Sunovia Energy Receives Permit from U.S. State Department to Export Infrared Products, Accelerates International Sales
SARASOTA, Fl., Nov. 3 /PRNewswire-FirstCall/ — Sunovia Energy Technologies, Inc. (OTC Bulletin Board: SUNV) has been granted an export license from the U.S. Department of State to sell mercury cadmium telluride (HgCdTe) undoped infrared wafers for night-vision camera applications to a South Korean customer. This license permits Sunovia to substantially increase its international sales of infrared-related products.
Sunovia filed for the export license following the receipt of a $33 million, 10-year volume purchase agreement from the South Korean customer, which Sunovia announced in April of this year. The newly granted export license will allow Sunovia to immediately begin fulfilling a pending order from its customer in South Korea.
The international market for infrared technology and products continues to grow substantially. MaxTech’s Infrared Imaging News, an industry publication, estimates that the 2008 total available market for the infrared industry (night-vision cameras and thermographic equipment) was $5.9 billion with applications beyond military, including security and surveillance (including Homeland Security), automotive, building and maintenance and process control, among others.
The HgCdTe wafers are manufactured by Bolingbrook, IL-based EPIR Technologies, Inc., a world leader in the development and manufacture of infrared products. Sunovia is the exclusive international distributor for all EPIR infrared products. EPIR uses molecular beam epitaxy to produce state-of-the-art single- and multi-element infrared detectors packaged as detector/cooler assemblies, as well as HgCdTe wafers for infrared camera focal plane arrays.
For more information, visit www.sunoviaenergy.com.
About Sunovia Energy Technologies, Inc.
Sunovia Energy Technologies is a Sarasota, FL-based company that commercializes and markets products within the LED lighting and solar markets that reduce carbon emissions promote national security and preserve the environment. Sunovia owns the exclusive marketing rights to products produced by EPIR Technologies, Inc., including infrared sensors and devices for the civilian and military night vision markets.
Sunovia’s LED lighting technologies are among the most cost and energy-efficient in the world, and are marketed under the brand name EvoLucia(TM) (www.evolucialighting.com).
Sunovia owns a significant equity interest in Illinois-based EPIR Technologies, Inc., the pioneer of single crystal II-VI solar modules and a global leader in the field of IR sensors and IR imaging. EPIR’s collective infrared knowledge and experience is believed to exceed that of any company in the world. Its founder, Chairman and CEO Dr. Sivalingam Sivananthan, is a recognized world leader in HgCdTe growth.
EPIR holds the patent for growing CdTe directly on a Si readout integrated circuit, for which the company developed a manufacturing capability with Congressional support. Sunovia and EPIR co-own the solar technologies and solar products that are developed under the Exclusive Partnership Agreement. The Partners have a network of close collaborative relationships, including the Army Research Laboratory, the National Renewable Energy Laboratory, the Night Vision Electronic Sensors Directorate, BAE Systems, and other laboratories around the world.
More information about the exclusive partnership between Sunovia and EPIR is available in Sunovia’s Securities and Exchange filings at www.sec.gov, or at the partners’ Web sites, www.sunoviaenergy.com and www.epir.com.
The Sunovia(TM) logo is a registered service mark of Sunovia Energy Technologies, Inc. in the United States and/or other countries. Sunovia Energy products and services and EvoLucia(TM) products and services are provided by Sunovia Energy Technologies, Inc.
Some of the statements made by Sunovia in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Sunovia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Sunovia’s filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.
SOURCE Sunovia Energy Technologies, Inc.