Funds to Aid Development and Commercialization of “transformative” CSpace™ 3D Imaging Technology Worldwide. OCAST is a high-impact agency funded by Oklahoma appropriations and governed by a board of directors with members from both the private and public sectors.
TULSA, Okla.--(BUSINESS WIRE)--3DIcon Corporation (OTCBB: TDCP), a development-stage technology company, announced today it has been awarded a two-year applied-research grant of $299,932 from the Oklahoma Center for the Advancement of Science and Technology (OCAST). This grant will finance further development of 3DIcon’s groundbreaking CSpace™ display technology which is capable of rendering high-resolution, 360-degree, true three-dimensional images.
Funding of OCAST’s first-year grant of $149,940 is contingent upon 3DIcon’s providing matching funds of $149,940 for the first year’s research and submission of all required documentation to OCAST. The project’s start-date is expected to be January 1, 2009. OCAST’s second-year grant of $149,992 is contingent on 3DIcon’s obtaining matching funds and a satisfactory performance evaluation of the first-year’s research.
OCAST executive director Michael Carolina explained, “OCAST’s goal is to see Oklahoma become a leader in new technologies, science, research, and development. To that end, we invest in Oklahoma companies that we feel have the most promising technologies for commercialization and job creation in our state. 3DIcon’s CSpace is a transformative technology with the potential to impact industry worldwide. We support 3DIcon’s efforts to develop innovative technologies through productive partnerships of private enterprise with higher education and research at Oklahoma’s many creative centers of learning.”
3DIcon’s chairman and CEO Martin Keating added, “OCAST’s generous grant is a vote of confidence in three-dimensional communications, CSpace, and the future of technology in Oklahoma. These funds will accelerate our research and development efforts while strengthening our budget in a way that is most beneficial for our shareholders.”
About OCAST
OCAST is a high-impact agency funded by Oklahoma appropriations and governed by a board of directors with members from both the private and public sectors. OCAST works in partnership with the private sector, higher education, CareerTech, and the Oklahoma Department of Commerce. OCAST-funded research projects are first reviewed by out-of-state science and business experts and ranked according to scientific merit and commercial potential. OCAST is Oklahoma’s only agency whose sole focus is technology, its development, transfer, and commercialization.
About 3DIcon Corporation
3DIcon Corporation is a developer of groundbreaking 3D projection and display technologies that are being designed to produce full color, 360-degree volumetric images. Through its sponsored research agreement with the University of Oklahoma, 3DIcon owns the exclusive worldwide marketing rights to all 3D intellectual properties developed or under development under the SRA. www.3dicon.net
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With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of 3DIcon could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations, inability to hire and retain qualified personnel, and changes in the general economic climate. In some cases, one can identify forward-looking statements by terminology such as "may,will,should,expect,plan," "anticipate,believe,estimate,predict,potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by 3DIcon, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
