"By combining our vast experience in laser technology and high precision electro-mechanical devices Zecotek and LT-Pyrkal are exploring novel designs for a compact and high speed 3D printer," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "Our technical expertise has allowed our partnership to explore new and more efficient methods of printing 3 dimensional objects with a large spectrum of materials. We are testing components of a compact, high speed 3D printer to be used in rapid prototyping and rapid manufacturing, as well as the associated software interface and look forward to working with LT-Pyrkal to move this project forward."
3D printing is the process of making three dimensional solid objects from a digital model by laying down successive layers of material in different shapes. Companies are using 3D printing to evaluate more product models in less time to improve design throughout the product development process. As the design of a product advances, technical issues are tested at various points to achieve improved performance, lower manufacturing costs, while delivering higher quality and more successful product launches. In rapid prototyping, 3D printing is enables faster more efficient production that supports marketing and sales. Rapid manufacturing enables higher productivity, economical customization, improved quality and greater efficiency in a growing number of industries.
Total annual sales and service of 3D printers has reached $2 billion. Leading industry analysts predict continued significant growth with annual sales of 3D printing reaching $4 billion by 2015, and over $10 billion by 2021. The rapid growth in the market is due to the improving performance of additive equipment and the expanding range of materials being used. Although 3D printing has now become cheaper and more customizable than regular manufacturing methods, there are a number of opportunities for improvement. Zecotek and LT-Pyrkal new 3D printer will be used for both prototyping and distributed manufacturing with applications in many industries including dental, medical, biotech, architecture, industrial design, aerospace, military, civil engineering, and geographic information systems.
LT-PYRKAL is a Greek-Armenian research, development and production company, specializing in crystal growth, laser accessories and components, lasers and systems. LT-PYRKAL was established in 1999 and todays employs over 250 highly qualified specialists and occupies over 30.000 square meters of industrial facilities for for synthetic crystal growth, opto-mechanics and laser electronics manufacturing, and laser and EO Systems development. For more information please visit: http://www.lt-pyrkal.com/en/.
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 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 and "like" us in Facebook at www.facebook.com/zecotek.
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.
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SOURCE Zecotek Photonics Inc.
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<p> For Additional Information Please Contact: </p> <p> Zecotek Photonics Inc.<br/> Michael Minder<br/> T: (604) 783-8291<br/> <a href="mailto: Email Contact <br/> </p>