LONDON (ShareCast) - (ShareCast News) - Primorus Investments announced a $0.2m equity investment in Stream TV Networks on Monday, on a fully-diluted valuation of $336m.
The AIM-traded firm said Stream TV is a Philadelphia-based new media company created to serve a consumer market seeking "enhanced entertainment" and communications experiences through devices with "unlimited accessibility" and "superior quality".

Through its wholly-owned research subsidiary, SeeCubic, Stream TV has developed glasses-free 3D display technology launched under the trade name Ultra-DT.

Primorus claimed Stream TV was "on the cusp" of commercially launching - via licence - a range of TV, tablet and smartphone glasses-less 3D screens in 2018.

Further licenced products would follow including laptops, PCs, gaming, medical, and automotive, with Stream TV intending to launch an initial public offering on NASDAQ in 2018.

Stream TV currently had small revenues from licenced sales of its screens for digital signage, Primorus noted.

It made an operating loss of $18.9m and a net loss of $42.6m in the year to 31 December 2016, partly due to $12.25m of research and development costs.

Following the investment in Stream TV, the company would have available cash resources of approximately £0.35m.

"Primorus is very excited to be able to participate in what we believe will be the next generation of visual screens," said executive director Alastair Clayton.

"We have been tracking the company for several years and believe the next 12 months will be transformational for the business as years of R&D convert into commercial products.

"In a world where 3D TVs with glasses have failed to gain momentum and where tablet and smartphone manufacturers need to demonstrate a strong differentiation for their next generation of models, Ultra-D is extremely well-positioned to be the technology that drives the replacement cycle."

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