YGEN.L Regulatory News (YGEN)

4 Jan 2007 07:00

ViaLogy PLC04 January 2007 ViaLogy plc ("ViaLogy" or "the Company") Milestone Achieved Completion of Key Milestone on Multi-parallax Exploitation ("MPEX") ElectronicEye(TM)Program with Boeing Phantom Works LONDON, Jan 2 -- ViaLogy plc (LSE: VIY), a leading innovator of real-timenetwork-centric signal processing platforms for sensor-intensive applications,announced today that it has successfully completed the Critical Design Review("CDR") Milestone on the Multi-parallax Exploitation ("MPEX") Electronic EyeTMProgram with Boeing Phantom Works ("Boeing") in Huntington Beach, CA, USA. The Electronic Eye(TM)program was initiated in direct response to emergingprecision detection requirements in next-generation missile detection anddefense systems (seekers) and panoramic airspace surveillance platforms. Underthe joint program with Boeing, ViaLogy's core signal processing technology -Quantum Resonance Interferometry ("QRI") - is providing the basic engine forpowering the silicon electronic-eye based on vision constructs found in insectsand reptiles. Vialogy has a patent pending on the MPEX Electronic Eye(TM)and itsapplications. Currently, most advanced vision systems are limited to only stereo vision with asingle parallax based on the co-registration of frames from two eyes, allowingonly a scan of the horizon. In contrast, MPEX Electronic Eye(TM)is exploitingmultiple parallaxes to achieve panoramic or 360-degree viewing capability andthree dimensional perception using multiple, overlapping fields-of-view. Thisconstruction dramatically increases the probability of target detection andlocalization. Dr. Edward McCullough, Principal Scientist in advanced aero analysis at BoeingPhantom Works, commented: "I am very excited by ViaLogy's rapid progress andnovel approach on the MPEX Electronic Eye(TM) Researchers have been studying thecomputational architectures, functions, mechanisms, and principles of visualperception underlying biological systems for over three decades to find ways toimplement them. We have specific near-term and long-term interests in thistechnology to support our defense, homeland security and space program needs." ViaLogy's Chief Technology Officer, Dr. Sandeep Gulati said: "We are buildingupon seminal work conducted by Dr. McCullough and his team in the area ofbiomimetic-based advanced autonomy for future planetary rovers and spaceoperations. Our core technology provides a near-term opportunity for overcomingsome of the fundamental information processing and system engineering challengesin implementing multi-parallax construction to address practicalomni-directional surveillance applications. MPEX has been developed as aplatform technology in its own right and we are now making good progress inadapting it for specific applications." ViaLogy's initial MPEX Electronic Eye(TM)applications are geared to detection ofvery fast moving targets such as in missile interceptors, deployment on fastmoving ground vehicles and airborne platforms such as UAVs (unmanned aerialvehicles), and omni-directional tower mounts for border surveillance andcritical infrastructure security. Commenting on the achievement of this milestone, ViaLogy's CEO, Michael Kelly,said: "MPEX is very well aligned with the ViaLogy business model. We can applyour unique expertise and sensor-agnostic signal processing technology tocommercial off-the-shelf hardware and sensors to deliver enhanced performance ata fraction of the cost of comparable systems especially designed for militaryapplications." Next steps in the Boeing collaboration include a demonstration of the use ofMPEX Electronic Eye(TM)engineering for detection of ground-based border intrusionevents, and an aerial payload for low altitude UAVs. Successful operationaldemonstration of the proprietary MPEX technology could lead to its use in anumber of future defense and homeland security programs. For further information please contact: ViaLogyMichael Kelly, CEO - US +1 626 296 6337Terry Bond, Chairman - UK & Europe +44 (0)20 2869 7014 Redleaf CommunicationsEmma Kane / Samantha Robbins +44 (0)20 7822 0200 About ViaLogy: Network Centric Signal Processing. ViaLogy is a leading innovator of network-centric, real-time signal processingplatforms for sensor (intensive) applications. ViaLogy is currently deployingand designing computational systems, powered by its patented technologies, forapplications in life sciences, public safety and security, surveillance, defenseand geoseismology. Vialogy focuses on market driven problems where automation,timeliness, quality and reliability of information processing are essential.ViaLogy's core competency incorporates rapidly and accurately detecting weaksignals buried in high noise background and clutter. This technology can beemployed to solve problems involving sensor integration and information overloadchallenges involving video, telephony and control sensors, as well as forenhancement of numerous signal processing applications. For more information,visit our website at www.vialogy.com. Except for statements of historical fact, the information presented hereinconstitutes forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Such forward-looking statementsinvolve known and unknown risks, uncertainties and other factors which may causethe actual results, performance or achievements of the company to be materiallydifferent from any future results, performance or achievements expressed orimplied by such forward-looking statements. Such factors include generaleconomic and business conditions, the ability to acquire and develop specificprojects, the ability to fund operations and changes in consumer and businessconsumption habits and other factors over which ViaLogy has little or nocontrol. This information is provided by RNS The company news service from the London Stock Exchange