ORLANDO, Fla.--(BUSINESS WIRE)--Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global industrial developer of laser systems for cleaning and other material processing applications, provides a strategic and operational update for shareholders and unveils details about its recent developments and strategic direction for the second half of 2024 and beyond.
"In the first half of this year, Laser Photonics has made some remarkable accomplishments that have positioned us for continued success. We have expanded and upgraded our product offerings, deepened our partnership with key market players, and successfully concluded proof of concept testing for advanced laser-based anti-drone technology," said Wayne Tupuola, CEO of Laser Photonics. "These milestones underscore our commitment to long-term growth and innovation as a company."
Key Highlights & Recent Updates
Products
- CleanTech Next Generation Laser Systems: This year, LPC launched its CleanTech next-generation laser systems, which are now part of the company's product offerings. These next-generation systems include upgraded versions of all existing CleanTech laser cleaning systems. These next-generation CleanTech models sport updated form factors for improved portability and feature mobile connectivity for enhanced functionality.
- SaberTech Next Generation Laser Systems: This year, LPC launched its SaberTech next-generation laser systems. These laser-cutting systems incorporate turbo piercing and cold-cutting technology alongside LPC's existing laser-cutting tech to achieve precise, high-quality cuts during manufacturing and fabrication. The new technology minimizes the heat-affected zone on materials during cutting, making it ideal for several critical applications.
- DefenseTech: LPC has continued to enhance its offerings for the defense and military segments through its DefenseTech product line and is deepening collaboration with its sibling company, Fonon Technologies, to continue meeting the needs of this large and growing market. LPC now offers laser cleaning, marking, and welding solutions that are adapted for use in the defense industry through its DefenseTech product line.
Strategic Partnerships
- LPC has recently partnered with Echelon 1 Solutions (E1S), a storage and logistics solutions provider for the military, to bring laser cleaning and cutting technology to the defense industry. E1S is a Service-Disabled Veteran-Owned Small Business (SDVOSB) based in Tampa, Fla., which aims to fill a critical gap in DOD operations;
- LPC is partnered with Brokk, a manufacturer of demolition robots and other remote-controlled machines for mining, construction, metalworking, nuclear decommissioning, and other high-stakes operations in hazardous environments. The companies forged a technology partnership in early 2024 and they have continued to work together since on integrating LPC’s 1500 CTHD air-cooled CleanTech laser cleaning system into Brokk’s robotic systems;
- LPC has a distribution agreement with the Fastenal Company, which delivers service and enterprise supply chain management for companies and organizations worldwide. Fastenal is currently updating its website infrastructure to distribute and promote LPC products, which will translate to an increase in revenue for LPC once fully completed;
- LPC has a distribution agreement with Incredible Supply & Logistics (ISL), a product distribution, mission kitting, and third-party logistics company specializing in supporting federal government customers and defense contractors as well as serving the maritime and space communities.
R&D
- LPC has begun collaborating with its parent company, Fonon Corporation, on the development of the Laser Shield Anti-Drone System (LSAD). This laser-based defense solution is being developed to deter unauthorized drone activity in the defense industry. Early testing of the LSAD prototype was successfully carried out at LPC's Orlando R&D facility earlier this year, which marks the start of this system's development. The product will meet the growing demand for a solution to the increased use of small drone systems in conflicts worldwide;
- LPC continues to put efforts into the development of Class I systems and its robotic cell, maintaining its competitive edge and meeting the increasing demand for this technology, driven by heightened regulations and restrictions.
Marketing
- Our state-of-the-art Customer Experience Center has completed construction and is now open to visitors. This new center, located in Orlando, Florida, features our latest products and offers a hands-on experience for customers looking to learn about how laser technology can benefit their business. The facility has already hosted a number of potential customers and continues to help facilitate sales;
- LPC has officially launched its new website. This update has given a significant boost to the company's digital presence and demonstrates its devotion to enhancing user engagement and service quality. We now encourage our stakeholders and customers to visit the website and explore new features;
- LPC has announced it is expanding into a larger facility in Lake Mary to keep pace with the company's rapid growth. The facility will house the company's growing sales and R&D teams, allowing it to increase its R&D and sales efforts while it continues to streamline quality control and logistics. LPC also plans to utilize the 50,000-square-foot facility to house its customer training center, which will serve as a comprehensive educational hub for customers and visitors;
- Our company actively participates in trade shows, showcasing our products and expanding our network. Some trade shows LPC has attended over the first half of 2024 are the Offshore Technology Conference in Houston, Texas; MegaRust 2024 in San Diego, California; 2024 Government Fleet Expo & Conference in Louisville, Kentucky; NCMS Industry Day at AMC Modernization Symposium in Huntsville, Alabama; and Waste Management Symposia 2024 in Phoenix, Arizona.
About Laser Photonics Corporation
Laser Photonics Corporation is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. At LPC, we are disrupting the centuries-old $46 billion sand and abrasives blasting markets, focused on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Our new-generation laser blasting technologies and equipment address the health, safety, environmental and regulatory concerns associated with outdated methods, establishing Laser Photonics Corp. as an industry leader for industrial laser systems. Renowned manufacturers in sectors such as aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding rely on our “unique-to-industry” systems. For more information, visit www.laserphotonics.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations as of the date of this press release and involve risks and uncertainties that may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. We encourage readers to review the “Risk Factors” in our Registration Statement for a comprehensive understanding. Laser Photonics Corp. undertakes no obligation to revise or update any forward-looking statements, except as required by applicable laws or regulations, to reflect events or circumstances after the date of this press release.
