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Although it is a first version and as such is still missing some features and has some bugs, it can be already used for high quality rendering. It is based on the Corona's latest core which is identical to 3ds Max version A7.1. This version is free for commercial use and there are no limitations in resolution or watermarks.
Corona Renderer runs entirely on CPU, currently requires Cinema 4D R14, R15 & R16 on Windows platform to run, and can be downloaded here: https://corona-renderer.com/blog/corona-c4d-alpha1/.
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