Vancouver, British Columbia, May 21, 2013 - Vancouver-based Gener8 Media Corp. (CNSX:GNR) has received a grant from the National Research Council of Canada. The National Research Council's Industrial Research Assistance Program, ("IRAP"), has awarded the company $50,000 to perform an analysis and plan for its Stereoscopic Conversion Optimization R & D project.
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Gener8, a media technology company, is a market leader in providing 3D conversion to the top studios in Hollywood, including Sony Pictures, Warner Brothers, Twentieth Century Fox, and Columbia Pictures. Projects include The Amazing Spider Man, Ghost Rider 2, Harry Potter, Narnia, and Conan the Barbarian.
Using their proprietary technology, they are the only studio in the world capable of delivering stereo conversion for an entire feature-length film that can meet or beat natively shot 3D. Unlike many of their competitors, the company uses a model and projection methodology which emulates true 3D space.
"This support from the NRC is a huge endorsement of our R&D team and our efforts to revolutionize 3D technology," stated Rory Armes, CEO. "Our hope is that this is the first step toward an on-going relationship with the NRC."
Tim Bennison, COO, added, "This project allows us to create a comprehensive and workable plan to optimize our proprietary stereo conversion technology. Not only is IRAP contributing funds to our project, but they are supporting us with their technical and academic connections."
Over the past year, 3D showings accounted for more than 60% of global box office revenues, with the number of 3D screens worldwide expected to grow to more than 21,000 by the end of 2013.
Other applications range from legacy movie conversion and consumer-based 3D production apps to industrial and medical uses.
One of the biggest challenges to the movie industry is the movement of digital assets, for which the company has developed Cumul8, a cloud-based data hub service to manage the distribution of Hollywood's digital data.
The company is trading at $0.38, and with 41.9 million shares outstanding, is capitalized at $15.9 million.
For more information, please visit www.gener8.com (http://www.gener8.com/), or contact Danielle Michael, VP of Corporate Affairs at 604- 669-8885 or email Danielle@gener8.com (mailto:Danielle@gener8.com).
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