negotiations for the May deal were months in the making, and since the news release about the Lab expansion indicated that it would accommodate the first License Agreement, I believe there was a concession made because fulfillment would not be possible until several months later than the deal
Lebby is the #1 most trusted person in Photonics!!! He CHAIRS at two of the TOP PHOTONICS CONFERENCES in the world, and Lebby has been named as one of the Top 75 inventors list having about 500 or so Patents to his credit including the first VCSEL Patents that ENABLE every Mobile Phone and Computer Mouse in the world today!!!
Lebby already told investors that the ALMOST DOUBLING of lab space and increasing Scientist/Engineer Headcount by 50% will ACCOMODATE THE FIRST LICENSE AGREEMENT signed back in May 2023 after MONTHS OF NEGOTIATIONS, here,
Lightwave Logic Expands Its Colorado Operations to Support New Commercial Activities
Company Unveils Significant Laboratory Expansion to Bolster EO Polymer Production and Support Recent Talent Acquisition and Commercial Customers
ENGLEWOOD, Colo., Aug. 21, 2023 /PRNewswire/ -- Lightwave Logic, Inc. (NASDAQ: LWLG), a technology platform company leveraging its proprietary electro-optic (EO) polymers to transmit data at higher speeds with less power in a small form factor, today announced the completion of new laboratory production facilities, expanding the corporate facility in Englewood, Colorado by nearly 10,000 square feet for a total of approximately 23,500 square feet to support new commercial activity. According to the Computing Technology Industry Association, Colorado's tech industry has an economic impact of $52.6 billion, or 12.2% of the state's economy, fifth highest among all states.
The renovations and installation of new laboratory and engineering facilities expands the size of the Company's Englewood facility by over 65%, enabling commercial device testing and evaluation, production reliability testing, laser characterization, SEM analysis and the expansion of the Company's chemical synthesis production line. The facility will support the Company's recently added team members, including organic chemists as well as photonics, packaging and reliability engineers that will bring the Company's head count to 33 team members.
"As we enter into this exciting new phase of advancing our commercial business plans, we believe that we now have the team and the facilities in place to make our electro-optic polymers ubiquitous," said Dr. Michael Lebby, Chairman and Chief Executive Officer of Lightwave Logic. "This additional space allows us to grow our technical capabilities to produce, evaluate and improve our electro-optic polymer materials. The space will be utilized to support commercial material supply and license agreements - such as our recent first agreement -to provide Perkinamine® chromophore materials for polymer based photonic devices and photonic integrated circuits (PICs). Combined with several new experienced engineers, we are quickly ramping our operational capabilities to support our commercialization effort and positioning Lightwave Logic for the future, which should be exciting news to our customers and shareholders alike. "
Note that this would strongly suggest that the first License Agreement would be for volume Production of the Materials beyond what the original LWLG lab could handle!!!
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