Portfolio Company Update -Innovative Eyewear

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    30th October 2024

Tekcapital Plc

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

Innovative Eyewear Launches First ANSI-Certified

Smart Safety Glasses for All-day Wear

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 that it has officially launched Lucyd Armor™ - the world's first smart safety eyewear in a lightweight, affordable and prescription-ready form factor, and meeting the ANSI Z87.1 standard for workplace safety use.

The ANSI Z87.1 standard is a safety guideline for protective eyewear, ensuring it is strong enough to shield the eyes from hazards like debris, whilst providing impact resistance and protection in dangerous environments. The Company has also filed design and utility patents on the product which have been granted and allowed respectively.

Lucyd Armor™  is a category-defining smart safety glass that offers ANSI Z87.1-certified protection alongside instant ChatGPT access, auto-tinting lenses, a walkie-talkie voice over internet protocol,(VoIP) feature, and a form factor similar to stylish sport wrap-around glasses. Whether working in construction, logistics, healthcare, or utility industries, professionals can benefit from protective and productivity-enhancing technologies that boost overall efficiency while allowing them to stay connected throughout the workday.

Lucyd Armor™ first smart eyewear product for all-day industrial use.

Image courtesy Innovative Eyewear, Inc.

Key Features of Lucyd Armor^TM:

●    AI-Powered Integration: Gain instant access to Siri, Google Voice and ChatGPT for hands-free information, instructions, and communication, via Bluetooth 5.3 connection.

●    All-Day Comfort and Durability: The lightweight, one-size-fits-all design features adjustable silicone nose pads and no-slip flexible temples, ensuring secure and comfortable wear during long shifts. Patent-pending touch controls enable full use of the glasses with sweaty or gloved hands.

●    Adaptive Lenses: Photochromic lenses that adapt to changing light conditions, with anti-fog and anti-scratch coatings for superior visibility, which are included at no extra cost. Additional prescription and lens upgrades can be purchased here from Lucyd.co.

●    8-Hour Battery Life: Enjoy long-lasting battery with up to 8 hours of continuous music playback or 100+ hours of standby time for notifications and alerts.

In addition to these features, Lucyd Armor's open-ear audio system, AI-powered noise reduction microphones, and Bluetooth 5.3 connectivity provide workers with the convenience to take calls, access smart features and AI information, and listen to audio instructions while remaining aware of their surroundings. One of the standout features of Lucyd Armor™ is the walkie-talkie function, accessible via the Lucyd App, which facilitates enhanced team communication without requiring additional devices.

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

"Lucyd Armor™ sets a new standard in protective eyewear. We've combined cutting-edge technology with rigorous safety standards to offer professionals a smarter, more efficient way to stay protected on the job. This launch reflects our vision to lead the evolution of wearable tech in industries where safety and performance go hand in hand. It's time to Upgrade Your Eyewear^® with Lucyd Armor™ - there is nothing quite like it for working men and women."

The Company is already in discussion with several notable retailers about launching the Lucyd Armor™ product in brick and mortar locations. Lucyd Armor™ is officially available for purchase on Innovative Eyewear's Lucyd.co website, bringing unparalleled protection and connectivity directly to your fingertips. Secure your pair today and experience the intersection of safety and innovation.

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 contains certain forward-looking statements, including those relating to the anticipated introduction of new products and features, and timing of improvements and enhancements to our current products. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the expected launch date for the new smart safety eyewear connection. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors."