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Zecotek Photonics Receives Another Grant Payment from Singapore Government

Published on July 21, 2009 at 4:13 AM

Zecotek Photonics Inc. (TSX VENTURE:ZMS)(FRANKFURT:W1I), a developer of leading-edge photonics technologies for medical, industrial and scientific markets, today announced it has received another grant payment under the previously announced Government of Singapore Economic Development Board's (EDB) Research Incentive Scheme for Companies. The payments cover a portion of Zecotek's operational expenses in research and development and under the terms of the agreement, grant details remain confidential.

"In 2006, we moved our operations to Singapore, with the full encouragement and invitation of EDB, in order to leverage on Singapore's R&D efficiencies and support mechanisms," said Dr. A. F. Zerrouk, Chairman, President and CEO of Zecotek. "The EDB team has demonstrated their continuing and enthusiastic support to our efforts, and we are extremely pleased with the outcome of the grant process. We look forward to the continuing support from the EDB team as we complete our PET/MRI program and bring new laser and crystal products through development and into manufacturing."

Zecotek continues to meet key critical milestones required under the EDB's grant scheme to receive re-imbursement of certain operational expenses in research and development salaries, equipment and materials, professional and consulting services, and staff training for Zecotek's Singapore based product development and commercialization programs for the period November 2008 to April 2009. The programs include developing a production prototype of the 3D display, completing the production of the novel RFO vanadate crystals for the laser and communications industries, completing the manufacturing process of the tunable visible Fiber Laser, transferring the process of manufacture of the MAPD solid-state photo detector, developing the commercial prototype of the PET/MRI for organ specific diagnostic imaging and pre-clinical drug research, as well as developing several new types of solid state lasers for medical and multimedia applications.

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