Icron Repays Technology Research Loan and Gains Additional 2% Margin on
BURNABY, BC, May 20 /CNW/ - Icron Technologies (TSX Venture: IT), the
leading provider of USB extension solutions, announced today that it has sold
over $40 Million in USB Extension products since the commercialization of its
patented ExtremeUSB(R) USB Extension technology. This market success has
allowed Icron to complete the $750,000 repayment of its National Research
Council of Canada Industrial Research Assistance Program (NRC-IRAP) loan that
helped fund the development of its ExtremeUSB technology. The loan repayment
marks a significant milestone for Icron, and is attributed to the worldwide
success of its USB 1.1 and USB 2.0 Extender product portfolio.
The NRC-IRAP Loan Agreement, signed on November 15, 1998, detailed
$500,000 of funding to be used in the development and commercialization of
Icron's USB Extension technology. The joint program between NRC-IRAP and
Industry Canada`s Technology Partnerships Canada (TPC) required that Icron
repay the funds, to a maximum of 150%, or $750,000, at a rate of 2% of the
company's gross revenues earned over the 10 year term of the loan. Icron has
now completed the final payment of the loan, which under the 2% repayment
terms, represents over $37,500,000 worth of USB Extenders sold into the market
prior to December 31, 2008. Icron's cumulative shipments of USB Extenders have
now eclipsed $40 Million.
"With over $40 Million of ExtremeUSB products in the market, Icron has
become the worldwide defacto standard in the USB Extension space", says Brian
Donnelly, Vice President, Sales and Marketing. "The National Research Council
of Canada Industrial Research Assistance Program significantly helped Icron
develop our unique hardware-based USB Extension solution that maintains all of
the benefits of native USB at distances of up to 40 kilometers," notes
Based upon the successful market acceptance of Icron's ExtremeUSB(R)
product line, the company will continue to broaden its product portfolio. This
includes the introduction of several new products this year, with additional
features such as Remote Power, Fiber media support and USB plus Video
About Icron Technologies Corp.
Icron Technologies is a visionary leader in high performance PC and USB
extension solutions for commercial and industrial markets worldwide. Icron's
USB extension and bridging products are deployed in a wide range of
applications including: digital home connectivity, industrial automation,
medical imaging, aerospace, and KVM extension. Icron's patented ExtremeUSB(R)
technology extends the range of USB 1.1 / 2.0 over Cat 5, Wireless, Fiber,
Powerline, Coax and Phone lines, at distances of up to 25 miles (40 km).
ExtremeUSB technology is available in a variety of formats including branded
and private-label products, and OEM embedded hardware and developer kits.
Icron is a publicly traded corporation and trades under the symbol "IT"
on the TSX Venture Exchange. For more information on the company and its
products, please visit www.icron.com.
For further information:
For further information: Media Contact: Susan Kirk, Kirk PR, Public
Relations Contact for Icron, (604) 315-9959, email@example.com