VANCOUVER, July 24, 2018 /CNW/ - Zecotek Photonics Inc.
("Zecotek" or the "Company") (TSXV: 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 Zecotek Autotronics 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 Zecotek Autotronics
Systems to focus on developing components for autonomous and
semi-autonomous vehicles and industrial machinery.
Zecotek Optronics Systems has granted exclusive license rights
to:
- Zecotek Autotronics 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 Zecotek
Autotronics 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.
About Zecotek
Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I; OTCPK: ZMSPF) is a photonics
technology company developing high-performance scintillation
crystals, solid-state photo detectors, 3D displays and related
technologies for applications in medical, high-tech and industrial
sectors. Founded in 2004, Zecotek has three operating divisions:
Zecotek Imaging Systems, Zecotek Optronics Systems, and Zecotek
Autotronics with labs located in Canada, Korea, Russia, Singapore and U.S.A. It is commercializing over 55 patented
and patent pending novel photonic technologies directly and through
strategic alliances with the Shanghai EBO Optoelectronics
Technology Company (China),
Hamamatsu Photonics (Japan), the
European Organization for Nuclear Research (Switzerland), NuCare Medical Systems
(South Korea), the University of Washington (United States), and National NanoFab Center
(South Korea). For more
information visit http://www.zecotek.com and 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.
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
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the corporate website at
http://www.zecotek.com.
SOURCE Zecotek Photonics Inc.
