LONDON, May 25, 2006 (PRIMEZONE) -- Quantech Electronics Corp. (Pink Sheets:QTCE), has announced today that it has submitted its proposal for a telecommunications development project, in response to CELTIC's Call 4 initiative.
Quantech's proposal focuses on the development of a new technological scenario, characterised by highly distributed systems with many data collection points, services, and computers that transform data into knowledge, to help humans coordinate the execution of complex tasks.
"According to information published by CELTIC (www.celtic-initiative.org), the program expects to launch new projects in 2007 with a total budget volume of EUR 100 to EUR 200 Million, as a result of improved support by public authorities for CELTIC. In fact, between 30% to 50% of the program's budget may be publicly funded. Possible research items for Call 4 are specified in the CELTIC Purple Book but also in the Strategic Research Agendas (SRA) of the European Technology Platforms NEM, eMobility, and NESSI," says Liat Matilsky, CEO of Quantech.
CELTIC, a Eureka ICT cluster program, initiates and operates privately and publicly funded R&D projects in the field of communications. CELTIC funds projects that focus on telecom networks, applications and services grounded in a complete system approach. Last submission date for research proposals was May 4, 2006.
CELTIC started in 2003 as a new European R&D programme, to sustain Europe's leadership in telecommunications. It will run until 2011. CELTIC is the first European R&D programme fully dedicated to end-to-end telecommunications systems. focusing on techniques, systems and services in a short- to medium-term perspective.
Quantech CEO, Liat Matilsky, added, "This is a great opportunity for the company. We feel confident that our cutting edge technology has a very realistic chance of winning major participation in this milestone project. We will keep our shareholders updated in the near future when results are announced."
About Quantech Electronics Corp.
Quantech Electronics Corp. is a web-based software development company based in the UK, that offers development services focusing on web-based desktop communication tools, call center support tools, and development packages designed to enhance the effectiveness of web-based advertising and instant messaging. Quantech Electronics Corp. develops powerful, easy-to-use software that enhances the effectiveness and efficiency of its customers' online and offline businesses. Driven to provide comprehensive solution packages for their clients' entire online business needs, Quantech focuses on customized developments for medium to large businesses, as well as start-ups. Offering several unique technologies and forged notable strategic alliances, Quantech's rapid-response systems construct client infrastructure at competitive prices.
Forward-Looking Statements
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To contact Quantech or access more information, please visit our web site at www.quan-tech.co.uk