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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Richard Geruson, NexOptic Chairman Announces NexOptic Enters Next Phase of Commercialization

September 10, 2021 GMT

VANCOUVER, British Columbia, Sept. 10, 2021 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1), an innovator in cutting-edge Artificial Intelligence (AI), announces that it has moved into its next phase of commercialization.

When NexOptic initiated ALIIS™ there were multiple objectives in mind, including creating strong relationships with key semiconductor players. The Company was also determined to create artificial intelligence-based solutions that could surmount limitations central to all imaging platforms, meaning that Aliis needed to be easily deployable into virtually any imaging vertical from smartphones all the way to security, automation, automobiles, medical devices and more. To this end, Aliis had to be extremely power efficient, operate on the edge, and be straightforward for customers to implement. Additionally, the Company wanted Aliis to be fortifiable through a growing patent estate.

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“We’re at the beginning of a paradigm shift within the entire imaging industry whereby camera platforms are increasingly becoming AI centric on the device itself,” said Paul McKenzie, NexOptic’s Co-Founder and CEO. “This includes both industry as well as consumer applications and it’s creating significant advantages for data carriers as well as users of all types of data. We’re increasingly well positioned to become a significant contributor in this fast-growing AI on-device trend.”

With key objectives in hand, and with full marketing and other support from industry partners NVIDIA, Qualcomm and ARM, NexOptic’s North American- and Korean-based sales teams have been attracting rising numbers of enquiries for demonstrations of Aliis to prospective customers. Interested parties continue to include large multinationals as well as regional start-ups, and NexOptic has become expedient in processing its customer enquiries and fully demonstrating the efficacy and significant advantage of Aliis.

As part of enabling the Company’s Korean team, NexOptic has engaged with a global leading engineering and software development company to develop its Aliis Android demonstration app. The app perfectly demonstrates the capabilities of Aliis to potential NexOptic customers, leveraging the power of mobile chipsets and the compact form factors they provide. With the help of this development partner, the Company’s focus can remain on the core AI technology, while still delivering a polished technical demonstration tool to sales and BD teams.

Along the same lines, NexOptic has developed its own NVIDIA Jetson based evaluation kit (EVK) that select prospective customers are utilizing. The kit leverages the raw performance of NVIDIA’s Jetson platform and runs all of Aliis’ algorithms on real time HD video coming from the bundled machine vision camera.

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Equally critical to the Company’s technology development and commercialization objectives is its IP fortification strategy. Using top-tier Silicon Valley-based IP attorneys NexOptic has been happy to announce two key patents being granted, with more pending. New applications are continuing to be filed on a regular basis as NexOptic develops new solutions, optimizes existing solutions, and discovers new use cases along the way. The Company is excited to share more about how it has tackled some of the complexities of video with its AI and will continue to provide updates as they become material news.

NexOptic has also added people to its sales and technical teams and will continue to grow to match demand. NexOptic’s secondary web domain, www.aliis.ai will be launched soon and will include private sections for customers as well as sections for shareholders to better understand the full capabilities of the Company’s technologies.

ALIIS™ in a Nutshell

ALIIS™ (All Light Intelligent Imaging Solutions) is a machine-learning AI suite providing instant enhancement to images and videos in the areas of edge processing, shutter speed, resolution and sharpness, image-noise and motion-blur, and image colour and detail. These patented and patent pending solutions can be integrated with imaging devices such as smartphones, smart security cameras, Internet of Things (IoT) devices, automotive platforms, medical imaging technologies, DSLR cameras and more. Additionally, Aliis does all of this while compressing data and reducing media file size, making it ideal for the storage and transmission of image data.

Qualcomm featured Aliis in its 5G Summit 2021 press kit announcing the new 700-series chipset for mobile devices: the Snapdragon 778G, and a recent webinar hosted by ARM and their Senior AI Ecosystem Manager set a live global audience attendance record. For more information, visit www.nexoptic.com/aliis.

What You Need to Know About NexOptic

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering world-leading patented and patent pending AI solutions for imaging known as ALIIS™ (All Light Intelligent Imaging Solutions). NexOptic simultaneously influences the imaging and AI industries and is a Preferred Partner in the NVIDIA Partner Network, a member of the Arm® AI Partner Program, and a member of the Qualcomm® Platform Solutions Ecosystem. For more information, visit  www.nexoptic.com.

Media and Investor Enquiries

Tel: +1 (604) 669-7330 x 202

Email: look@nexoptic.com

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 artificial intelligence technologies, 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 the Company’s AI technologies, sport optics product designs and additional work may be required to confirm potential applications and feasibility of such technologies or for the successful commercialization of its offerings; 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 all designs may not achieve expected results; the Company may not be able to reach commercial success; the Company may not be able to source components for some of 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.