The technique for which the award is being given is for the development of "Lowry Process" — a system for the reduction of noise and other disturbances, thereby providing high quality images required by the filmmaking process.
The award will be received at the ceremony by John Lowry, Ian Caven, Kimball Thurston, Ian Godin and Tim Connolly.
Reliance Mediaworks, the film and media services firm of the Reliance Group, has used the processing technique for restoration projects like the "James Bond" franchise, "Rashomon", "The Life and Death of Colonel Blimp", as well as to new films like James Cameron’s "Avatar" and David Fincher’s "Social Network".
"Being selected for this award is a very rigorous process, which proves that the technology that started well over 10 years ago has become a powerful tool in the movie making space, and that our peers and customers in Hollywood respect the technology as a unique offering," Thurston, lead scientist at the Burbank-based Technology Centre, said in a press statement.
"I am extremely proud to have helped create this technology and be honoured with an award, and also proud of the rest of the team at RMW Burbank who continue to move the bar forward," he added.
Anil Arjun, CEO, Reliance MediaWorks said: "We are extremely proud of the team and their invaluable contribution towards the development of the proprietary image processing technology.
"Technology and innovation has been the cornerstone of our strategy and it is a great honour for the company to have its technology and members receive this prestigious recognition from the Academy."