FOX-TEK Announces Smart Material Tests at NASA Successful.TORONTO -- Fiber Optic Systems Technology, Inc. (the "Company" or "FOX-TEK")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:FOX), a developer of patented fiber optic sensing products, today announced that Phase 2 of its development program of a "Foreign Object Impact Detection System for Spacecraft" was successful. This phase involved impact tests on 'smart materials' that were completed in early April at a NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. facility in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . The 'smart material' designed by FOX-TEK consists of an optical grid of fibers woven into a base fabric of Kevlar(R) fibers. This hybrid material is designed to provide a new technology (patent pending) to sense penetration of a spacecraft, such as the hull of a module on the International Space Station, by micrometeoroids and orbital orbital Mathematical expression, called a wave function, that describes properties characteristic of no more than two electrons near an atomic nucleus or molecule. An orbital can be considered a three-dimensional region in which there is a 95% probability of finding an debris. Impact tests were conducted with a layer of FOX-TEK's smart material and the fiber optic sensor grids were able to determine the location and size of the penetration holes in the plate. In a real-life situation, this information would allow astronauts to effect a timely repair. FOX-TEK is now preparing a follow-on proposal to NASA to manufacture a MOD demonstration detection system that will provide impact data in real-time based on its optical sensing optical sensing, in general, any method by which information that occurs as variations in the intensity, or some other property, of light is translated into an electric signal. This is usually accomplished by the use of various photoelectric devices. grids and FOX-TEK software. This technology will have applications to the Oil and Gas Industry, which is FOX-TEK'S primary market. Dr. Rod Tennyson, Scientific Advisor to FOX-TEK, supervised this test program in collaboration with Dr. Eric Christiansen of the NASA Johnson Space Center, with co-funding from CRESTech, an Ontario Centre of Excellence. About Fiber Optic Systems Technology Established in 2000, FOX-TEK has developed patented fiber optic sensing products that deliver a cost-effective solution for companies to continually monitor their critical infrastructure and detect and prevent high-consequence or catastrophic occurrences. The company's primary market is the global oil and gas industry, for the monitoring of pipelines and refineries. In addition to its monitoring systems, FOX-TEK delivers a full range of professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. to its customers, including engineering design services, training, supervision of on-site installation and turnkey fiber optic sensing systems. FOX-TEK is headquartered in Toronto, Ontario and is traded on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol "FOX". This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. based on assumptions, uncertainties, and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements are detailed from time to time in FOX-TEK's periodic reports filed with the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. and other regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities . FOX-TEK has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Canadian office: US Office: Fiber Optic Systems Technology, Inc. Fiber Optic Systems Technology 4580 Dufferin Street, Suite 402 850 Penns Way Toronto, Ontario West Chester, Pennsylvania M3H 5Y2 19382 Fiber Optic Systems Technology, Inc. (TSX VENTURE:FOX) |
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