Over the course of reporting period 3, considerable advancements were made for the completion of the ColdNano-X project.
To start off the period, Luxbright achieved a major milestone in receiving in becoming an ISO9001:2015 company. This achievement was made well ahead of schedule. Receiving this certification signifies the quality to which the company operates and the internal system it has in place for continuous improvement. Having this is an essential part of the post-project product commercialization efforts.
A dedicated software was developed to be used for demonstration purposes of the Coldnano-X capabilities as well as for product development and/or refinement and future product pilots. The software is capable of detecting and recognizing different materials and categorizing the contents of the scanned object by calculating the energy density of the different materials. The goal in accomplishing this is to revolutionize the system operator’s experience and make security scanning less time consuming and more precise than ever before.
Great care was taken by the company to structure and analyze how to most beneficially work with its intellectual assets and IP Strategy in order to create it, protect it, and – most importantly – commercialize it. Luxbright is a company that was founded based on innovative intellectual property. Therefore, the IP strategy sets out guidelines to ensure that efforts to protect the IP is made in a coordinated manner.
Luxbright completed its strategy for documentation and standardisation of all subcomponents and materials. Because Luxbright operates internationally and ships products to customers all over the world, it is important to map out all applicable product material regulations to ensure proper documentation of materials, sales, and transportation. Furthermore, the majority of Luxbright’s sales will be made to manufacturers of X-ray power generators and/or X-ray system manufacturers. For these customers, certain regulatory requirements are imposed on their products as well as health and safety standards. Additionally, other requirements may be imposed on the customer’s products as a result of e.g. CE marking and/or ISO certifications. Luxbright’s strategy allows not only for quality control, value for money contracting, and speed to market, but also enables Luxbright to better serve its customers’ needs.
A detailed investigation into the security certifications and/or approvals required was conducted and reported on during RP3. To the best of our knowledge at the time of this writing, there are no security certifications and/or approvals required for the Coldnano-X products, i.e. X-ray tubes. There are, however, approvals required for Luxbright’s customers. Because of this, Luxbright’s goal is to ensure that all information required to support its customers to meet the certifications and approvals requirements is collected and made available whenever needed.
Throughout the course of the project, work was ongoing relating to the Marketing Strategy, Operational Strategy, and the preparation of an Investor Ready Business plan. These three items were completed during RP3.
A report summarizing the Communication and Dissemination efforts of the entire project was prepared and submitted during RP3. For the marketing and dissemination of ColdNano-X, Luxbright continued its presence as an exhibitor during key industry events in order to gain maximized traction for the ColdNano-X project. To further the project dissemination during these events, Luxbright produced a special project brochure for ColdNano-X during RP2 with further revisions to this in RP3. The brochure covers the goals and impacts of the project as well as product information and was given to the tradeshow attendees.
Last but certainly not lease, Luxbright completed the Pilot testing with two partner companies. Of utmost importance to the success of ColdNano-X is the future commercialization of the products. To this point, the Pilots resulted in both companies being so impressed with the results that discussions further commercial discussions for ColdNano-X products are underway.
