Development of 3DIcon's 3D Volumetric Display Technology, CSpace®, to Be Accelerated by Its Merger With Coretec Industries
Silicon-Based Materials Expertise and Intellectual Property Accessible Through Recent Merger With Coretec to Be Used in Developing CSpace® Image Chamber
TULSA, OK -- (Marketwired) -- 06/08/16 -- 3DIcon Corporation (OTC PINK: TDCP), a developer of 3D volumetric display technologies that are designed to produce 360-degree volumetric high-resolution images, announced today its plan to expand development of its proprietary CSpace® technology utilizing the technical expertise and intellectual property for Silicon-based materials to be acquired through its recently announced merger with Coretec Industries, LLC ("Coretec").
As previously reported, a key challenge in the development of CSpace® has been the development of the material to be used for the image chamber. 3DIcon has been exploring a variety of glass alternatives under a Joint Development Agreement with Schott Defense, a global leader in specialty glass materials. While progress continued to be made, it was concluded that limitations remained, primarily in weight and cost.
Douglas Freitag, 3DIcon's Vice President of Technology and Business Development, had identified optical quality silicon-based polymers as a leading candidate for an alternative image-space material for CSpace®. Silicon-based materials provide the desired optical properties, can be blended with additives required for imaging, are much lighter in weight than the glasses previously considered, and can be formed into large shapes.
Freitag's insight related to the possibility of Silicon-based material serving as a solution for CSpace® arose in part out of his prior consulting work with Dow Corning in silicon-based materials, his awareness of Dow Corning's sponsored research with Dr. Phillip Boudjouk of North Dakota State University in silicon-based materials, and the recent formation of Coretec to commercialize innovations resulting from this research. As he had learned, Coretec and its research team located at NDSU had the expertise in silicon-based materials that would be required to perform the R&D necessary to move toward to the commercialization of CSpace®.
"The benefit of having access to this portfolio of Silicon-based materials is that we can now use all of the manufacturing infrastructure and knowledge that's available for plastics for the CSpace® image chamber," said Doug Freitag. "The benefit to CSpace® is that we can now mold the material into a broad range of shapes that is much lighter and much lower in cost than what we worked with before."
Looking to Coretec as a possible partner to advance CSpace® was consistent with one of the Company goals set out by 3DIcon CEO Victor Keen in his December letter to shareholders, the other being a desire to broaden the scope of 3DIcon beyond CSpace®.
As explained in a 3DIcon shareholders conference call on June 1, further discussions and investigation disclosed that, beyond the synergy relating to a possible solution to the CSpace® image chamber material challenge, Coretec's relationship with NDSU, its significant patent portfolio and technical expertise made a Coretec a highly desirable merger candidate for 3DIcon. These discussions ultimately resulted in a merger agreement being executed by the two companies on June 1. The merger will not only facilitate the development of CSpace® but also will provide a portfolio of IP in silicon materials with near term application to energy storage, printable electronics, solar energy, and others major markets.
About 3DIcon Corporation
3DIcon Corporation (the "Company", "3DIcon", "we", "us" or "our") is a developer of 3D display technologies. The Company's patented volumetric 3D display technology, CSpace®, is being developed to produce 360-degree viewable, high-resolution, color images, and is intended for use in government and industrial applications such as air traffic control, medical imaging, automotive & aerospace design, geological visualization, weather visualization, battle space visualization, and cargo/baggage/people scan visualization. For more information please visit www.3dicon.net.
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Source: 3DIcon Corporation
Released June 8, 2016