INVENTION MACHINE CORP. AND LIGHTPATH TECHNOLOGIES, INC. FORM LIGHTCHIP, INC. TO DEVELOP AND MARKET HIGH-PERFORMANCE, LOW-COST WAVELENGTH DIVISION MULTIPLEXING (WDM) TECHNOLOGY.ALBUQUERQUE, New Mexico--(BUSINESS WIRE)--July 8, 1997-- Invention Machine Contributes Engineering Methodology and LightPath Contributes GRADIUMT Lens Technology For "Universal" WDM (1) (Wavelength Division Multiplexing) A technology that uses multiple lasers and transmits several wavelengths of light (lambdas) simultaneously over a single optical fiber. To Cost-Effectively Multiply the Data-Carrying Capacity of Fiber-Optic Networks Invention Machine Corporation of Boston and LightPath Technologies, Inc. (Nasdaq: LPTHA/LPTHU) of Albuquerque announced today that they have formed a joint venture company, LightChip, Inc., to develop, manufacture and market the next generation of wavelength division multiplexing See WDM. (communications) wavelength division multiplexing - (WDM) Multiplexing several Optical Carrier n signals on a single optical fibre by using different wavelengths (colours) of laser light to carry different signals. (WDM) systems for use by telecommunications carriers, CATV (Community Antenna TV) The original name for cable TV. It used a single antenna at the highest location in the community in order to deliver a quality signal to homes in areas with hilly terrain or other interference. companies, local area network (LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. ) and wide area network (WAN) systems integrators. WDM devices serve as data "traffic cops Traffic Cops is a documentary series on BBC One which follows traffic officers from various police forces including Hampshire, Cheshire and South Yorkshire. It shows what is involved in the day-to-day role of a traffic officer and the incidents they come across. ," allowing a wide range of data, at varying speeds, to move simultaneously through an optical fiber network. WDM technology is generally considered to be a key to satisfying the "bandwidth" requirements of the Information Age. The overall market for WDM technology was $100 million in 1995; it is projected to reach $12 billion by 2005, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. industry research. LightChip's mandate is to develop a universal design for high- performance, low-cost WDMs that can be customized for either long- or short-distance (e.g. LAN) applications, and enhanced to meet future performance and cost requirements. LightChip will be 51% owned by LightPath Technologies, Inc., 35% by Invention Machine Corporation and 14% reserved to be issued to key employees. LightChip will initially seek to raise $2 million from private investors to produce its initial products. LightPath, which will manage LightChip until it is funded, has first right of refusal to buy Invention Machine's shares in the new company. Privately held Invention Machine - whose engineering problem- solving software and invention strategies are at use at Motorola, Ford, Ingersol Rand Rand See Witwatersrand. rand 1 n. See Table at currency. [Afrikaans, after(Witwaters)rand. , Becton Dickinson BD (NYSE: BDX), is a medical technology company that manufactures and sells medical devices, instrument systems and reagents. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs 27,000 people in nearly 50 countries. , Xerox and 3M as well as other organizations -- will contribute to the LightChip joint venture senior-level expertise and exclusive use in WDM of the Innovative Technology of Design (ITD ITD Idaho Transportation Department ITD Information Technology Division (at NRL) ITD Information Technology Division (MMDS) itd I Tak Dalej (Polish: And So On) ) and TechOptimizerT Professional Edition software suite, Invention Machine's core applications. They will address the conceptual design issues of a fully integrated, universal WDM system. LightPath Technologies - developer and manufacturer of patented GRADIUMT glass, which possesses internal light- navigating and wavelength-separating properties unavailable in any other high-performance optical components - will devote its GRADIUM technology and R&D capabilities to LightChip. GRADIUM glass may enable the LightChip WDM technology to set new standards for versatility, ruggedness and cost- effectiveness. Said Leslie Danziger, chairman of LightPath Technologies, "With the majority stake in LightChip, LightPath and its shareholders will participate in a more significant way in the WDM market, as LightChip will be a value-added systems integrator selling to telecommunications and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. carriers. Without LightChip, LightPath would participate only as a materials component supplier to other systems integrators. LightPath will be the sole supplier of enabling GRADIUM materials to the new company, and the R&D costs associated with optimizing GRADIUM technologies for WDM will be shifted to LightChip." Said Tom Lewis, president of Invention Machine, "We're convinced that the synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. of the unmatched light-bending and wavelength separating capabilities of GRADIUM glass and Invention Machine's proprietary engineering methodology and software will enable LightChip to lead in the development and production of the next generation of low-cost, high- performance, versatile WDMs." Invention Machine Corporation is the leading provider of software tools which enable engineers, scientists and technologists to extend their knowledge base and capabilities to solve technical problems by generating innovative ideas. Invention Machine Corporation's revolutionary software tools provide users with access to the most successful inventive in·ven·tive adj. 1. Of, relating to, or characterized by invention. 2. Adept or skillful at inventing; creative. in·ven principles and engineering effects which stimulate the rapid production of high-quality, well-designed products. Internationally, Invention Machine Corporation has offices in Germany and Sweden. LightPath Technologies, Inc. manufactures GRADIUM materials - cost-effectively, in large and small volumes - at its headquarters facility in Albuquerque and has 13 patents associated with the process to manufacture GRADIUM glass. Current customers for GRADIUM glass include: industrial laser, medical imaging, sports optics, wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. chip inspection, optical storage and scientific research equipment manufacturers. LightPath common stock trades under the NASDAQ stock symbol LPTHA. LightPath units, comprised of common stock and warrants, trade under the NASDAQ stock symbol LPTHU. The company raised approximately $8 million in a February 22, 1996 initial public offering. CONTACT: LightPath Technologies, Inc. Frank Sommerfield Communications, Inc., 212/255-8386 mail@sommerfield.com http://www.light.net or Invention Machine Corporation Scott Todaro, 617/305-9250 http://www.invention_machine.com or Lightpath or Invention Machine 505/342-1100 Phone: 617/305-9250 Fax: 505/342-1111 Fax: 617/305-9255 |
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