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Englewood, Colorado, Aug. 30, 2018 (GLOBE NEWSWIRE) -- Lightwave Logic, Inc. (OTCQB: LWLG), provided an update today on its progress on several fronts. It is on track with plans to commercialize its 50Gbps polymer modulator technical platform. On top of those plans, it has made significant progress on integrating technology from its recent acquisition. Lightwave has also completed several wafer lots in its new internal fabrication facility. It plans to expand its high-speed test and design capabilities at its Englewood, Colorado headquarters to support even higher speeds including 100 Gbps.
The previously announced acquisition of electro-optic polymer assets includes a broad range of relevant technical know-how on materials, device design, fabrication, testing, reliability, and quality assurance. The additional technology meshed well with the roadmap and annual goals as laid out in the Annual Shareholder Meeting (ASM) last quarter. Lightwave Logic CEO Dr. Michael Lebby commented, “The process to digest the acquisition is going very smoothly, and we plan to integrate the acquired technology into our P2IC (polymer photonic integrated circuit) platform.”
In line with plans announced at the ASM, the company has now constructed and fully equipped its own on-site fabrication facility. Jim Marcelli, President & COO commented, “I’m pleased to report that a number of wafer lots have now been successfully completed in the new facility using a fully internal device fabrication process. Thanks to the team’s hard work this task was completed ahead of schedule.”
Lightwave Logic also indicated during the ASM that polymer-based modulator platforms have the potential to operate at data rates significantly faster than 50Gbps. At these speeds, the test capabilities required are pushing the state-of-the art. The company is looking to partner with key test instrument manufacturers and also continues to build its internal expertise with the hiring of world-class technical personnel with 100Gbps experience.
Lightwave Logic CEO Dr. Michael Lebby noted, “The team exceeded its development milestones for the past two years. We are on track to supply customer prototypes. At the same time, we are laying the groundwork beyond prototyping in our fabrication facility, expanding our testing capability, deepening our expertise in high speed design. I’m very proud of the progress the team is making.”
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Lightwave Logic, Inc. is a development stage company moving toward commercialization of next generation photonic devices using its high-activity and high-stability organic polymers for applications in data communications and telecommunications markets. Photonic electro-optical devices convert data from electric signals into optical signals. For more information about the Company please visit the corporate website at: www.lightwavelogic.com.
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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.
Steven Cordovano Lightwave Logic 203-952-6373 firstname.lastname@example.org