strived to be the 'go-to upgrade' of your eyewear from sunglasses to prescription frames you wear all-day, everyday day. Simply put, the Lyte Fall '22 collection comprises our most advanced glasses yet. The new hinge design offers a sheerness that makes the frames almost indistinguishable from traditional designer eyewear. Our new Jupiter style weighs just 1oz; it's aesthetically refined and we believe is one of the lightest smart eyewear lines available today. Finally, the Lucyd charging dock is a new, patent-pending accessory that makes charging the glasses wireless and worry-free."

To celebrate the launch, Lucyd is offering 10% off all purchases on Lucyd.co for a limited time. With the introduction of the Lyte Fall '22 collection, there's never been a better time to #upgradeyoureyewear®. Customers can head to Lucyd.co and customize their frames with numerous lens options, including 16 tints available in a full range of prescriptions and a basic clear Rx lens starting at just $35. 

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of smart eyewear, which are designed to allow the users to remain connected to their digital lives, while also offering prescription eyewear and sun protection. The Company believes that traditional frames, no matter how attractive, do not possess the functionality that many eyeglass wearers need and want. Smart eyewear is a multifunctional product that addresses the needs of the optical, hearables and digital assistant markets. We believe that the Company's products are well positioned in this rapidly growing wearables ecosystem, with the mission to Upgrade Your Eyewear®. For more information, please visit www.lucyd.co.

Tekcapital currently owns 100% of the share capital of Lucyd Ltd and 5,189,086 shares (approximately 70%) of its U.S. operating subsidiary, Innovative Eyewear, Inc.  

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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

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 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. 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.