Longmont, Colorado, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Lightwave Logic, Inc. (OTCQB: LWLG), a technology company focused on the development of Next Generation Photonic Devices and Non-Linear Optical Polymer Materials Systems for applications in high-speed fiber-optic data communications and telecommunications with advanced photonic integrated circuit (PIC) platforms, announced today it will consolidate all of its corporate and R&D operations into a new facility located at 369 Inverness Parkway, Englewood, Colorado, just south of the Denver Technology Center. The move effectively doubles the combined square footage of the company’s two current locations in Longmont, Colorado and Newark, Delaware.
The new 13,420 square facility’s $1.6 million infrastructure includes fully functional 1,000 square feet of class 1,000 cleanroom, 500 square feet of class 10,000 cleanroom, chemistry laboratories, and analytic laboratories. The move will streamline all research and development workflow for greater operational efficiencies.
Jim Marcelli, President & COO said, “We have been planning this move for over six months, and have put in place a phased transition strategy that will assure continuity of product development that we expect will be completed by late March 2018. I am excited about the next chapter for Lightwave Logic, and firmly believe that this will have a positive impact on improving the performance and accommodating the future growth of our world-class product development team.”
Michael Lebby, Lightwave Logic’s CEO noted, “This will, for the first time bring together our organic materials team and our device team under one roof to accelerate our development program’s ability to address datacenter and high-performance computing challenges with our P2IC™ integrated photonics platform. Simply said, this move is not only important but critical for us to meet the demands of the market-place as we advance our technology towards product demonstrations.”
For more information about Lightwave Logic, please visit the Company’s website at: www.lightwavelogic.com
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Lightwave Logic, Inc. is a development stage company moving toward commercialization of next generation photonic devices using its high-activity and high-stability organic polymers for applications in data communications and telecommunications markets. Photonic electro-optical devices convert data from electric signals into optical signals. For more information, about the Company please visit the corporate website at: www.lightwavelogic.com.
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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; other risks to which our Company is subject; other factors beyond the Company's control.
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