Shares of WiMi Hologram (NASDAQ:WIMI) stock are heading higher on Wednesday after the company announced a newly obtained patent.
The China-based provider of hologram augmented reality (AR) technology said that it received a patent for a 3D holographic pulse laser processing device to advance optical holography use. In turn, many major sectors of business will utilize this type of technology. This includes areas like autonomous driving, medical imaging, unmanned flight and more.
According to the release, “the Patent is a result of WiMi’s independent research and development and will allow the Company to further improve its intellectual property protection system.” Moreover, as the electric vehicle (EV) industry continues to grow, WiMi Hologram expects pulse laser holography to have a larger role in improving autonomous driving in EVs.
With that in mind, here is more of what WiMi Hologram said about the their new technology:
For example, during the autonomous driving processes of EVs, the distance between the focus lens and laser must be adjusted quickly and accurately. When an object becomes farther from or closer to the focal lens, the laser passes through the focal lens and transparent protective board to reach the object. By evaluating the differences in reflections between different sized objects, WiMi’s [holographic pulse laser processing device] is capable of collecting and displaying clear holographic images.
WIMI stock was up 19.3% as of Wednesday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.