Zecotek Photonics Inc. (“Zecotek” or the “Company”) (TSX-V: ZMS) (Frankfurt: W1I) (OTCPK: ZMSPF), a developer of leading-edge photonics technologies for healthcare, industrial and scientific markets, is pleased to announce an internal restructuring to better align its intellectual property, photonics technology and business functions across its three operating divisions: Zecotek Imaging Systems Pte. Ltd. (Singapore), Zecotek Optronics Systems Pte. Ltd., and ZecotekAutotronics Systems Pte. Ltd. (formerly known as Zecotek Display Systems Pte. Ltd.).
All three operating companies are incorporated in Singapore.
“Due to the considerable interest in our technology and investment potential in our operating divisions, it was necessary to better align our photonics technology, intellectual property and associated business functions across our three operating divisions,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. “We have recently completed two divisional equity financings in Zecotek Imaging Systems (Singapore) and Zecotek Imaging China, from the same strategic group, which puts us in a strong financial position moving forward. Our LFS Crystal Production Facility in Shanghai is coming online and has produced its first crystal boules. The company is building strength and gaining control of the production of its technologies.”
All patents, with the exception those patents covering LFS scintillation crystals, have been transferred to Zecotek Optronics Systems. Patents pertaining to the LFS scintillation crystals will remain in Zecotek Imaging Systems (Singapore).
Zecotek Display Systems has been renamed ZecotekAutotronics Systems to focus on developing components for autonomous and semi-autonomous vehicles and industrial machinery.
Zecotek Optronics Systems has granted exclusive license rights to:
• ZecotekAutotronics Systems, for its patented 3D display technology, solid-state MAPD/T photo detector and transistor, and the recently announced wireless ASIC microchip, to be used in a 3D head-up display and in-automobile entertainment multi-view flat screen display, LIDAR photo-sensing, and for communication, data processing and navigation control, respectively;
• Zecotek Imaging System (Singapore) for the solid-state MAPD/T photo detector and transistor, and wireless ASIC microchip, for applications in positron emission tomography (PET) medical imaging and high energy physic imaging;
• Zecotek Imaging Systems (Singapore) for all intellectual property covering projects in joint development with the University of Washington including the NeuroPET/MRI.
In return for the exclusive rights to intellectual property, Zecotek Optronics Systems will generate revenue through the collection of licensing fees from Zecotek Imaging Systems (Singapore) and ZecotekAutotronics Systems.
Zecotek Imaging China, a subsidiary of Zecotek Imaging Systems (Singapore), is commercializing patented LFS scintillation crystals through its new crystal production facility in Shanghai, China. Zecotek Imaging China is poised to become a leader in large-scale production, cutting and polishing of scintillation crystals grown by the Czochralski method in China. Using a proprietary manufacturing process, very large-diameter boules with uniform properties and without cracks are produced resulting in high element output with lower unit costs.
Zecotek’s patented (US patent No. 7,132,060) LFS scintillation crystals are known for their superiority in performance. Zecotek’s LFS crystals are known for their high light yields and ultra-fast decay times which allow for faster and higher-resolution operation of medical and industrial imaging devices including PET medical scanners. The Company’s line of LFS crystals also cover a wide range of emission wavelengths which can be tailored to match the spectral sensitivity of various photo detectors including the Company’s own solid-state MAPD photo detector arrays.
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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