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GOLDEN, CO and MURRAY HILL, NJ -- Isonics (NASDAQ: ISON) and Lucent Technologies (NYSE: LU) Bell Labs announced today that they have entered into a Development Agreement whereby the two companies will endeavor to develop a next generation infrared (IR) imaging and night vision surveillance technology based on pioneering research by Bell Labs at its micro electro-mechanical systems (MEMS) and nanotechnology fabrication facility. The development plan contemplates a proof-of-concept within 12 months, followed by steps toward commercialization.
Infrared technology, which converts infrared radiation in the non-visible spectrum, such as body heat, into a visible image, is commonly found in both commercial and military/homeland security applications including night vision goggles and cameras, rifle scopes, and threat detection devices used to identify concealed weapons or explosives.
Isonics is proud to be working with Bell Labs to develop and commercialize this important new technology, said James E.
Alexander, Chairman and CEO of Isonics Corporation. Isonics believes that the successful commercialization of this technology has the potential to change the cost and performance dynamics of an entire industry. At the end of the day, we believe this development effort will allow Isonics to introduce products that deliver higher performance with lower power consumption at a reduced cost compared to what is currently available in the marketplace today.
Industry research used by Isonics indicates that there is currently over a billion-dollar annual market for IR imaging and night vision cameras and systems, said Alexander. We believe that the present market has been constrained due to the high cost of todays technologies. Isonics and Lucent have undertaken the task to extend Bell Labs proven capability in MEMS design and fabrication to meet a large and critical national need for broader use of infrared capability on the battlefield and for homeland security. This MEMS approach has the potential for enabling new applications, even in the price-sensitive commercial and consumer sectors, due to its expected superior performance and cost effective manufacturability.