13 December 2023

Tekcapital Plc

("Tekcapital")

Innovative Eyewear, Inc. Announces the 2.0 Release

of its Android ChatGPT App for 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 smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, is pleased to announce a key update to the Company's Lucyd app for Android, the first app to enable a voice interface for ChatGPT.

The launch of the 2.0 update delivers powerful new features and usability improvements, following similar upgrades made to the iOS version earlier this year. 

·  A ChatGPT toolbox has been added to the app with the following capabilities: the ability to write a paragraph of text from a voice prompt, translate English into Spanish, synopsize long tracts of text, improve the readability of text, generate an email with a prompt, and analyze the emotion of text. These tools use pre-specified parameters to generate useful types of analysis and copywriting from ChatGPT more rapidly.

·  An updated visual interface, with smoother graphics and intuitive controls for a more user-friendly experience.

·  Textual chat responses to queries now appear in an updated stream format.

·  The voice quality of the app's text-to-speech functionality has been improved.

·  The sharing feature has been updated to include the ability to export ChatGPT responses to email, SMS and social apps.

·  Additionally, the app is in the final stages of approval with Google for enabling handsfree Google Voice access to ChatGPT on Lucyd Eyewear. This final feature of the 2.0 update is expected to go live later this month.

To see the Lucyd app in action, please watch the new video here.

To download the new Lucyd app for Android visit the Google Play Store.

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

"We are excited to launch the new version of the Lucyd app for Android, which powers seamless voice access to ChatGPT on Lucyd eyewear. The new state-of-the-art interface makes the world's most popular AI language model easier to use than ever on our glasses and while on the go. We look forward to introducing additional features, a shop, and a pro version of the app in the near future. We also anticipate making the app a hub for connecting to multiple AI systems through our glasses with voice control, as outlined in our pending utility patent on the app. We believe this will deliver more functionality to our community and foster the development of an additional revenue stream from users of other "hearables" that want seamless voice access to ChatGPT."

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 Lyte Smart Eyewear Powered with ChatGPT

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.