The investment by Aquarius, a part of Russia`s National Computer Corporation values Zecotek’s 3D division at (US) $35-million. Most investors who know Vancouver’s Zecotek Photonics (TSXV:ZMS) do so because of its pending infringement case against giants Philips and Saint-Gobain, which alleges that Saint-Gobain’s LYSO crystals infringe Zecotek’s patent, and that Philips infringes by using those crystals in the PET scanners it sells.
But a lesser known part of the company -its 3D imaging interests- is in the news today because of a sizable investment.
Zecotek today announced that it has signed a letter of intent with Aquarius, a part of Russia`s National Computer Corporation, that will see that company acquire 20% of 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 high-speed 3D printer for rapid manufacturing and rapid prototyping.
Zecotek CEO Dr. A.F. Zerrouk talked about the deal.
“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, he said. “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.
The quarter-century old Aquarius has service centres in 135 Russian cities. Executive VP Vladimir Shibanov pondered the various applications that this pickup could enable.
“Zecotek’s unique 3D technologies provide for value added solutions and find clear synergy with our products,” he said. “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.”
At press time, shares of Zecotek Photonics were up 1.5% to $.70.