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. "
About Lightwave Logic, Inc.
Lightwave Logic, Inc.
(NASDAQ: LWLG) develops platforms leveraging its proprietary
engineered electro-optic (EO) polymers to transmit data at
higher speeds with less power in a small form factor. The company's
high-activity and high-stability organic polymers allow Lightwave
Logic to create next-generation photonic EO devices, which convert
data from electrical signals into optical signals, for applications
in data communications and telecommunications markets. For more
information, please visit the Company's website
at 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 and 10-Q; other risks to which our company is subject; other
factors beyond the company's control.
Investor Relations Contact:
Lucas A. Zimmerman
MZ Group - MZ North America
949-259-4987
LWLG@mzgroup.us
www.mzgroup.us
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SOURCE Lightwave Logic, Inc.
