LONGMONT, Colo., Oct. 30, 2014 /PRNewswire/ -- Lightwave Logic,
Inc. (OTCQB: LWLG), a technology company focused on the development
of next-generation photonic devices and non-linear optical polymer
materials for applications in high speed fiber-optic data
communications and optical computing, today announced that it will
subject its pilot run of bleached waveguide modulators to
performance testing. The Company has estimated the market for
its bleached waveguide modulators at $300
million in the telecom long haul and extended metro market
alone, which includes several multinational companies Lightwave
Logic is targeting as future customers or joint development
partners.
Lightwave Logic submitted an order with Reynard Corporation in
San Clemente, California to
produce gold-layered fused silica substrates for its bleached
waveguide modulators that will be coated with several of the
Company's organic electro-optical polymers. The substrates
will be delivered in early November and performance tested
throughout December. The Company anticipates testing will validate
the previous modulator results from August
2014, and the viability of its device design and materials
systems at nominal speeds in this type of modulator
design.
Lightwave Logic also announced it has procured and received
chips produced by IMEC International of various types of
passive, silicon photonic modulators and waveguides to
baseline their performance. Similar silicon photonic chips capable
of being coated with the Company's advanced organic
electro-optically active polymers will then be tested when
it receives them from OpSIS, which is scheduled for a late November
delivery. This process will be used to compare and contrast
side-by-side performance of similar device structures to show
anticipated performance improvements obtained by coating passive
photonic devices with Lightwave's active materials. Results
are expected to demonstrate improved data transfer speeds over
current technologies.
Tom Zelibor, Chairman and Chief
Executive Officer of Lightwave Logic stated, "The device
development program that we presented to shareholders at our annual
meeting is now in full bloom and focuses on the development of
commercially viable bleached waveguide modulators as an initial
step to commercialization. We conservatively estimate this to
be $300 million for high-demand
applications in the telecom market. This initial technological step
for Lightwave Logic represents a respectable revenue opportunity as
we move toward our next product goal, an organic polymer slot
waveguide. The ultimate objective of our development path is
a fully integrated nanophotonic transceiver. Each step along the
way is technologically risk-mitigating and presents incremental,
increasing revenue opportunities."
Powered by Lightwave Logic
Lightwave Logic, Inc. is a development stage company that
produces prototype electro-optic demonstration devices and is
moving toward commercialization of its high-activity,
high-stability organic polymers for applications in electro-optical
device markets. Electro-optical devices convert data from electric
signals into optical signals for use in high-speed fiber-optic
telecommunications systems and optical computers. For more
information, about the Company please visit the corporate website
at: www.lightwavelogic.com.
Safe Harbor Statement
The information posted in this release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify these
statements by use of the words "may," "will," "should," "plans,"
"explores," "expects," "anticipates," "continue," "estimate,"
"project," "intend," and similar expressions. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected or anticipated.
These risks and uncertainties include, but are not limited to, lack
of available funding; general economic and business conditions;
competition from third parties; intellectual property rights of
third parties; regulatory constraints; changes in technology and
methods of marketing; delays in completing various engineering and
manufacturing programs; changes in customer order patterns; changes
in product mix; success in technological advances and delivering
technological innovations; shortages in components; production
delays due to performance quality issues with outsourced
components; those events and factors described by us in Item 1.A
"Risk Factors" in our most recent Form 10-K; other risks to which
our Company is subject; other factors beyond the Company's
control.
For Further Information Contact:
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Steven Cordovano
Lightwave Logic
203-952-6373
steve@lightwavelogic.com
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SOURCE Lightwave Logic, Inc.