Canadian Government Funds Optics Development by NexOptic/Spectrum

NexOptic Technology Corp. and Spectrum Optix Inc. of Calgary, Alberta, have reported that Spectrum will receive a financial contribution of up to $49,725 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).

NRC-IRAP’s contribution is nondilutive to either NexOptic or Spectrum, and proceeds will be applied by Spectrum to two project activities. Part 1 will be a Market Assessment and Strategy Report conducted by a third-party firm and intended to identify use-cases and marketing/sector attributes for Spectrum’s patent-pending Blade Optics lens technology, with the goal of developing a commercial marketing strategy for the product.

Part 2 is intended to be used for the continual development of Spectrum’s proof-of-concept prototype: a first-of -its-kind telescope that utilizes Blade Optics.

NexOptic has an option to fully acquire Spectrum Optix. The companies said they are working as a single corporation at this time, with their respective CEOs sitting on each other’s boards of directors.