Applications for CHS LED technologies include UV COVID-19 decontamination applications, vertical agriculture, and high intensity lighting
ANN ARBOR, MI / ACCESSWIRE / July 14, 2020 / The Coretec Group, Inc., (OTC PINK:CRTG) (the "Company"), a company developing a portfolio of silicon-based materials utilizing Cyclohexasilane ("CHS") to pursue commercial development of products in energy-focused verticals, today announced that it has filed a provisional patent, identifying and defining novel capabilities of Coretec's CHS derived silicon within next generation high-intensity, high-efficiency LED lighting. The provisional patent notes three distinct LED applications that Coretec believes its CHS technology is uniquely suited for.
The first application is the ability to create a cost-efficient, high intensity UV LED capable of killing COVID-19 and other microorganisms. Today's LED design is limited in reaching needed higher intensity light for fast and effective use; however, CHS LEDs enable much higher intensity UV light that is fast and effective in killing viruses and microorganisms.
The second application is a narrow frequency of light for vertical agriculture, capable of emitting light frequency bands that improve desired crop attributes, such as vitamins in vegetables. LEDs emitting specific frequency bands also improve vegetable shipping and shelf life.
The third application is high power LED lighting for municipalities, stadiums and airports. CHS enabled LEDs offer the ability to increase light output, better known as lumens, while simultaneously eliminating heat and reducing electricity usage. CHS enabled LEDs can replace today's standard high intensity lighting, saving 90% of electricity usage, and generate huge savings for the lighting of city streets and large area lighting needs like stadiums and airports.
The LED industry continues to see substantial growth in these core areas, with the vertical agriculture market expected to grow at >20% CAGR and reach $13 billion by 2026 and UV disinfection materials is expected to grow >12% CAGR and reach $5.3 billion by 2025 in the wake of the recent pandemic. Each of these applications stand to benefit from the incorporation of CHS into the LED manufacturing and design process. The use of CHS will enable highly efficient, high intensity LED Quantum Dots (QDs) to be developed in a way that is more cost-effective and readily available to LED manufacturers.
"The LED market is expanding into new applications and those who offer technologies capable of delivering the specific needs of these markets stand to gain tremendous value," said Michael Kraft, Chief Executive Officer of The Coretec Group. "We are pleased to have filed this provisional patent and believe that the properties and capabilities of CHS will help expand the potential of LEDs in these three high-growth markets. CHS is the key to creating a higher-efficiency, cost-effective process for highly sought after next-generation LED development."
To learn more about The Coretec Group, please visit www.thecoretecgroup.com.
About The Coretec Group, Inc.
The Coretec Group, Inc. (the "Company") utilizes a portfolio of silicon-based and volumetric display materials to pursue commercial development of products in energy-focused verticals such as energy storage, solar, and solid-state lighting, as well as printable electronics and 3D volumetric displays. For more information, visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and Facebook.
The statements in this press release that relate to the company's expectations with regard to the future impact on the company's results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
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SOURCE: The Coretec Group, Inc.