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.