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Eurocontrol's XwinSys Receives $300,000 Grant
TORONTO, ONTARIO--(Marketwired - Dec. 1, 2014) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES.
Eurocontrol Technics Group Inc.
(TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative energy security, authentication, verification and certification technologies, through its wholly owned subsidiary XwinSys Ltd., announces that it has been awarded a third grant from the Office of the Chief Scientist of Israel for its "Wafer bumps inspection and measurement system". The total grant to be received this year is US$300,000 and reflects approximately 50% of the total 2015 budget of over US$600,000 for the third year of research and development. This third grant increases the total grants received from the Office of the Chief Scientist to US$701,000. XwinSys designs, manufactures and markets novel solutions based on a synergistic combination of Energy-Dispersive X-Ray Fluorescence ("EDXRF") and automated 3D image processing technologies for the semiconductor and related microelectronics industries.
XwinSys is currently at a stage of performing advanced demo applications for its prospective semiconductor customers including several of the largest global companies. Demonstrations are performed on the XwinSys 100 system which was the major milestone accomplishment of last year's development efforts. The XwinSys solution is a new inspection approach for evolving test and metrology requirements of the industry and will first serve the semiconductor and microelectronics markets with additional verification applications currently being assessed by XwinSys.
"Eurocontrol is proud of the grant award for a third consecutive year from the Chief Scientist's Office for the development of XwinSys's unique verification technology," stated Bruce Rowlands, Chairman and CEO of Eurocontrol. "This grant is real proof of the necessity of the hybridization of technologies for a verified need."
"Over the past year XwinSys succeeded in launching a fully operational beta stage system demonstrating superior performance for customer's advanced requirements. The grant from the Israeli Chief Scientist, together with the comprehensive support XwinSys receives from Eurocontrol, and the excellent input and feedback XwinSys receives from prospective customers, has created a great opportunity to penetrate the market during the coming year," commented Doron Reinis, CEO of XwinSys.
About XwinSys Ltd. - XwinSys is dedicated to the design, manufacture and marketing of novel solutions based on Energy-Dispersive X-Ray Fluorescence ("EDXRF") combined with automated 3D Vision for the Semiconductor and related industries. Integrated X-Ray and optical 3D analysis is a new approach to meet the challenges of roadmap requirements for inspection and metrology of 3D structures in the semiconductor industry. 3D-IC is the fastest growing segment of the semiconductor market and leads the way to vertical stacking that is evolving as the disruptive force of the industry. XwinSys is ideally positioned to supply unique analytical solutions to critical needs in this newly emerging field of 3D integrated circuit stacks.
About Eurocontrol Technics Group Inc. - Eurocontrol through its three wholly owned subsidiaries, Global Fluids International S.A. ("GFI"), Xenemetrix Ltd. ("Xenemetrix") and XwinSys Ltd. ("XwinSys"), is a leading provider and innovator of detection and marking systems worldwide. GFI and Xenemetrix are global pioneers in developing and implementing innovative molecular marking systems for the oil industry and XwinSys is currently a development stage company. GFI's unique and proprietary liquid authentication system, Petromark™, is the world's leading solution for fully integrated oil marking, mixing and detection. Xenemetrix is a leading designer, manufacturer and marketer of EDXRF systems, a technology that is the most accurate and economic method for determining the chemical composition of many types of materials, including the analysis of petroleum oils and fuel. XwinSys is developing technology and intellectual property that will combine 2D and 3D image processing technology from Brossh Inspection Systems Ltd. of Israel with Xenemetrix's EDXRF technology for application in the semi-conductor manufacturing process.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains forward-looking statements. More particularly, this press release contains statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by Eurocontrol. Although Eurocontrol believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Eurocontrol can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in Eurocontrol's management discussion and analysis of the financial condition and results of operations for the third quarter ended September 30, 2014 which is available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Eurocontrol undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.