VANCOUVER, British Columbia, July 10, 2018 /PRNewswire/ --
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 that its recently formed subsidiary, Zecotek Imaging China Ltd. is currently working with the Shanghai based EBO Optoelectronics Technology Company (EBO) to prepare for the resumption of LFS scintillation crystal delivery from its new crystal production facility which commenced operation on July 2, 2018. In January 2017, Zecotek and EBO signed an agreement to supply $21 million of patented LFS scintillation crystals over three years for positron emission tomography (PET) medical scanner OEMs. With PET OEMs in China planning to export new PET medical scanning devices to international markets, it is critical that units are of the highest quality and there are no questions regarding intellectual property (IP). For this reason, it is preferable that the company supplying the crystals operates its own production facility and owns the crystal IP. EBO and its customers strongly suggested that LFS scintillation crystal must come from Zecotek's own production facility.
"We are very impressed by Zecotek's new crystal manufacturing facility in Shanghai, which will supply LFS scintillation crystals to a number of our clients developing positron emission tomography scanning devices," said Dr. C. J. Yang, President and CEO of Shanghai EBO Optoelectronics Technology Company. "It is important for us to work directly with Zecotek to source patented LFS scintillation crystals that are reliable, cost competitive and of superior quality. We look forward to working closely with Zecotek and resuming our supply agreement."
"The Shanghai EBO Optoelectronics Company is an important customer and strategic partner in China and we are pleased to be working with them as we complete the final details before opening our crystal production facility in Shanghai," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "Based on requests from customers inside and outside of China and broader demand from industry, we decided to set up our own crystal production facility to secure our intellectual property and ensure consistent performance and stable pricing. By taking control of the manufacturing process of our patented scintillation crystals we can meet our customers' needs and capture any added value."
EBO Optoelectronics is the largest crystal array producer and supplier in China, and is using Zecotek's LFS scintillation crystals exclusively for their PET (positron emission tomography) arrays. It has an impressive international customer list including the top medical imaging OEMs in the world. Zecotek China is working closely with EBO Optoelectronics and its customers both in and out of China.
Zecotek's LFS series of scintillation crystals are protected in China and jurisdictions around globe by a worldwide patent (including US patent No. 7,132,060). The crystals cover a wide range of emission wavelengths which can be tailored to match the spectral sensitivity of various photo detectors including Zecotek's own solid-state MAPD/T photo detector arrays. By using the Czochralski method to manufacture LFS scintillation crystals, Zecotek can grow very large-diameter boules with uniform properties and without cracking (a problem with many competing scintillation materials). Larger, higher quality boules, produce more single elements resulting in greater output with lower unit costs.
Zecotek is focused on becoming a leading supplier of scintillation crystals and other key photonic components in China and around the world.
About Shanghai EBO Optoelectronics Technology Co.
Founded in 2007 and headquartered in Shanghai, EBO has more than 120 employees and 4,000 square meters of manufacturing space. Shanghai EBO fabricates and supplies crystal arrays to an extensive customer base which includes: Neusoft Medical Systems, Samsung Medical, Topgrade Healthcare, FMI Medical Systems, IHEP of CAS, Huazhong University of Science and Technology, and many domestic and foreign universities and research institutions. EBO has the highest standard processing production line and offers shaped crystal customization and crystal array assembly to end users.
Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I; OTCPK: ZMSPF) 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), Shanghai EBO Optoelectronics Technology Co. (China), 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.
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