Zecotek Completes Installation of First Vanadate Crystal Growing Oven; Initial Orders Currently in Production
Vancouver, October 9, 2007 - Zecotek Medical Systems Inc. (TSX-V: ZMS; Frankfurt: W1I) today announced it has installed the first in a planned series of four vanadate crystal growing ovens at its Singapore production facilities. The ovens will be dedicated to the production of Zecotek’s proprietary high-performance Rare-Earth Fine Oxide (RFO) vanadate crystals. Initial purchase orders from major laser OEMs are presently being processed, with deliveries scheduled for mid-November.
“We are delighted that we are very much on track in our RFO crystal production plan,” said Dr. A.F. Zerrouk, Chairman, President and CEO of Zecotek. “We anticipate a rapid growth in demand for our laser crystals, in particular through the cost and quality advantages of our proprietary growing techniques and patent position.”
The Zecotek RFO vanadate crystal was developed as a next generation replacement for YAG (Yttrium Aluminum Garnet) crystals presently used in approximately 60% of all laser applications, from medical lasers to high power industrial laser systems. The laser crystal market is currently projected to grow to US$106 million by 2012, by which time Zecotek anticipates that YAG will be largely replaced by vanadates. YAG based lasers are also used in materials processing, marking, micro-machining, via drilling of printed circuit boards, medical surgery, aesthetic-hair removal, surgical urology/prostate treatment, skin resurfacing, range finding, laser radar applications, scientific research as well as entertainment products.
The Singapore facility has also been designed and equipped to provide the cutting, polishing and coating of final product. Zecotek’s proprietary RFO crystal growth technology will enable significant cost savings while providing for higher performance lasers, potentially increasing the size of the laser markets.
Zecotek also announces the granting of 100,000 stock options to a consultant for their contribution to the Company. The exercise price is set at $1.30 and will expire on October 9, 2012. The stock options are subject to regulatory and shareholder approval.
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Zecotek Medical Systems (TSX-V: ZMS; Frankfurt: W1I) is a bio-photonics technology company developing high-performance crystals, photo detectors, medical lasers, optical imaging and 3D display technologies for commercial applications in the medical diagnostics and high-tech industry. Founded in 2003, the company has three distinct operating divisions: medical imaging, medical lasers and 3D display and labs located in Canada, Singapore and Russia. Zecotek commercializes its novel, patented and patent-pending bio-photonic technologies directly and through strategic alliances and joint ventures with multinational OEMs, distributors and other industry leaders. For more information, please visit Zecotek Photonics.
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 Medical Systems, Inc.
CFO; VP Corporate Development
T: (604) 827-5203
Caliber Capital Partners
T: (778) 327-6678
E: [email protected]
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