Quantcast

Russia`s Largest Computer Company Aquarius Signs Letter of Intent to Acquire Equity Position in Zecotek Display Systems

July 10, 2014

SINGAPORE, July 10, 2014 /PRNewswire/ – Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I.F), a developer of leading-edge photonics technologies for medical,
industrial and scientific markets, today announced it has signed a
letter of intent with Aquarius, a member of Russia`s National Computer
Corporation, to acquire 20 percent of its wholly owned subsidiary,
Zecotek Display Systems Pte Ltd., for US$7 million. The investment in
Zecotek Display Systems will be used to complete the commercialization
of two patented 3D displays for flat screen and large screen formats,
and a novel high-speed 3D printer for rapid manufacturing and rapid
prototyping.

“The development of this relationship with Aquarius is a significant
endorsement of our 3D display and printing technologies. It is also a
pleasant story as our Canadian based 3D team of scientists are of
Russian origin,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of
Zecotek Photonics Inc. “By partnering with Aquarius and the National
Computer Corporation of Russia through this strategic investment,
Zecotek will complete the commercialization and integration of the 3D
printer technology, the patented auto-stereoscopic 3D flat screen
monitor, and the auto-stereoscopic 3D large format screen. Aquarius
has recognized the value of our 3D technologies and we look forward to
collaborating further for a speedy move to commercialization of our
patented and patent pending technologies.”

Aquarius is a leading computer company. With over 200 service centers
in 135 cities of the Russian Federation, the Corporation has an
extensive product portfolio which includes: personal computers,
servers, note-books, all-in-one thin clients, data storage systems and
clustering solutions. Aquarius is a provider of end-to-end computer
solutions to the industrial markets of Russia.

“Zecotek’s unique 3D technologies provide for value added solutions and
find clear synergy with our products,” said Mr. Vladimir Shibanov,
Executive Vice-President of the Aquarius Group and CEO of the
Production Company Aquarius. “The possibilities are real and varied. A
high speed, auto-stereoscopic multiple view and glasses free desktop
monitor would open many applications and so would the interfaced 3D
printing peripherals. We look forward to executing the LOI and
providing Zecotek 3D Company, with the necessary support to complete
their work and take their products to market.”

Zecotek Display Systems is a wholly owned subsidiary of Zecotek
Photonics. It owns a valuable portfolio of patented and patent pending
3D technologies. The main technologies include:

        --  Flat screen, front projection 3D auto-stereoscopic display,
        --  Large format, rear projection 3D auto-stereoscopic display,
        --  3D printer technology,
        --  New material alloys and semiconducting for 3D printing,
        --  Accompanying interfaces for all 3D technologies.

The 3D patent portfolio includes allowances from the United States,
China, Europe, Eurasia, Russia and Australia. Other patents have been
filed and are pending in Japan, Korea and India. Zecotek Display`s
glasses free patented 3D Display System is based on the
auto-stereoscopic principle, but with substantial innovative and
patented improvements and represents a new and unique generation of 3D
displays. It has the capability of simultaneously presenting 3D and 2D
images on the same screen, and for separate views at different viewing
angles. Zecotek Display`s 3D printer technologies includes a 3D
printer and a 3D printing interface platform between existing and
future generations of 3D printers and its own patented 3D display
technology. The 3D printer and printing platform offers design, cost,
and time advantages when used with Zecotek Display’s glasses free,
auto-stereoscopic, multi-view, HD 3D display.

About Aquarius

Production company Aquarius is the Russian manufacturer of computer
equipment and complex solutions for corporate and government segments.
Aquarius has been successfully working on the IT market for over 25
years, producing modern desktops, notebooks, servers and specialized
hardware and software solutions for informational security. The main
priority of Aquarius is creation of complex solutions for the key
economic sectors of industry, transport, communications, banking and
financial, research, health, social protections, education and
culture. It has a modern stacker conveyor-manufacturing in Shuya
(Ivanovo Region) and R&D Department in Moscow. Aquarius is part of the
largest IT-structure in Russia: the National Computer Corporation.

About Zecotek

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, Laser 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 such as Hamamatsu Photonics
(Japan), the European Organization for Nuclear Research (Switzerland),
Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical
Systems (South Korea), and National NanoFab Center (South Korea). For
more information visit www.zecotek.com, 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.

The TSX Venture 50® are the top 10 companies listed on the TSX Venture
Exchange, in each of five major industry sectors – mining, oil & gas,
technology & life sciences, diversified industries and clean technology
– based on a ranking formula with equal weighting given to return on
investment, market cap growth, trading volume and analyst coverage. All
data was as of December 31, 2013.

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.


Source: PR Newswire



comments powered by Disqus