Photronics, Inc. (NASDAQ:PLAB), today announced a product development initiative with Silicon Values BG Partners, an early stage Silicon Valley venture capital fund, to adapt Photronics’ novel glass structuring platform technology for use in thermal energy capture and processing applications. The initiative includes an investment from Silicon Values BG Partners. “We are pleased with the support being provided by BG Partners to further the development of our glass patterning platform within adjacent, high-value application spaces,” said Dr. Christopher Progler, CTO of Photronics. “While we remain intensely focused on our core businesses, successful demonstration here would be a significant step forward in addressing industry needs for large-area, low-cost thermal processing solutions.” The BG Partners initiative supports technology design refinements and a working prototype demonstration along with assessment of commercial viability and product scale-up potential. Investigations will be performed by Photronics’ technical personnel in Allen, Texas, in collaboration with university and supplier partners. Dr. Victor V. Boksha, Managing Director of BG Partners stated, “We are very interested in ways that the Photronics glass platform might be deployed for new, high-impact applications. While the announced investment is a key short-term focus for us, it also highlights our longer term strategy of investing in relationships and technologies that can evolve into a broad spectrum product incubation platform.” About Photronics Photronics is a leading worldwide manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits. A key element in the manufacture of semiconductors and flat panel displays, photomasks are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits, a variety of flat panel displays and, to a lesser extent, other types of electrical and optical components. They are produced in accordance with product designs provided by customers at strategically located manufacturing facilities in Asia, Europe, and North America. Additional information on the Company can be accessed at www.photronics.com. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements made by or on behalf of Photronics, Inc. and its subsidiaries (the Company). The forward-looking statements contained in this press release and other parts of Photronics’ web site involve risks and uncertainties that may affect the Company’s operations, markets, products, services, prices, and other factors. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental, and technological factors as well as decisions we may make in the future regarding our business, capital structure and other matters. Accordingly, there is no assurance that the Company’s expectations will be realized. For a fuller discussion of the factors that may affect the Company's operations, see "Forward Looking Statements" in the Company's Quarterly and Annual Reports to the Securities and Exchange Commission on Forms 10-Q and 10-K. The Company assumes no obligation to provide revisions to any forward-looking statements.