ALFT was founded in 1987 by Dr. Emilio Panarella. His vision was to take the more than 20 years of fusion research he did at the National Research Council of Canada and convert it into a marketable product aimed at the high technology industry.
Federal and local governments initially provided financial support. Later, in 1996, venture capital funding from the Business Development Bank of Canada, Innovatech du Grand-Montréal and CGD Capital provided sufficient financial support to verify that either the X-Ray or EUV technology being explored by ALFT could become a product suitable for the production of advanced semiconductors. Hence, ALFT is developing two products, one suitable as an X-Ray Point Source (VSX), the other (SPX) as an Extreme Ultraviolet (EUV) Source.

Over half of ALFT's international staff has university degrees, four members with PhDs. To date, over $10M USD has been invested in developing these two products. The company has secured sufficient financing and has the proper team in place to bring both products to market. The VSX system will be introduced to the semiconductor market in 2002. Demonstrations are currently being conducted.