StockerYale Signs a Two-Year, Sole-Source Supply Agreement with NxtPhase T&D for Specialty Optical Fiber and Fiber Based Components
Fiber Products will Target Manufacturers of Fiber Lasers and Amplifiers
SALEM, N.H.--(BUSINESS WIRE)--StockerYale, Inc. (NASDAQ: STKR - News) today announced that it has signed a two-year, sole-source supply agreement with NxtPhase T&D, a manufacturer of optical sensors and digital protection and recording solutions for the electric power industry. StockerYale will supply a series of specialty optical fibers and fiber-based components optimized for use with the NxtPhase NXCT, NXVT and NXVCT line of Optical Current and Voltage Sensors. NxtPhase sensors are changing the way high-voltage electricity is managed in the electric power industry.
NxtPhase Optical Current and Voltage Sensors are proving to be an attractive alternative to conventional iron-core instrument transformers, bringing a new level of accuracy to electric utilities. Major advantages include improved accuracy over a broader dynamic range, wider band-width, zero risk of explosive failure, lighter weight and an environmentally safe design. The market for optical current and voltage sensors is expected to grow significantly over the next two decades as electric utilities upgrade their aging equipment to more seamlessly control power through the power grid.
“We have worked closely with NxtPhase to develop polarization maintaining optical fibers specific to their applications over the past three years and StockerYale is pleased to enter into this supply agreement with the leading optical sensor manufacturer serving the electric power industry,” said Paul Jortberg, Senior Vice President at StockerYale.
About StockerYale
StockerYale, Inc., headquartered in Salem, New Hampshire, is an independent designer and manufacturer of structured light lasers, LED modules, and specialty optical fibers for industry leading OEMs. In addition, the company manufactures fluorescent lighting products and phase masks. The Company serves a wide range of markets including the machine vision, industrial inspection, defense, telecommunication, sensors, and medical markets. StockerYale has offices and subsidiaries in the U.S., Canada, and Europe.
For more information about StockerYale and their innovative products, visit the Company's web site at www.stockeryale.com or contact StockerYale, Inc., at 32 Hampshire Rd., Salem, NH, 03079. Call 800-843-8011, Fax 603-893-5604, Email: .
About NxtPhase T&D
NxtPhase T&D Corporation develops, manufactures, and markets optical sensors and digital protection and recording solutions that are designed to change the way high-voltage electric power is managed in a competitive electric power industry. The NxtPhase relay and recorder line provides smart, easy-to-use protection and monitoring of electrical power systems. Optical current and voltage sensing products offer more accurate digital information, broader dynamic range, wider bandwidth, improved safety, and significant environmental benefits compared with conventional technologies. NxtPhase T&D Corporation is a privately held company with sales and manufacturing operations in the U.S. and Canada. Find out more about innovative NxtPhase solutions at www.nxtphase.com.Notice to Investors:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact, including without limitation, those with respect to StockerYale's goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uncertainty that cash balances may not be sufficient to allow StockerYale to meet all of its business goals; uncertainty that StockerYale's new products will gain market acceptance; the risk that delays and unanticipated expenses in developing new products could delay the commercial release of those products and affect revenue estimates; the risk that one of our competitors could develop and bring to market a technology that is superior to those products that we are currently developing; and StockerYale's ability to capitalize on its significant research and development efforts by successfully marketing those products that the Company develops. Forward-looking statements represent management's current expectations and are inherently uncertain. You should also refer to the discussion under "Factors Affecting Operating Results" in StockerYale's annual report on Form 10-KSB and most recent quarterly report on Form 10-QSB for additional matters to be considered in this regard. Thus, actual results may differ materially. All Company, brand, and product names are trademarks or registered trademarks of their respective holders. StockerYale undertakes no duty to update any of these forward-looking statements.