VANCOUVER, British Columbia, May 08, 2019 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. ("NexOptic" or the "Company") (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) reports that it has made significant advancements to its cutting-edge Artificial Intelligence (“NexOptic AI” or “AI”) imaging solution.
NexOptic’s Advanced Low Light Imaging Solution (“ALLIS”) provides immediate solutions to problems that have plagued the imaging industry for decades. NexOptic’s engineered AI drastically reduces image noise common to all imaging systems while improving performance in low light conditions. This is accomplished with NexOptic’s expanding suite of patent-pending, deep learning algorithms.
Some of the key benefits of ALLIS include:
- Superior low-light performance
- Dramatic reduction in image noise
- Improved downstream applications (computational imaging, facial recognition)
- Enhanced long-range image stabilization
- Major reduction in file sizes
“We are at a watershed moment in the imaging industry, and ALLIS puts us at the forefront of learning-based technology enhancement,” said Rich Geruson, Chairman of NexOptic’s Board of Directors. “Canada, and Edmonton in particular, has become a global hub for ground-breaking AI development, and we are taking full advantage of our geographical location by adding talented new team members to our organization.”
NexOptic’s technology is designed to perform in a variety of lighting conditions, enabling more compact optics with less expensive electronics. This technology also greatly reduces file sizes for compressed media and lowers bandwidth usage during data transmission. NexOptic’s AI improves imaging quality not just for the human eye, but for other companies’ applications, such as facial recognition or object classification, and could become a critical component of the AI infrastructure of tomorrow.
NexOptic has increased its capacity to develop leading solutions with the recent commissioning of its AI lab in Edmonton. The region is home to top AI companies, such as Google’s Deepmind, and has garnered financial and other support from both the Canadian and Alberta governments. Due to growing industry interest, the company continues to expand its AI operations and is adding new members to its team.
“AI is already part of our daily lives and will continue to grow and shape every aspect of our society; imaging systems are no exception,” said Kevin Gordon, who heads NexOptic’s AI division. “NexOptic offers an industry-leading low-light solution and is well positioned to be a formative player in the imaging systems of tomorrow.”
NexOptic is in advanced discussions with several companies representing a variety of imaging markets that could greatly benefit from ALLIS. In forthcoming news releases, the Company will outline the specifics of its commercialization plans for ALLIS as well as details of its planned path to production of DoubleTake™, its multiple award-winning, reimagined binoculars.
About NexOptic Technology Corp.
NexOptic is an innovative optical development company, which aims to enhance the way we view the world around us. The Company is preparing to launch its reimagined binoculars, the multi-award winning DoubleTake, its first consumer product engineered to disrupt the growing outdoor recreation market. DoubleTake utilizes NexOptic’s high magnification lenses for a state-of-the-art digital experience. NexOptic is also working to commercialize its ground-breaking artificial intelligence (“AI”) for imaging as well as exploring opportunities for the Company’s innovative mobile lens designs. Utilizing Blade Optics, the Company’s developing suite of optical technologies which now includes AI, NexOptic can increase aperture sizes within given depth constraints of various imaging applications for improvements to diffraction limit and resolution. NexOptic’s AI drastically reduces image noise and motion blur common in poor lighting environments. In addition to enhancing image quality, NexOptic’s AI can be used to improve long-range image stabilization and image capture in otherwise difficult lighting conditions.
Blade Optics refers to NexOptic’s lens designs, algorithms, and mechanics, which vary from patented to patent-pending, and includes all the Company’s intellectual property and know-how. More information is available at www.nexoptic.com.
Media and Investor Enquiries
Tel: +1 (604) 669-7330 x 202
look@nexoptic.com
Product Enquiries
Kerri McTaggart
Tel: +1 (604) 669-7330 x 304
kerri.mctaggart@nexoptic.com
TSX-V: NXO
OTCQX: NXOPF
Frankfurt: E3O1
Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its sports-optic device and technology, and expected results, specifications, capabilities, and applications thereof. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the Company’s technology, product designs and prototype are at an early stage and additional work will be required to confirm potential applications and feasibility of its technologies or bring product designs to market; the Company may not be able complete product development as currently expected; potential applications of the Company’s technology are based on limited studies and may not be representative of the broader market; the risk that prototypes and designs may not achieve expected results; the Company may not be able to commercialize its technology; the Company may not be able to source components for its products on a cost-effective basis; the Company may not have access to necessary financing on acceptable terms or at all; pending or future patent applications may not be approved as contemplated or at all; and other risks inherent with technology and product development and the business of the Company. Such forward-looking statements should therefore be construed considering such factors. Other than in accordance with its legal or regulatory obligations, the Company is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise.
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 news release.