LEUVEN, Belgium, March 22, 2022 (GLOBE NEWSWIRE) -- MICLEDI Microdisplays, a leading developer of microLED arrays for augmented reality (AR) glasses, today announced a manufacturing collaboration with GlobalFoundries (GF) to enable AR glasses to achieve the brightness, resolution, power, size, and economies of scale needed to become affordable for consumers.

Under the agreement, MICLEDI’s solution will be combined with GF’s 22FDX® feature-rich platform that provides the leadership performance, ultra-low power and broad feature integration capability needed to build MICLEDI’s microLED arrays in mass production. Such companion integrated circuits (ICs), which can be customized for different customer applications, will provide the image processing, driver and control functions needed to complete the display modules using wafer-to-wafer hybrid bonding.

The overall global AR market is estimated to reach $88.4 billion (USD) by 2026 with a compounded annual growth rate of 31.5% from 2021 to 2026 as it becomes the next consumer platform.1

"Demand for AR and VR products will soar as users experience more immersive augmented reality," said Ed Kaste, vice president of Industrial and Multi-Market at GlobalFoundries. "MICLEDI's microLED solution, combined with GF's 22FDX platform, addresses the demanding needs of future AR glasses by providing ultra-high resolution displays and advanced imaging technology that make stunning visual detail and color possible.”

“We are pleased to collaborate with GF as we move from pilot-line manufacturing to mass production in a world-class fab,” said Sean Lord, CEO at MICLEDI Microdisplays. “To enable optimum microdisplays for AR, MICLEDI has developed a unique and innovative solution for microLED manufacturing integrating both the controller IC and emitter module to leverage GF's 300mm semiconductor manufacturing technology, capitalizing on manufacturing precision for product performance, high volume and low-cost.”

About MICLEDI Microdisplays MICLEDI Microdisplays is a fabless developer of microLED display modules for the augmented reality (AR) market. The company was spun-out from IMEC, a highly respected Belgian R&D center, in 2019. MICLEDI’s technology is based on an innovative combination of III/V materials processing, 3D integration and 300mm silicon-based processing combined with a proprietary ASIC to provide a self-contained, compact monolithic AR display with high image quality and power efficiency. For more information, visit www.micledi.com.

1: Source: MarketsandMarkets. https://www.marketsandmarkets.com/Market-Reports/augmented-reality-market-82758548.html?gclid=Cj0KCQiAmeKQBhDvARIsAHJ7mF7ZyQ1FAVBNq2dlUyadghTv2Lu-7uYuYxvgiea8XWHHki6Cq_QGfVgaAl0uEALw_wcB

Media Contact: Jessica Roland Lages & Associates (949) 453-8080 Jessica@lages.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fb40542e-44d1-4be5-8f21-f761cdcf0aff

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