Jul 19 2010
IMAX announced that it has entered into a memorandum of understanding with the developer of laser light sources, Laser Light Engines.
Under the agreement, IMAX has planned to invest in Laser Light Engines, which will develop a customized laser light technology for IMAX digital projection systems application. Laser Light Engines will also offer outsourced research & development services to improve the features of The IMAX Experience.
Laser Light Engines will provide its technology to IMAX for a two-year period and will not provide its technology to any large-format theatre systems for a three-year period. The agreement provides the companies a time-period to finalize the terms.
IMAX’ CEO, Richard Gelfond, stated that Laser Light Engines is the perfect partner for the company in developing the advanced laser technology. This investment offers them exclusive rights to research and development during the time of important growth in the industry, Gelfond said. Laser Light Engines’ CEO, Doug Darrow, noted that they are excited to work with IMAX for developing efficient systems using their solid-state laser engines.