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EQS-News: Laser Photonics Corporation
At the end of September, Laser Photonics Corp. (NASDAQ: LASE) blasted its way onto the Nasdaq Stock Market. An industrial laser technologies and systems company, Laser Photonics (LPC) produces a variety of laser-based products for the specialized machinery industry. Its CleanTech laser is one of its products seeking to disrupt the abrasives cleaning market. In 2021, the global abrasive cleaning market was $46.4 billion, while sandblasting was $6.23 billion. Abrasive cleaning includes rust removal, contaminant removal, surface conditioning and finishing to machinery across a wide variety of industries, including electronics, medical equipment, manufacturing and the military. However, abrasive cleaners often include toxic chemicals, and sandblasting (where a high density of small particles are blown onto the surface) carries its own dangers, all of which are rubbing the market the wrong way. The National Institute for Occupational Safety and Health (NIOSH) has warned about the health hazards and safety risks that can be involved in abrasive blasting, and this creates pressure for industry companies to find a way to continue cleaning material without endangering their employees. Looking Photon-genicLPC is bringing change to this market with its CleanTech laser cleaning system. Laser blasting avoids the health hazards of the more risky abrasive treatments because workers are not exposed to a cocktail of chemicals. This also makes the blaster more eco-friendly, a quality increasingly important for both private and public companies looking to adopt environment-positive policies. The CleanTech lasers allow for a greater degree of control, which means they don’t damage the substrate material being cleaned, a frequent risk when using abrasive blasting treatment. They are also more energy and time-efficient, allowing companies to decrease labor costs. The company is working with a large addressable market by delivering a variety of laser products with diverse applications. Beyond cleaning, these lasers can be used for marking, engraving, cutting and 3D metal printing. LPC sees its 3D metal printing as a disruptive force in the manufacturing industry, and its printers use proprietary tech that will serve across the aerospace, manufacturing and automotive industries. Harnessing the power of photons, LPC is bringing cutting-edge technology to the market with its standardized and specialized laser-blasting equipment. The company works with both public- and private-sector clients, from Fortune 1000 companies to the U.S. military, serving domestic and international customers from North America to North Africa. It has established itself in the market with what it calls its “blue chip customer base” — key players across a range of industries, including Ford Motor Co. (NYSE: F), 3M Co. (NYSE: MMM), Dell Technologies Inc. (NYSE: DELL) and others. Other companies working to develop the laser industry include Coherent Corp. (NASDAQ: COHR), Lumentum Holdings Inc. (NASDAQ: LITE) and IPG Photonics Corp. (NASDAQ: IPGP). The company saw a 30% increase from the first half of 2021 to 2022, seeing over $2.5 million in sales from January to June this year. The company says it is positioned for continued rapid growth. “We have a rare opportunity to participate and lead the market for laser-blasting, an opportunity that could last decades,” LPC CEO Wayne Tupuola said. “We believe a perfect storm is brewing given the technological advancements, the regulatory and labor environment and access to the capital markets, and we look forward to capitalizing on this opportunity.” To learn more about Laser Photonics Corp., visit its website. Laser Photonics is a vertically-integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. LPC seeks to disrupt the $46 billion, centuries old, sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. LPC's new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental, and regulatory issues associated with the old methods. As a result, LPC has quickly gained a reputation as an industry leader for industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using LPC's "unique-to-industry" systems. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact DetailsBrian Siegel, IRC®, M.B.A. Senior Managing Director Hayden IR Company Websitehttps://www.laserphotonics.com/ News Source: News Direct
18.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Laser Photonics Corporation |
| United States | |
| ISIN: | US51807Q1004 |
| EQS News ID: | 1466225 |
| End of News | EQS News Service |
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1466225 18.10.2022 CET/CEST
