Date Announced: 18 Oct 2010
Customer Accepts Novel Concept for Advanced Optical Computing Application.
NEWARK, Del., Oct. 18 /PRNewswire/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG) a technology company focused on the development of the Next Generation Electro-Optic Polymer Material Platform for applications in high speed fiber-optic data communications and optical computing announced their subcontract agreement with Celestech, Inc. has completed the concept stage and is moving forward into the design stage.
Under terms of the original agreement, Lightwave Logic provided Celestech with development-engineering support in the early stages of the project on a task based effort to incorporate one of Lightwave's advanced electro-optical polymer materials. This relationship will continue as the project transitions into the optical and system engineering-design phase which will be led by Terry Turpin of Lightwave Logic.
Rusty Topping, Executive Vice President and General Manager of Celestech, commented, "We are very happy to be working with Terry and the Lightwave team on this exciting optical computing project involving a novel concept and design. We are very encouraged by the early results and are anxious to move forward."
James Marcelli, Chief Executive Officer of Lightwave Logic said, "The advancement of our initial revenue generating engineering contract into the design phase is an exciting event for our company. As we are presently in several stages of evaluation with potential partners /customers for various commercial applications, we hope that this initial success will accelerate the widespread acceptance of our groundbreaking next generation electro-optical polymer materials platform."
Source: Lightwave Logic
Web Site: www.lightwavelogic.com