SINGAPORE, July 6, 2015 /CNW/ - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I; OTCPK: ZMSPF), a developer of leading-edge photonics technologies for medical, industrial and scientific markets, is pleased to provide shareholders with a corporate update on its path to commercialize its leading-edge 3D display and 3D printing technologies. The Company was founded with a vision to grow shareholder value by commercializing photonic technologies that offer both superior performance and economic advantages over competing technologies. Zecotek`s internationally patented 3D auto-stereoscopic, full high definition display monitor and patent pending 3D metal printer provide substantial business opportunities for the robust and inevitable future markets based on 3D technologies.
3D Display Technologies
Zecotek's internationally patented technology is the only system that provides four key attributes required for commercial 3D display systems:
- No glasses required,
- Significant depth,
- Full high definition,
- Continuous multiple views with parallax effect.
The commercial system must also include design considerations and cost flexibility to cater to both industrial and consumer markets alike.
The past four years have shown that the consumer electronics market over promised and under delivered the technology necessary to be successful on a consumer basis. Products like 3D TV required the consumer to wear glasses to trick the eyes to see 3D, and content providers were slow to develop quality content. This has led to negative market sentiment toward 3D displays and little new development.
While Zecotek`s 3D display technology meets commercial requirements, the original design relies on a time sharing approach that demands speed and uses a digital light projector (DLP) with digital micro-mirrors. As a consequence, the Company's first 3D design is based on back projection. Fast technologies are being developed as an alternative to the DLP, and Zecotek will incorporate technologies such as fast OLED/LED to create a display that will offer a flat screen configuration for the consumer market at large. This is expected to happen over the next three years. Meanwhile, the high-end and specialized industrial, scientific, advertising and desktop gaming applications remain the focus of the Company and offer the most immediate commercialization opportunities, using the present DLP based design.
The Company is currently integrating real time streaming to its 3D display technology. This is scheduled to be completed by the third quarter of calendar 2015. A prototype will be built and the technology transferred to the product phase immediately after.
In July 2014, Zecotek announced an LOI with the Russian Government conglomerate, Aquarius. Due to external political reasons, the negotiations were put on hold. However, alternative efforts have taken place since, and the Company, is now finalizing joint agreements to transfer the technology with full financing and transition to a final product with developers and manufacturers working with high-end customers in well-defined specialized markets. The Company expects to inform shareholders about this joint collaboration, in the third quarter of calendar 2015.
3D Printer Technologies
Zecotek and its strategic Armenian based partners: the Institute of Chemical Physics and LT-Pyrkal have developed a unique manufacturing technology for metal powders to be used with 3D printers. The new manufacturing approach uses metal hydrides synthesis and has significant advantages over traditional techniques. These include high productivity, superior quality of synthesized hydride, significantly lower energy consumption, ecological purity and safety of the process among other key functional parameters.
The uniqueness of the 3D printing technology is the original hydride alloy powders and the printer engineering. Whereas, the industry is mainly using 3D printers for non-metal applications as well as specifically for prototyping, the Company's new approach is in the use of the 3D printer for the actual rapid manufacturing of metallic components for the industry at large, therefore replacing traditional production.
A working prototype of the high-speed 3D printer is being assembled and is scheduled for Q3 calendar 2015. A number of key technical challenges have been solved and the new 3D printer will be used for prototyping and distributed manufacturing with specific applications in electronics, aerospace, automotive, mechanical and healthcare industries.
Concurrently, Zecotek has been in discussions with two of the world`s largest 3D companies to explore joint commercial opportunities. The companies are testing Zecotek`s 3D printing technology and the results of negotiations, will be announced within the next three months.
Zecotek operates each of its divisions as autonomous entities, each with its own independent value proposition, therefore providing for flexible exit strategies, to give shareholders optimum return on investment, in a timely manner.
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, Optronics 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 including Hamamatsu Photonics (Japan), the European Organization for Nuclear Research (Switzerland), Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems (South Korea), the University of Washington (United States), and National NanoFab Center (South Korea). For more information visit www.zecotek.com, follow @zecotek on Twitter and "like" us in Facebook at www.facebook.com/zecotek.
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.
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.
For further information: Zecotek Photonics Inc., Michael Minder, T: (604) 783-8291, email@example.com