DURHAM, NC, May 12 -- Cree Research, Inc. has joined with Microvision, Inc., the developer of Virtual Retinal Display technology, to develop blue and green laser diodes and edge-emitting LEDs for use with scanned beam display systems. According to the terms of the agreement, Microvision will fund a one-year development program valued at $2.6 million, with a $2.5 million option to extend for an additional year at Microvision's discretion.Neal Hunter, Cree's chairman and CEO, said the research will expedite development of a commercially viable SiC blue laser by combining Cree's work with high performance blue and green LEDs and Microvision's proprietary optical scanning technology.