Reflect Scientific, Inc., based in Orem, Utah – well known in the biotech, healthcare, industrial, and pharmaceutical markets as a provider of unique and innovative cryogenic cooling solutions – announced today the signing of a letter of intent with Resodyn Corporation to manufacture and distribute the RSCF Cryometrix ultra-low temperature (ULT) freezers.
In relation to the letter of intent, which includes an initial upfront fee of $50k, Resodyn obtains an exclusive license agreement to manufacture and distribute the RSCF-branded, liquid nitrogen-based, ULT freezers. The Butte, Montana-based technology developer/manufacturer, which is focused on bringing ideas to market in its core operating areas of advanced instrumentation, biotech, materials development, and resonant acoustics, also nets some $4M in total royalties.
ULT freezers like the Cryometrix T-150 represent a quantum leap forward in cryopreservation, characterized by reduced energy consumption and operating cost, smaller form factor and the elimination of CFC’s, yet still has a 21.25 cubic foot payload capacity.
The Cryometrix T-150 is a fully programmable, redundant, and compressor-free system which is robust and user-configurable, with an all-stainless steel upright design offering enhanced security, usability, and cleaning, including the elimination of icing, in a package which offers unprecedented thermal stability and reliability, thanks to proprietary CoLD® technology.
CEO of RSCF, Kim Boyce, welcomed the “dedicated manufacturing and distribution” capacity brought on-line via signing of the letter of intent as constituting precisely the kind of focused attention this spectacular product deserves and needs in order to maximize its success, and noted how this natural partnership would free up resources which can be applied to the refrigerated trucking products market, which is more suited to applications of the Company’s proprietary liquid nitrogen cooling technology.
President of Resodyn, Lawrence Farrar, expressed his eagerness to get started working alongside RSCF on the project, pointing out that the capabilities of Resodyn collectively represent a perfectly suited match and are ideal for the manufacturing of liquid nitrogen freezers.
Farrar went over the way in which the cryogenic freezer “fits well with our existing biotechnology product portfolio”, and indicated that Resodyn’s established global customer base would prove instrumental in fully realizing the potential of this product and bringing its successful market launch to fruition.