SINGAPORE--(Marketwired - May 18, 2017) - Zecotek Photonics Inc. (TSX VENTURE: ZMS)(FRANKFURT: W1I)(OTC PINK: ZMSPF), a developer of leading-edge photonics technologies for industrial, healthcare and scientific markets, is pleased to announce that due to the superior performance of its patented LFS scintillation crystal the major OEM developing radiation monitoring and detection devices is moving forward with Zecotek to jointly develop a large area, commercially ready radiation detection unit.
"We have worked closely with the scientific team of the radiation detection OEM over the past 12 months identifying the device with the best performance and the most market demand," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "We have committed to a commercially viable radiation detection device with extensive appeal to many detection applications. We look to have an operational prototype completed within the next 6 months, and look forward to the rollout of the new device with our OEM partner."
As previously announced in April and June of last year, the major detection OEM ordered Zecotek's patented LFS scintillation crystals for two applications. The first was a device for large cargo screening at land crossings such as border crossings, airports, and harbours. The second order of LFS crystals were tested for screening applications for luggage, bags, packages, for high security locations including government buildings, sports stadiums, conventions centers and other crowded venues.
Due to the performance and the successful testing of the LFS crystals, the two companies have committed to jointly develop a commercial unit.
Increasing international tensions on homeland security, have contributed to the significant growth in the radiation safety market. Governments and private businesses need a radiation detection solution that is reliable and easy to implement. A scintillation detection system consists of scintillation crystals, photo detectors, electric signal and processing electronics. The units are smaller and more efficient than competing systems. LFS crystal based systems can be made to cover large areas and can be used in multiple application including radiation detection, assay of radioactive materials and physics research. They are less expensive to implement, have very reliable quantum efficiency and can measure both the intensity and the energy of incident radiation.
Zecotek's patented Lutetium Fine Silicate (LFS) scintillation crystals have been specifically produced to provide quick and effective radiation detection of a large area. With a higher spectroscopic resolution and a decay constant that is 10 times faster and more accurate, LFS crystals are far superior than most competing crystals. The new scanning device will have the capacity for significant throughput with superior imaging performance and high resolution images.
The homeland security and radiation detection represents a sizeable market opportunity for Zecotek. Industry experts predict that the market for instruments specifically designed to measure radiation is estimated to grow to US$3.5 billion by 2022.
Zecotek Photonics Inc (TSX VENTURE: ZMS) (FRANKFURT: W1I) is a photonics technology company developing high-performance scintillation crystals, photo detectors, positron emission tomography scanning technologies, 3D auto-stereoscopic displays, 3D metal printing, and lasers for applications in medical, high-tech and industrial sectors. Founded in 2004, Zecotek operates three divisions: Imaging Systems, Optronics 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 with Hamamatsu Photonics (Japan), the European Organization for Nuclear Research (Switzerland), Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems (South Korea), the University of Washington (United States), and National NanoFab Center (South Korea). For more information visit 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 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
For Additional Information Please Contact:
Zecotek Photonics Inc.
T: (604) 783-8291