Shareholders of Lightwave Logic Inc. – which is developing technology for telecommunications and computer information delivery – heard some encouraging words Friday.
The publicly traded company shined a light toward the end of a long tunnel in its effort to bring its technology to market. The nut is one that other scientists have been trying to crack for the past 30-40 years.
Lightwave chemists work in optical computing, telecommunications and photonics for the military. In modern-day electronics, commercial utility boxes with copper circuitry for fiber optic information delivery process an astronomical number of transmissions at any given time.
Lightwave’s technology, developed at a lab in Newark, represents a faster, cheaper solution for information delivery, they say. Electrical interference is a major hurdle, and Lightwave’s technology may become the next best thing for an industry that demands high-speed information delivery.
In May, the firm brought in Tom Zelibor as its chief executive officer to reinvigorate its path to profitability. At Friday’s meeting before 100 at the Newark Hilton, he and independent board member Joe Miller explained two significant changes.
“We moved away from a broad set of university partnerships and built a laboratory,” Miller said, describing the state-of-the-art facility recently completed in the Delaware Technology Park.
The company also is working toward completion of a testing facility that will foster an environment of rapid in-house feedback and test results instead of waiting months for other labs to return results.
Long turnaround times have plagued the company, Zelibor said, and it is not acceptable for a company that is trying to commercialize profits. Improving its lab and gaining the ability to conduct its own tests may be the answer. The previous lab was lacking a controlled environment, leading chemists, at times, to come upon inconsistent results, he said.
“We needed to build our own laboratory that gives us control over these very complicated materials,” Miller said. “We’re taking a much more aggressive posture to have much greater control.”
The company’s key intellectual assets are traced to its founder, Dr. Frederick Geotz, in 1994. Today, its 15-member staff is confident they can bring the technology to market – an avenue few others are pursuing and many have opted out of, including DuPont, AT&T and Nortel.
Contact Cori Anne Natoli at 324-2855 or email@example.com.