Tucson, AZ, Aug. 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Applied Energetics, Inc. (OTCQB:AERG) and the Board of Regents on behalf of the University of Arizona today announced they signed a novated research agreement with the goal of advancing research and development of advanced frequency agile optical sources and ultra-short pulse lasers for applications that include counter-threat and dual-use manufacturing technologies.
The research project will be supervised by Alan Kost, Ph.D., Associate Research Professor of Optical Sciences, University of Arizona. Dr. Kost, Principal Investigator, has over 30 years of experience in photonic materials and devices. Applied Energetics will provide the funding to support the collaboration between Applied Energetics' scientists and University of Arizona scientists, staff and students. In addition, the agreement provides Applied Energetics with the option to obtain an exclusive license of certain inventions, discoveries and other technology made as a result of the collaboration. The Company and the University of Arizona will jointly own all intellectual property developed jointly under the research project.
"We're excited about the opportunities this partnership brings to Applied Energetics," said Gregory J. Quarles, Ph.D., chief executive officer of Applied Energetics. "Teaming with the University of Arizona, one of the premiere educational and research institutions in optics and photonics worldwide, furthers our commitment to world-class open innovation that brings new ideas and technologies to market more quickly than traditional approaches."
ABOUT UNIVERSITY OF ARIZONA COLLEGE OF OPTICAL SCIENCES
The University of Arizona College of Optical Sciences, founded as the Optical Sciences Center, has been shaping the future since 1964 by offering high-quality instruction, cutting-edge research and a solid commitment to the development of the optics industry. OSC remains dedicated to providing the state of Arizona and the nation with an internationally pre-eminent program in all aspects of the study of light. For more information, please visit www.optics.arizona.edu.
ABOUT APPLIED ENERGETICS INC.
Applied Energetics, Inc., "AE" based in Tucson, Arizona, specializes in development and manufacture of advanced high-performance lasers, high voltage electronics, advanced optical systems, and integrated guided energy systems for defense, aerospace, industrial, and scientific customers worldwide. Applied Energetics pioneered and holds all crucial intellectual property rights to the development and use of Laser Guided Energy (LGE) technology and related solutions for commercial, defense and security applications, and are protected by 25 patents and 11 additional Government Sensitive Patent Applications "GSPA". The company's 11 GSPA's are held under secrecy orders of the US government and allow AE greatly extended protection rights.
For more information, visit www.aergs.com
FORWARD LOOKING STATEMENTS
Certain statements in this press release constitute forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include all statements that do not relate solely to the historical or current facts and can be identified by the use of forward-looking words such as "may", "believe", "will", "expect", "project", "anticipate", "estimates", "plans", "strategy", "target", "prospects" or "continue", and words of similar meaning. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition and may cause our actual results, performances or achievements to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. We do not assume any obligation to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting such forward-looking statements.
For more information contact:
Cameron Associates, Inc.
Investor Relations - Kevin McGrath, Managing Director
Source: Applied Energetics, Inc.