BURNABY, B.C., October 16, 2007 – Icron Technologies Corporation (TSX Venture: IT), the developers of ExtremeUSB® today announced that the National Research Council Canada Industrial Research Assistance Program (NRC-IRAP) will make a $240,700 contribution towards Icron’s research and development expenses relating to its next generation ExtremeUSB platform, which is focused on enhanced Home Connectivity solutions.
NRC-IRAP is a federal government program that provides a range of technical and business oriented advisory services along with potential financial support to growth-oriented Canadian small and medium-sized enterprises. Under the terms of the agreement, NRC-IRAP will provide up to $240,700 in non-repayable funding towards research and development, on the basis of a 50% recovery of supported salary costs incurred during the project. The Company expects to receive some of the contributions in the fourth quarter of 2007 and the balance during fiscal 2008.
The market is looking for simplified solutions for home users to extend their PC experience to their TV without the complexity or expense of computer networking. Icron’s next generation ExtremeUSB platform is optimised to provide simple plug and play solutions leveraging industry standard USB 2.0 technology integrated with various video options, including VGA, DVI or HDMI over a variety of media including power line, wireless or in-home structured cabling.
“We are very excited to work closely with NRC-IRAP and accept this contribution that will focus on accelerating our next generation ExtremeUSB program,” said Robert Eisses, President and CEO for Icron. “Our goal is to leverage the average home user’s existing PC and TV technology with the proven and well understood connectivity options of USB 2.0 and standard video interfaces. This solution will allow users to have a seamless PC experience, while sitting in front of their TV, which is usually in another room or part of the home.”
Icron’s ExtremeUSB 2.0 technology allows manufacturers of PC’s, peripherals, and consumer electronics to transparently bridge USB 2.0 connections over UTP cable, fiber optics, power line or any wireless media at any distance without making any changes to the USB ecosystem. This ensures that users will have a “plug and play” experience right out of the box, requiring no additional drivers, host controller changes, or user configurations. It supports all USB supported operating systems including Windows, MAC OS, Linux, Unix and Solaris.
About Icron Technologies Corporation www.icron.com
Icron Technologies Corporation’s patented ExtremeUSB® technology extends the range of USB in wired environments and enables wireless USB over any RF technology. ExtremeUSB is the only USB-IF compliant extension solution and is deployed globally in a wide range of applications including: industrial automation, medical device, aerospace, KVM and computer networking. ExtremeUSB technology is available in a variety of formats including technology licenses, OEM modules, developer kits, as well as branded and private-label products.
Icron is a publicly traded corporation and trades under the symbol “IT” on the TSX Venture Exchange. For more information on the company and its products, please visit www.icron.com
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FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release — including, without limitation, statements regarding financial estimates and future plans and objectives of Icron — are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.