“Dramatic leaps in NexOptic’s AI,” explains Chairman Rich Geruson, “radically enhance the image processing capability of chips.”

NexOptic Technology (TSXV NXO)
Published on: September 17, 2019

VANCOUVER, British Columbia, Sept. 16, 2019 (GLOBE NEWSWIRE) — NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FRANKFURT: E3O1) announced that it has significantly optimized and broadened its suite of artificial intelligence (“AI”) offerings.

NexOptic’s Advanced Low Light Imaging Solution (“ALLIS™”) drastically reduces image noise problematic to all camera systems. ALLIS’s noise reduction enables real-time correction of images or video taken in otherwise non-optimal lighting conditions, and media files can be streamed or stored more efficiently. Other ALLIS benefits include improvements to downstream applications, such as computational photography and facial recognition.

Since its introduction in May 2019, ALLIS’s capabilities have been improved as follows:

  • A more than 200% reduction to its prior computational requirements
  • An approximate 100 times reduction to its file size
  • A significant increase in the number of ALLIS-enabled image sensors

ALLIS can therefore be deployed into smaller imaging devices such as smartphones, tablets, and security cameras. The quantity of leading image sensors that can already be ALLIS-enabled has grown fivefold. Designed to be compatible with virtually all image sensors, the number of camera systems that could ultimately be ALLIS-enabled is expected to grow exponentially.

The most efficient way for NexOptic to gain a major foothold in the optics industry is to integrate and distribute ALLIS through semiconductor sales. “ALLIS’s increased efficiencies have allowed us to become highly selective in whose semiconductors we will be supporting going forward.” said Rich Geruson, Chairman of NexOptic. “These options should enable NexOptic to receive better industry-wide acceptance of ALLIS.”

In preparation for distribution into consumer and industrial imaging devices, NexOptic has been meeting with leading imaging and AI semiconductor manufacturers. NexOptic will initiate sales directly thereafter and/or partner with select leading semiconductor companies.

NexOptic’s growing AI team is in Edmonton, Alberta and is headed by its VP of AI Technologies, Kevin Gordon. Edmonton is also home to a division of Alphabet’s DeepMind and Amii, the Alberta Machine Intelligence Institute.

“I’m excited about the impressive solutions that NexOptic’s team can now offer to the entire optics industry,” Mr. Gordon said. “Edmonton has become a burgeoning and influential global AI hub, which is why we’ve been able to assemble such a strong team, and we look forward to growing our team and our suite of NexOptic products.”

NexOptic AI will soon be expanding beyond ALLIS and the Company will introduce some of these new AI offerings in forthcoming news releases. All NexOptic AI solutions are patent pending.

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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 related technologies and artificial intelligence offerings, 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 to 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.

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