Sunday, December 02, 2007; Posted: 02:29 AM
The order for QPC' proprietary BrightLase semiconductor lasers comes from an international manufacturer of consumer electronics. The contract also provides for an exclusive supply relationship that, depending on the size of the rear projection TV market, carries a value of up to $230 million over the 10 year term of the contract.
"This contract marks the successful expansion of QPC's technology into the large and growing market for visible wavelength technology," said QPC co-founder and CEO Dr. Jeffrey Ungar. "Utilizing our high powered, compact, and cost effective semiconductor laser technology, these rear projection laser televisions will offer a dramatically improved viewing experience compared to other older and/or more expensive technologies available today such as those based on lamps, plasma, LCDs, and conventional cathode ray tubes. Consumers should enjoy substantially more vibrant, life-like colors with the high resolution and wide viewing angles from a lightweight, less expensive, slimmer profile unit."
"Major consumer electronics manufacturers such as Sony Corp. and Mitsubishi have exhibited laser TV prototypes in the recent past, however, we are not aware of any Laser TV's that are currently available for consumer purchase. We believe that QPC's laser technology should enable a more rapid ramp to production and availability to consumers," said Dr. Paul Rudy, QPC's Senior VP of Marketing & Sales.
"This contract award not only signals QPC's entry into the multi-billion dollar high growth consumer electronics sector for Laser TV, but opens up numerous possibilities for utilization in a wide variety of display applications including miniature mobile projectors for mobile phones, PDAs, and laptops, along with displays for automobiles and cockpits. Our technology offers high-speed direct modulation, low power consumption, and low cost in high volume production. We believe that QPC can become a leader in providing lasers for a new generation of consumer electronics displays, and are committed to realizing this vision," added Dr. Ungar.
Pursuant to the contract, QPC expects to receive development milestone payments of up to $1,150,000 over the next 90 days. QPC also received an order that becomes non-cancellable once product specifications have been met, totaling approximately $11,000,000 for products to be delivered through June 2011.
"We anticipate recognizing initial milestone revenues from this contract in the fourth quarter of this year, and expect deliveries under the $11 million purchase order to be spread out over the next three years," said George Lintz, QPC co-founder and CFO.
"QPC's BrightLase semiconductor lasers offer an ideal solution because of the high power achievable in a single beam from a tiny, energy efficient, low cost chip," Dr. Ungar noted. "QPC's compact and efficient laser design offers a replacement to the expensive, short lived, and inefficient UHP lamps that are common engines in conventional display technology. While LED's have also been used for this application, we believe lasers offer higher brightness and improved energy efficiency. Alternative laser approaches based on conventional multi-stage lasers and lower power multiple beam diode lasers are also costly, inefficient, and difficult to manufacture in high volume."
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