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Zecotek Photonics Inc

Exchange: TSXV Exchange | May 22, 2018, 6:06 AM EDT

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Zecotek Prepares to Open LFS Crystal Production Facility in China June 2018

VANCOUVER, B.C., May 08, 2018 (GLOBE NEWSWIRE) -- 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 new subsidiary, Zecotek Imaging China Ltd., is moving to open a wholly owned and operated LFS Crystal Production Facility in Shanghai, China in June 2018. Funds from the recent divisional financing of $5 million are being used to prepare the location and acquire the necessary crystal growing ovens and support equipment and personnel. This plant will focus on meeting the significant production and quality demands of Tier 1 customers in China and Europe, and is the result of strong market demand for an integrated production, sales and solutions business model.

“We have worked closely with our customers in China and Europe to determine the best equipment and processes for our new crystal production facility to meet their exacting requirements for high quality LFS crystals and crystal arrays,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. “The decision to establish our own crystal production facility was a result of market conditions and lengthy discussions with our main customers to establish high-quality crystals with consistent performance and stable pricing. We are very pleased with our new facility as it provides us with the ability to directly control the quality and cost of our product. The new production facility also allows our patented LFS scintillation crystals to be price and performance competitive at all times, as we cater to new and established customers.”

Site preparations and renovation are underway at Zecotek’s new production facility, and are expected to be complete by June 30, 2018. The plant will begin with sufficient capacity to service existing Tier 1 clients, with expansion plans to carry on in parallel to meet market demands late 2018. The specialized equipment and ovens necessary for growing LFS crystals have been ordered, and are expected to be installed and operational by the end of May 2018, with ISO certification to be completed soon thereafter.

Hiring for the technical and operation team has been initiated and the main crystal growers contracted. Sources for raw materials have been secured and the first delivery of internally manufactured and mass-produced product is scheduled for July 2018.

Cutting, polishing and array assembly will also be moved to Zecotek's new crystal production facility in China. The Company uses a proprietary automated manufacturing process that uses robotics to assemble the LFS crystal arrays. Not only has the automated process translated into faster manufacturing of arrays, it has also improved the performance of the arrays with repeatable uniformity and much greater accuracy.  

Zecotek's patented LFS scintillation crystals are grown using the Czochralski method with internal modifications. This proprietary growing method produces very large-diameter boules with uniform properties and without cracking (a problem with many competing scintillation materials). This highly efficient method produces a great number of high quality elements from each boule.

About Zecotek
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 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.

For Additional Information Please Contact:
Zecotek Photonics Inc.
Michael Minder
T: (604) 783-8291
ir@zecotek.com

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

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