SINGAPORE, July 21, 2014 /CNW/ - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I.F), a developer of leading-edge photonics technologies for medical,
industrial and scientific markets, today announced that its wholly
owned subsidiary Zecotek Display Systems Pte. Ltd. has contracted
LT-PYRKAL of Yerevan, Armenia, to assemble and test its first compact,
high-speed 3D printer which will use high-performance metal alloys and
offer technical and commercial advantages over other 3D printing
technology. Zecotek and LT-Pyrkal previously announced a partnership in
February 2014. Since that time a number of key technical challenges
have been solved and LT-Pyrkal will now proceed with the assembly of
the new 3D printer, which will be used for both prototyping and distributed manufacturing with specific applications in electronics, aerospace, automotive,
mechanical and healthcare industries.
"With our partner LT-PYRKAL, we are assembling and testing our first 3D
printer which will have the ability to use an extended and varied list
of alloys to "print" metal components for targeted industries," said
Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics
Inc. "Our technical team of scientists have identified a unique
approach to handle high-performance metal alloys with our compact
high-speed 3D print technologies. The advantage of our design is the
compactness, speed and quick transition from prototyping to 3D
manufacturing at all levels of production. Add the ability to handle
high-performance metal alloys and the size of the market grows
considerably. We are excited about the prospect of being a key leader
in an industry that will revolutionize manufacturing."
LT-PYRKAL is a long time contract partner of Zecotek which developed a
number of key electro-mechanical elements for Zecotek's patented 3D
display technology. The company is known for its experience in
automation systems, component design and product development across
many industries. It has working relations with both small and large
organizations and has completed large projects for local government
"We look forward to continuing to build on our growing relationship with
Zecotek by completing the assembly and testing of their first compact
high-speed 3D printer and assist them to move to full production and
sales," said Mr. Gagik Buniatyan, General Director of LT-PYRKAL.
3D printing is the process of making three dimensional solid objects from a digital model by laying down successive layers of material in different shapes.
Zecotek and LT-PYRKAL have identified a unique method of printing with
high-performance metal alloys with its proprietary compact, high-speed
3D printing technologies. This will provide companies to evaluate a
broader range of product models in less time to improve design
throughout the product development process. Rapid prototyping enables
faster more efficient production, while rapid manufacturing enables
higher productivity, economical customization, improved quality and
Total annual sales and service of 3D printers has reached $2 billion.
Leading industry analysts predict continued significant growth with
annual sales of 3D printing reaching $4 billion by 2015, and over $10
billion by 2021. The rapid growth in the 3D printing market is due to
the improving performance of additive equipment and the expanding range
of materials being used. Although 3D printing has now become cheaper
and more customizable than regular manufacturing methods, Zecotek and
LT-PYRKAL have identified a number of opportunities to improve 3D
printing technology. Patents will be filed as required.
LT-PYRKAL is a Greek-Armenian research, development and production
company, specializing in crystal growth, laser accessories and
components, lasers and systems. LT-PYRKAL was established in 1999 and
today employs over 250 highly qualified specialists and occupies over
30,000 square meters of industrial facilities for synthetic crystal
growth, opto-mechanics and laser electronics manufacturing, and laser
and EO Systems development. For more information please visit: http://www.lt-pyrkal.com/en/.
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.
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Image with caption: "Zecotek: Leading the Way in Photonics (CNW Group/Zecotek Photonics Inc.)". Image available at: http://photos.newswire.ca/images/download/20140721_C8297_PHOTO_EN_42208.jpg
SOURCE: Zecotek Photonics Inc.
For further information:
Zecotek Photonics Inc.
Unit 1120 - 21331 Gordon Way
Richmond, BC V6W 1J9
T: (604) 783-8291