–News Direct–
By Faith Ashmore , Benzinga
Laser Photonics Corporation (NASDAQ: LASE) (LPC), a leading global industrial developer of CleanTech laser systems for laser cleaning and other material applications, recently provided an update on its strategic and operational direction for shareholders. The company is best known for its specialization in integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre- and post-welding, laser cleaning and surface conditioning which cater to a wide variety of industries.
In October, LPC acquired an exclusive license for its cold-cutting and high-power laser technologies from ICT Investments, a private investment company focused on the alternative energy sector. This acquisition seems poised to strengthen LPC's TiTAN series of laser-cutting technology and serve as the foundation for its new SaberTech product line.
This comes in the wake of Wayne Tupuola, CEO of Laser Photonics, expressing the company's commitment to long-term expansion, growth and increasing stockholder value. He acknowledged that LPC has only scratched the surface of the market's potential and technological capabilities.
Laser Photonics CleanTech lasers are known for their advanced technology and safety features that contribute to the companys reputation as a safer option compared to other blasting methods. The CleanTech laser systems operate by concentrating a high-powered laser onto the targeted area for cleaning purposes, and LPC reports that this technology effectively eliminates substances such as rust, corrosion, residue and paint from different materials without causing any harm to the surface beneath. By harnessing the energy released during the laser cleaning process, contaminants are efficiently and precisely removed from substrates. This method ensures that operators are protected from the potential hazards of using harmful chemicals and substances while achieving fast and accurate cleaning results, and LPC has been continuing to expand its existing product line to better serve the industries it partners with.
LPC has made improvements to its laser technology exclusive to the maritime industry. Its key product in this industry, MARLIN, now features specialized laser patterns, water-tight seals and an updated design to better meet customer needs at a lower price point. LPC plans to further expand this product line to cater to professionals in shipbuilding and boat manufacturing.
Similarly, LPC has adapted its CleanTech and MarkStar technology for the defense and military industry, tapping into the significant market potential for laser cleaning and marking technology. The adapted technology has been rebranded as DefenseTech. LPC is also transforming its TiTAN series of laser-cutting systems into the new SaberTech product line by incorporating the recently licensed cold-cutting and high-power laser technology.
Meanwhile, the company also reports that its robust research and development team is intensifying its efforts in developing Class I systems to maintain its competitive edge and meet the growing demand driven by increased regulations and restrictions. To enhance its market leadership and improve the customer experience, LPC has also incorporated components into its existing laser products that enhance AI and IoT capabilities. The company also plans to offer on-site customer support and training with AI and IoT integration, further distinguishing itself from competitors.
LPC is in discussions to expand its distribution network and establish strategic partnerships with large distributors to ensure broader access to its cutting-edge technology. The company seeks partners who support onshoring component and equipment manufacturing in the United States. Additionally, LPC has opened a new location in Maitland, Florida, to serve as its customer experience center. This facility will provide an enhanced presentation and demonstration of LPC technology to customers while also freeing up space at its R&D center to ramp up production capabilities.
The global blasting market is projected to grow to $12 billion by 2025, and as more industries rely on laser technology, companies like LPC may benefit from rising demand. By staying at the forefront of industry advancements, Laser Photonics has established itself as a reliable and safety-oriented partner, providing cutting-edge solutions that cater to a global customer base.
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Benzinga
COMTEX_445339715/2655/2023-12-22T09:16:44
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