Company Unveils Significant Laboratory Expansion to Bolster EO Polymer Production and Support Recent Talent Acquisition and Commercial Customers
ENGLEWOOD, Colo. , Aug. 21, 2023 /PRNewswire/ -- Lightwave Logic, Inc. (NASDAQ: LWLG), a technology platform company leveraging its proprietary electro-optic (EO) polymers to transmit data at higher speeds with less power in a small form factor, today announced the completion of new laboratory production facilities, expanding the corporate facility in Englewood, Colorado by nearly 10,000 square feet for a total of approximately 23,500 square feet to support new commercial activity. According to the Computing Technology Industry Association, Colorado's tech industry has an economic impact of $52.6 billion , or 12.2% of the state's economy, fifth highest among all states.
The renovations and installation of new laboratory and engineering facilities expands the size of the Company's Englewood facility by over 65%, enabling commercial device testing and evaluation, production reliability testing, laser characterization, SEM analysis and the expansion of the Company's chemical synthesis production line. The facility will support the Company's recently added team members, including organic chemists as well as photonics, packaging and reliability engineers that will bring the Company's head count to 33 team members.
"As we enter into this exciting new phase of advancing our commercial business plans, we believe that we now have the team and the facilities in place to make our electro-optic polymers ubiquitous," said Dr. Michael Lebby , Chairman and Chief Executive Officer of Lightwave Logic. "This additional space allows us to grow our technical capabilities to produce, evaluate and improve our electro-optic polymer materials. The space will be utilized to support commercial material supply and license agreements – such as our recent first agreement – to provide Perkinamine® chromophore materials for polymer based photonic devices and photonic integrated circuits (PICs). Combined with several new experienced engineers, we are quickly ramping our operational capabilities to support our commercialization effort and positioning Lightwave Logic for the future, which should be exciting news to our customers and shareholders alike. "
About Lightwave Logic, Inc.
Lightwave Logic, Inc. (NASDAQ: LWLG) develops platforms leveraging its proprietary engineered electro-optic (EO) polymers to transmit data at higher speeds with less power in a small form factor. The company's high-activity and high-stability organic polymers allow Lightwave Logic to create next-generation photonic EO devices, which convert data from electrical signals into optical signals, for applications in data communications and telecommunications markets. For more information, please visit the Company's website at lightwavelogic.com .
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SOURCE Lightwave Logic, Inc.