SINGAPORE, July 21, 2014 /PRNewswire/ - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I.F), a developer of leading-edge photonics technologies for medical, industrial and scientific markets, today announced that its wholly owned subsidiary Zecotek Display Systems Pte. Ltd. has contracted LT-PYRKAL of Yerevan, Armenia, to assemble and test its first compact, high-speed 3D printer which will use high-performance metal alloys and offer technical and commercial advantages over other 3D printing technology. Zecotek and LT-Pyrkal previously announced a partnership in February 2014. Since that time a number of key technical challenges have been solved and LT-Pyrkal will now proceed with the assembly of the new 3D printer, which will be used for both prototyping and distributed manufacturing with specific applications in electronics, aerospace, automotive, mechanical and healthcare industries.
"With our partner LT-PYRKAL, we are assembling and testing our first 3D printer which will have the ability to use an extended and varied list of alloys to "print" metal components for targeted industries," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "Our technical team of scientists have identified a unique approach to handle high-performance metal alloys with our compact high-speed 3D print technologies. The advantage of our design is the compactness, speed and quick transition from prototyping to 3D manufacturing at all levels of production. Add the ability to handle high-performance metal alloys and the size of the market grows considerably. We are excited about the prospect of being a key leader in an industry that will revolutionize manufacturing."
LT-PYRKAL is a long time contract partner of Zecotek which developed a number of key electro-mechanical elements for Zecotek's patented 3D display technology. The company is known for its experience in automation systems, component design and product development across many industries. It has working relations with both small and large organizations and has completed large projects for local government agencies.
"We look forward to continuing to build on our growing relationship with Zecotek by completing the assembly and testing of their first compact high-speed 3D printer and assist them to move to full production and sales," said Mr. Gagik Buniatyan, General Director of LT-PYRKAL.
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. Zecotek and LT-PYRKAL have identified a unique method of printing with high-performance metal alloys with its proprietary compact, high-speed 3D printing technologies. This will provide companies to evaluate a broader range of product models in less time to improve design throughout the product development process. Rapid prototyping enables faster more efficient production, while rapid manufacturing enables higher productivity, economical customization, improved quality and greater efficiency.
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 3D printing 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, Zecotek and LT-PYRKAL have identified a number of opportunities to improve 3D printing technology. Patents will be filed as required.
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 today employs over 250 highly qualified specialists and occupies over 30,000 square meters of industrial facilities 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 Hamamatsu Photonics (Japan), 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.
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SOURCE Zecotek Photonics Inc.
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