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SINGAPORE, July 10, 2014 /PRNewswire/ - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I.F), a developer of leading-edge photonics technologies for medical, industrial and scientific markets, today announced it has signed a letter of intent with Aquarius, a member of Russia`s National Computer Corporation, to acquire 20 percent of its wholly owned subsidiary, Zecotek Display Systems Pte Ltd., for US$7 million. The investment in Zecotek Display Systems will be used to complete the commercialization of two patented 3D displays for flat screen and large screen formats, and a novel high-speed 3D printer for rapid manufacturing and rapid prototyping.
"The development of this relationship with Aquarius is a significant endorsement of our 3D display and printing technologies. It is also a pleasant story as our Canadian based 3D team of scientists are of Russian origin," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "By partnering with Aquarius and the National Computer Corporation of Russia through this strategic investment, Zecotek will complete the commercialization and integration of the 3D printer technology, the patented auto-stereoscopic 3D flat screen monitor, and the auto-stereoscopic 3D large format screen. Aquarius has recognized the value of our 3D technologies and we look forward to collaborating further for a speedy move to commercialization of our patented and patent pending technologies."
Aquarius is a leading computer company. With over 200 service centers in 135 cities of the Russian Federation, the Corporation has an extensive product portfolio which includes: personal computers, servers, note-books, all-in-one thin clients, data storage systems and clustering solutions. Aquarius is a provider of end-to-end computer solutions to the industrial markets of Russia.
"Zecotek's unique 3D technologies provide for value added solutions and find clear synergy with our products," said Mr. Vladimir Shibanov, Executive Vice-President of the Aquarius Group and CEO of the Production Company Aquarius. "The possibilities are real and varied. A high speed, auto-stereoscopic multiple view and glasses free desktop monitor would open many applications and so would the interfaced 3D printing peripherals. We look forward to executing the LOI and providing Zecotek 3D Company, with the necessary support to complete their work and take their products to market."
Zecotek Display Systems is a wholly owned subsidiary of Zecotek Photonics. It owns a valuable portfolio of patented and patent pending 3D technologies. The main technologies include:
The 3D patent portfolio includes allowances from the United States, China, Europe, Eurasia, Russia and Australia. Other patents have been filed and are pending in Japan, Korea and India. Zecotek Display`s glasses free patented 3D Display System is based on the auto-stereoscopic principle, but with substantial innovative and patented improvements and represents a new and unique generation of 3D displays. It has the capability of simultaneously presenting 3D and 2D images on the same screen, and for separate views at different viewing angles. Zecotek Display`s 3D printer technologies includes a 3D printer and a 3D printing interface platform between existing and future generations of 3D printers and its own patented 3D display technology. The 3D printer and printing platform offers design, cost, and time advantages when used with Zecotek Display's glasses free, auto-stereoscopic, multi-view, HD 3D display.
Production company Aquarius is the Russian manufacturer of computer equipment and complex solutions for corporate and government segments. Aquarius has been successfully working on the IT market for over 25 years, producing modern desktops, notebooks, servers and specialized hardware and software solutions for informational security. The main priority of Aquarius is creation of complex solutions for the key economic sectors of industry, transport, communications, banking and financial, research, health, social protections, education and culture. It has a modern stacker conveyor-manufacturing in Shuya (Ivanovo Region) and R&D Department in Moscow. Aquarius is part of the largest IT-structure in Russia: the National Computer Corporation.
Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing high-performance scintillation crystals, photo detectors, positron emission tomography scanning technologies, 3D auto-stereoscopic displays, and lasers for applications in medical, high-tech and industrial sectors. Founded in 2004, Zecotek operates three divisions: Imaging Systems, Laser Systems and 3D Display Systems with labs located in Canada, Korea, Russia, Singapore and U.S.A. The management team is focused on building shareholder value by commercializing over 50 patented and patent pending novel photonic technologies directly and through strategic alliances and joint ventures with leading industry partners such as Hamamatsu Photonics (Japan), the European Organization for Nuclear Research (Switzerland), Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems (South Korea), and National NanoFab Center (South Korea). For more information visit www.zecotek.com, follow @zecotek on Twitter.
This press release may contain forward-looking statements that are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.
The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange, in each of five major industry sectors - mining, oil & gas, technology & life sciences, diversified industries and clean technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2013.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future please visit the corporate website at www.zecotek.com.
SOURCE Zecotek Photonics Inc.
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