May 20, 1998 - ZTEST - Nexsys Partnership Status Update
MISSISSAUGA, ONTARIO--ZTEST Electronics Inc., ZTST - CDN, ("ZTEST") is pleased to announce that its strategic partner, Nexsys Commtech International Inc. ("Nexsys") of Waterloo, Ontario, has initiated the placement of manufacturing orders necessary to start the first three (3) initial pilot installations of Nexsys Gateway System technology being installed in each of the following cities: Waterloo, Ontario; Cornwall, Ontario; and Fort Wayne, U.S.A.
As per the terms of the ZTEST - Nexsys partnership agreement, ZTEST will manufacture the required hardware for Nexsys. This initial contract is a $500,000 purchase order for components required for these initial three (3) pilot installations.
The Nexsys MT2000 Automatic Meter Reader (AMR), which was originally developed to electronically read electric meters and communicate directly to the local utilities, has been expanded into a two-way wireless system that can monitor the utilities in a home (water, gas, electric) and become the hub or gateway to transmit and receive information from smoke detectors, carbon monoxide detectors, medical alert devices and security systems.
The Nexsys Gateway System technology, as reported in our earlier October 29, 1997 Press Release, allowed fire fighters to reach the scene within two and one-half (2 1/2) minutes after the smoke detector went off, which was more than four (4) times faster than in a simultaneously compared case without an automated fire detection system in place.
In addition to its proprietary line of Automatic Test Equipment, ZTEST offers Strategic Partner services in electronic design, development and manufacturing to emerging high tech companies in return for long-term manufacturing contracts, fees for services and equity positions.