NexOptic Technology Corp. (“NexOptic”) (OTCQX: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN: E301) is pleased to report it has engaged Synapse Product Development (“Synapse“), a leading consumer product development firm, to assist in developing a modern electronic interface, plus firmware, and specific software architecture for NexOptic’s inaugural consumer product; an innovative imaging device intended for the sport optics and outdoor recreation markets.
Synapse will provide a holistic analysis of the electrical, firmware, and software architecture options that will be used to inform a go-forward development strategy that meets the Company’s business and technical objectives. Synapse will work collaboratively with the Company’s strategic technology designers, NewDealDesign of San Francisco (see company press release dated November 20, 2017 for further details). Upon completion of this engagement, Synapse will have outlined estimated costs of goods as well as power budgets designed to be in alignment with NexOptic’s business interests. The Company will use the results of this phase to assist with its overall, go-forward business strategy specific to its objective of creating and delivering a transformative consumer imaging product. NexOptic will retain 100% ownership of the finished product and its related IP developments.
The primary objective is to develop a strategy that leverages a relationship with to-be-selected development, manufacturing and supplier partners.
Dylan Garrett, Senior Director of Business Development, Synapse Product Development, stated: “At Synapse we’re driven to make a positive impact on the world by developing cutting edge products and user experiences. We are looking forward to working alongside NexOptic as they move to bring a transformative outdoor recreational product to the marketplace.”
Synapse is a product development and consultancy firm that works with some of the world’s most imaginative and innovative brands. It aims to drive innovation and introduce cutting-edge devices that positively impact our lives while transforming brands and accelerating advances in technology. Synapse is owned by Cambridge Consultants of Cambridge, UK which has spent decades growing and developing medical, industrial, consumer, wireless and security products. With offices in Boston, Seattle, San Francisco, Cambridge, Singapore, Tokyo and Hong Kong, Synapse has a global presence, allowing for increased manufacturing support.
About NexOptic Technology Corp.
NexOptic is developing technologies relating to imagery and light concentration applications. Utilizing Blade Optics™, its suite of optical technologies, the Company aims to increase aperture sizes within given depth constraints of various imaging and non-imaging optical applications. Blade Optics™ refers to NexOptic’s lens designs, algorithms and mechanics which vary from patented, patent-pending and includes all of the Company’s intellectual property and know how.
Earlier this year, NexOptic completed its proof-of-concept digital telescope prototype that utilizes a patented Blade Optics™ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Blade Optics™ and its potential to serve as a platform to be used in various optical applications.
Benefits of Blade Optics™ Technology
NexOptic believes that Blade Optics™ has the potential to breakdown many of the limitations associated with conventional lens stacks:
- Aperture size: Blade Optics™ may allow the aperture-to-depth ratio to be increased in depth-limited optical devices to permit increased resolution compared to conventional optical devices with similar depth.
- Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging devices.
NexOptic trades on the OTCQX under the symbol “NXOPF,” on the TSX Venture as “NXO,” on Frankfurt as “E301” and Berlin as “E301.” More information is available at www.nexoptic.com.
On behalf of the Boards of Directors
NexOptic Technology Corp.
John Daugela, CEO & Director
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, new products and designs, the potential applications of the Company’s technologies and its potential markets. 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 Company operates and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the Company’s technology is at an early stage and additional work will be required to confirm potential applications and feasibility of its technologies; the Company may not be able complete the prototypes and designs as currently expected; potential applications of the Company’s technology are based on limited studies and may not be representative of the broader market; the risk that prototypes and designs may not achieve expected results; the Company may not be able to commercialize its technology; the Company may not have access to necessary financing on acceptable terms or at all; and other risks inherent with the patent process, transactions of this type and the business of the Company. Such forward-looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, the Company 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.
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