Vancouver, Canada – May 25, 2016 – NexOptic Technology Corp. (“NexOptic”) (TSX VENTURE: NXO) and Spectrum Optix Inc. of Calgary, Canada (“Spectrum” and together with NexOptic, the “Companies”) are pleased to report that, further to their joint news release dated March 17, 2016, the Companies have successfully completed the second phase of their four phase proof of concept prototype (“POC”) development program. The design of the POC was chosen to demonstrate the benefits of Spectrum’s patent pending Blade Optics™ imaging technology, which contains flat lenses. The POC, which is anticipated to have an approximate 5-inch equivalent objective lens and a rectangular aperture, will be a first of its kind telescope. The POC will have a lens stack depth to aperture ratio near 1:1. With the second phase of the POC development now completed, the Companies have finished a majority of the design and engineering work required to complete the prototype.
The form factor dimensions of the POC lens stack design (excluding casing and accessories) utilizing Blade Optics™ technology will contain a rectangular aperture and will be approximately:
- Objective Lens: 5-inch equivalent (127mm)
- Depth: 5.02 inches (127.508mm)
- Width: 7.49 inches (190.246mm)
- Height: 9.13 inches (231.902mm)
The second phase of the POC development program included, among other things, completion of optical engineering and fabrication-ready optical component drawings and the receipt of quotes for the procurement of optical elements. The optical tolerance analysis from this phase set forth parameters for optical elements and the fabrication of the system in order to ensure that it performs as predicted. The final optical drawings consist of all optical elements required to manufacture the POC. These have been delivered to established North American optical manufacturers. The Companies are currently reviewing bids from such manufacturers for the procurement of the optical elements required to assemble the POC.
The rigorous optical engineering completed during the second phase of the POC development program included detailed specification, sensitivity and tolerance analysis of all optical elements through simulations. These simulations confirmed that the Spectrum POC lens stack design met the Companies’ criteria for clarity and quality utilizing commercially available optical materials. Because the optics for Spectrum’s POC prototype lens stack can be manufactured using standard commercial practices, the Companies may demonstrate global sourcing options to potential future commercial partners — a differentiator from many photonic technologies that use nanotechnology, for example.
With the assistance of Ruda-Cardinal Inc. (“Ruda”), a global leader in optical prototype construction and design, the Companies were able to increase the back focal distance on the POC design. This could allow for industry standard CMount and/or CS-Mount cameras and devices. Utilizing these mounts could enable a vast line of product accessories, thereby expanding the value proposition for potential customers in the future.
Commenced Final Phases
The Companies have commenced the third phase of the POC development program, which will include the completion of the Computer-Aided Design (CAD) model for the final mechanical design of the POC and mechanical part and assembly drawings. Upon completion of these designs, a stray light analysis for the system will be conducted and quotations will be requested for the requisite parts for the POC. The fourth and final phase of the POC development program will include assembly and performance verification of the device.
John Daugela, CEO of Spectrum Optix and Director of NexOptic, commented:
“With the completion of the majority of the design and engineering work now behind us; I’m proud to say that the final phases of our prototype build have subsequently commenced.”
“I expect that our forthcoming POC will demonstrate to leading firms in the imaging industry clear cases for the applicability, marketability and competitive advantages of Spectrum’s Blade Optics™ patent pending lens technology. Management and personnel of both Companies are very excited as we move closer to completion of the POC, which I believe will mark a major inflection point for the Companies.”
As previously disclosed, the POC will be a first of its kind imaging telescope with a narrow field of view intended to demonstrate the benefits and use cases of Spectrum’s patent pending Blade Optics™ imaging technology. Initial markets most aligned with the POC include the consumer telescope, scope and binocular markets. The Companies intend to pursue development for additional potential verticals upon completion of the POC, including mobile device applications and others. The POC’s development and assembly is being assisted by Ruda-Cardinal Inc.
About Spectrum Optix Inc.
Spectrum is developing technologies relating to imagery and light concentration applications. Utilizing its patent pending Blade Optics™ technology, which contains flat lenses, the company aims to disrupt conventional lens and image capture based systems.
Benefits of the Patent Pending Blade Optics™ Technology
Blade Optics™ could breakdown many of the limitations associated with conventional, curved lens stacks:
- Aperture size: Blade Optics™ has the potential to help significantly reduce the lens stack depth to aperture ratio for several imaging verticals. This could allow for greatly increased aperture sizes without increasing the depth of the lens stack in many applications.
- Image quality: Fewer limitations on aperture size means that image quality could be much improved.
- Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging devices.
Spectrum is currently developing a proof of concept telescope prototype that will utilize its patent pending Blade Optics™ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Spectrum’s Blade Optics™ technology and its potential to serve as a platform to be used in various optical applications.
About NexOptic Technology Corp.
NexOptic has an option to acquire, in the aggregate, 100% of Spectrum Optix. The Companies are, in essence, working as a single corporation with their respective CEOs sitting on each other’s boards of directors. Please see NexOptic’s news release dated November 18, 2014 for additional details regarding this relationship.
On behalf of the Boards of Directors
NexOptic Technology Corp.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
Tel: +1 (604) 669 – 7330
Forward Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its technology, the development of the Prototype and the potential applications of Spectrum’s technologies. The reader is cautioned that forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Forward looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Companies operate and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others, that: the ability of the Companies to complete the prototype as currently expected; the risk that the prototype may not achieve results expected by the Companies; they may not have access to financing on acceptable terms or at all in order to exercise the options under NexOptic’s formal agreement with Spectrum and its shareholders; it may not receive all necessary regulatory and shareholder approvals; or the conditions to NexOptic’s options to acquire Spectrum shares may not be otherwise satisfied; and other risks inherent with the patent process, transactions of this type and development of new technologies or the business of Spectrum and/or NexOptic. Such forward looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, NexOptic is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.