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Eurocontrol Subsidiary XwinSys Receives Development Grant
TORONTO, ONTARIO--(Marketwire - Nov. 29, 2012) -
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Eurocontrol Technics Group Inc.
(TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification, certification and energy security technologies, through its wholly owned subsidiary XwinSys Ltd., today announced it has been awarded a grant from the Office of the Chief Scientist of Israel for its "Bumps inspection and measurement system". The total grant will be US$220,000 and reflects 50% of the total budget of US$440,000 for one year of research and development.
XwinSys is at an advanced stage in the development of a new inspection and measurement system to combine Eurocontrol's subsidiary, Xenemetrix's, Energy Dispersive X-Ray Florescence technology with Brossh Inspection Systems' 2D+3D image processing technology. The new inspection and measurement system will first serve the semiconductor and microelectronics markets with additional verification applications currently being assessed by XwinSys.
"Eurocontrol is pleased to have the support of the Chief Scientist's Office in the development of this unique technology within XwinSys," stated Bruce Rowlands, Chairman and CEO of Eurocontrol. "Their participation is validation of our approach with the combination of elemental analysis with image processing," he added.
"The grant from the Israeli Chief Scientist, together with the wide support XwinSys receives from Eurocontrol will enable us to present the new verification system to the semiconductor and microelectronics markets next year. Throughout the development process, XwinSys has been receiving excellent input and validation from potential customers regarding the verification performance requirements of these systems," commented Doron Reinis, CEO of XwinSys.
About Eurocontrol Technics Group Inc.
Eurocontrol has three wholly owned subsidiaries: Global Fluids International S.A. ("GFI"), Xenemetrix Inc. and XwinSys Ltd. GFI and Xenemetrix are global pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through the proprietary Petromark™ integral system, GFI has developed a four-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's ten-year research and development efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol allows management to pursue numerous anticipated oil marking opportunities in 2012 and in years to come. XwinSys is currently developing intellectual property that will combine 2D and 3D image processing technology from Brossh Inspection Systems Ltd. of Israel, with Eurocontrol's subsidiary Xenemetrix's Energy-Dispersive X-ray Fluorescence ("EDXRF") technology.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca.
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