NexOptic Technology Corp. ("NexOptic")and Spectrum Optix Inc. of Calgary, Canada ("Spectrum" and together with NexOptic, the "Companies") are pleased to report that Spectrum will receive a financial contribution of up to $49,725 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).
NRC-IRAP’s contribution is non-dilutive to either NexOptic or Spectrum and proceeds will be applied by Spectrum to two project activities. Part 1 will be a Market Assessment and Strategy Report conducted by a third party firm. This is intended to include identifying the top attributes of an ideal use case for Spectrum’s patent pending Blade Optics™ lens technology, sectors and customers that would be a match for the identified attributes, evaluation and ranking of use cases/sectors/customers based on criteria such as: Market Size, Value of Product to Sector, Sector Competitiveness, Ease of Reaching the Sector, Cost of Building Product for Sector, Sustainability of Sector and more. This report is intended to help develop a suitable commercial marketing strategy to gain traction in the top identified sector.
Part 2 is intended to be used for the continual development of Spectrum’s proof of concept (POC) prototype: a first of its kind telescope that utilizes the company’s patent pending Blade Optics™ lens technology.
We are very appreciative of the financial and other support being provided to us by NRC-IRAP for the advancement of our patent pending Blade Optics™ technology.”
There are numerous potential commercial applications for our technology in the imaging space. The Government of Canada’s contribution will help in the development of our prototype and narrow down our first commercial objectives.
John Daugela - President of Spectrum Optix and Director of NexOptic
The Companies look forward to providing subsequent updates to these and other initiatives in future joint news releases.