Innovative Eyewear Launches Upgraded Charging Dock

17 November 2023

Tekcapital Plc

("Tekcapital")

Innovative Eyewear, Inc. Launches Upgraded Charging Dock

for ChatGPT Enabled Smart Eyewear

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group announces that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer of ChatGPT smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, launched a new edition of the Company's patent-pending Lucyd Dock ("Dock") product for its smart eyewear.

The Lucyd Dock is a first-of-its-kind charging accessory for smart eyewear. Users can simply drop Lucyd Lyte eyewear on the Dock to charge, just as they would drop traditional glasses on the nightstand or desk before bed.

According to Innovative Eyewear, several core improvements have been added to the Dock 2.0, while maintaining the manufacturer's suggested retail price of US$34.99. The new features include:

•     Cordlessly connects to all Lucyd Lyte models with new auto-adjusting magnetic contacts.

•     Works with all Lucyd models including petite, medium and new XL pairs.

•     Indicator light turns on when charging and shuts off when charging complete.

•     Two USB-A and one USB-C charging port to simultaneously charge your smartphone, smartwatch and other devices in addition to Lucyd Lyte.

•     USB data capability so you can use the Dock as a USB hub for your computer - read flash drives, connect your mouse and keyboard, and more.

•     More compact and travel-friendly than the Dock 1.0.

•     New 99% post-consumer recycled packaging with 5-language product info for global sales.

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

"We are closer than ever to our goal of the world's most user-friendly smartglasses with the launch of the Lucyd Dock 2.0. I am confident our customers will enjoy using the Dock to keep their various devices charged and their cables more neatly organized. By adding the new USB data functionality enabling the Dock to be used as a USB hub for computers, we have made it even more of a must-have accessory for our smart eyewear customers."

The new Dock, works with all models of Lucyd Lyte eyewear and is available at www.Lucyd.co. The new Dock will also be offered to Innovative Eyewear's wholesale and retail distribution partners.

To see Lucyd Lyte and its seamless voice access to ChatGPT in action, watch the new video.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our 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.

Lucyd glasses placed on the Dock to charge

Photo courtesy of Innovative Eyewear Inc.

Tekcapital currently owns 5,189,086 shares of Innovative Eyewear, Inc. (approximately 40%).

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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, 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.