Lightwave Logic Inc (LWLG)

[ProfitScout]

Lightwave Logic Prepares Pilot Run of Bleached Waveguide Modulators for Performance Testing

Accelerates Development of Commercially Viable Bleached Waveguide Modulators to Address $300MM/Yr Market Opportunity

LONGMONT, Colo., Oct. 30, 2014 /PRNewswire via COMTEX/ -- Lightwave Logic, Inc. (OTCQB: LWLG), a technology company focused on the development of next-generation photonic devices and non-linear optical polymer materials for applications in high speed fiber-optic data communications and optical computing, today announced that it will subject its pilot run of bleached waveguide modulators to performance testing. The Company has estimated the market for its bleached waveguide modulators at $300 million in the telecom long haul and extended metro market alone, which includes several multinational companies Lightwave Logic is targeting as future customers or joint development partners.

Lightwave Logic submitted an order with Reynard Corporation in San Clemente, California to produce gold-layered fused silica substrates for its bleached waveguide modulators that will be coated with several of the Company's organic electro-optical polymers. The substrates will be delivered in early November and performance tested throughout December. The Company anticipates testing will validate the previous modulator results from August 2014, and the viability of its device design and materials systems at nominal speeds in this type of modulator design.

Lightwave Logic also announced it has procured and received chips produced by IMEC International of various types of passive, silicon photonic modulators and waveguides to baseline their performance. Similar silicon photonic chips capable of being coated with the Company's advanced organic electro-optically active polymers will then be tested when it receives them from OpSIS, which is scheduled for a late November delivery. This process will be used to compare and contrast side-by-side performance of similar device structures to show anticipated performance improvements obtained by coating passive photonic devices with Lightwave's active materials. Results are expected to demonstrate improved data transfer speeds over current technologies.

Tom Zelibor, Chairman and Chief Executive Officer of Lightwave Logic stated, "The device development program that we presented to shareholders at our annual meeting is now in full bloom and focuses on the development of commercially viable bleached waveguide modulators as an initial step to commercialization. We conservatively estimate this to be $300 million for high-demand applications in the telecom market. This initial technological step for Lightwave Logic represents a respectable revenue opportunity as we move toward our next product goal, an organic polymer slot waveguide. The ultimate objective of our development path is a fully integrated nanophotonic transceiver. Each step along the way is technologically risk-mitigating and presents incremental, increasing revenue opportunities."

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Lightwave Logic, Inc. is a development stage company that produces prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. For more information, about the Company please visit the corporate website at: http://www.lightwavelogic.com.

Safe Harbor Statement

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.

For Further Information Contact:
Steven Cordovano
Lightwave Logic
203-952-6373
[e-mail]


SOURCE Lightwave Logic, Inc.
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