IMAX is investing in lasers.
IMAX Corp. announced Wednesday that it plans to form a strategic partnership with Laser Light Engines, a company that develops and manufactures “ultra-high brightness, laser-driven light sources.”
The company said it would make an undisclosed equity investment in Laser Light Engines; in exchange Laser Light will develop a custom version of its technology for exclusive use in IMAX digital projection systems. They’ll also provide outsourced R+D.
IMAX hopes to use the technology to enhance the brightness of its screens and, in particular, boost its 3D projection quality.
Richard Gelfond, IMAX CEO, said his company is positioned “to generate significant cash over the next several years” and the investment in Laser Light “is an example of how we are looking to put our cash to work.”
Earlier this month, IMAX reported second-quarter gross box office revenues of $115 million — a 37 percent increase from last year.
Excluding “Avatar 3D,” however, per-screen average through the first six months was $647,000 – or an increase of 13 percent.
