Wash., Feb. 15 /PRNewswire-FirstCall/ -- Lumera Corporation
(NASDAQ:LMRA) , an emerging leader in the field of
nanotechnology, has been awarded a $1.11 million contract
extension from a U.S. government agency to continue
development of wideband optical modulators.
The new contract extension was awarded to transition
Lumera's proprietary electro-optic polymers into high
performance devices by developing custom polymers
that are critical in other parts of the device. The
overall contract value has now reached approximately
"This latest contract agreement is a validation
of our product development strategy and supports Lumera's
approach of designing materials for the whole system
to complement our leading electro-optic performance,"
said Lumera Chief Executive Officer Tom Mino. "We
believe these high performance devices have the strong
potential to enable a whole new generation of fiber
optic and wireless communication systems and we remain
optimistic that we can play a role in this evolution."
Lumera is developing a new generation of unique active
and passive components for optical networks that are
expected to deliver increased bandwidth at very competitive
costs while requiring less power than current devices.
The company's component development is based on both
internally developed proprietary electro-optic and
passive polymer materials and exclusively licensed
materials from the University of Washington.
Optical modulators are applicable to a range of commercial
markets including companies who own and operate long-haul
and metropolitan optical networks. Lumera is developing
wideband optical modulators that could enable the
next generation of communication networks, including
hybrid wireless-fiber optic networks.
Lumera is in the process of commercializing additional
materials developed through nanotechnology in other
industries, including biotechnology. These technologies
may dramatically improve a number of key biotech arenas
ranging from bio-arrays to drug discovery.
Lumera is an emerging leader in the field of nanotechnology.
The company designs proprietary molecular structures
and polymer compounds for a broad range of electro-optic,
bioscience, RF and specialty nanotechnology applications.
The company also has developed proprietary processes
for fabricating such devices. For more information,
please visit http://www.lumera.com/.
Source: Lumera Corporation
CONTACT: Todd Wolfenbarger
of The Summit Group Communications,
+1-801-595-1155, or cell, +1-801-244-9600, for Lumera
Web site: http://www.lumera.com/