ORLANDO, FL / ACCESSWIRE / November 30, 2023 / Laser Photonics Corporation (NASDAQ:LASE), a leading global industrial developer of CleanTech laser systems for laser cleaning and other material applications, today provided a strategic and operational update for shareholders, including business developments, achievements, and strategic direction for 2024 and beyond.
In October, LPC acquired an exclusive license for its cold-cutting and high-power laser technologies from ICT Investments, an established closed-end, non-diversified private investment company focused mainly on the alternative energy sector. This license will enhance the capabilities of LPC's TiTAN series of laser-cutting technology and form the foundation of LPC's new SaberTech product line.
"Our company has barely begun tapping into the immense potential of the market and its technological capabilities. LPC is committed to long-term expansion, growth, and increasing stockholder value in the short and long term," said Wayne Tupuola, CEO of Laser Photonics.
Key Highlights and Recent Updates
Products
- MARLIN: LPC's entry-level proprietary laser technology focused on the maritime industry, MARLIN, is now equipped with specialized laser patterns, water-tight seals and an updated form factor to cater to customer needs at a lower price point. The company plans to further expand this product line going forward to meet the evolving needs of professionals in the shipbuilding and boat manufacturing sectors;
- DefenseTech: LPC has adapted its CleanTech and MarkStar technology for the defense and military industry, taking advantage of the significant market potential for laser cleaning and marking technology;
- SaberTech: Through the incorporation of newly licensed cold-cutting and high-power laser technology acquired from ICT Investments, LPC will morph its TiTAN series of laser-cutting systems into this new product line.
R&D
- Development of Class I Systems: LPC is intensifying its efforts in the development of Class I systems, maintaining its competitive edge and meeting the increasing demand driven by heightened regulations and restrictions;
- Enhanced AI and IoT Capabilities: To maintain its market leadership and improve the customer experience, LPC has added components to its existing laser products that boost AI and IoT capabilities to remain at the forefront of technology. The company also plans to provide on-site customer support and training with AI and IoT integration, further differentiating its competitive advantage.
Marketing
- Strategic Partnerships: LPC is in talks to expand its distribution network and facilitate greater access to its cutting-edge technology by forging strategic partnerships with large distributors, targeting strategic partners that are in favor of onshoring component and equipment manufacturing to the United States;
- Commitment to Environmental Stewardship: The company is committed to delivering eco-friendly and environmentally sustainable solutions to companies worldwide, helping industries minimize their negative environmental impact;
- Expansion of Customer Experience Center: LPC expanded into a new location in Maitland, Florida, to serve as its customer experience center. This move will enhance the presentation and demonstration of LPC technology to customers while freeing up space at its R&D center to ramp up production capabilities.
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.
Contact: Miller Cordeiro
Phone: 407-804-1000x1107
Email: mcordeiro@laserphotonics.com
SOURCE: Laser Photonics Corp.
View source version on accesswire.com:https://www.accesswire.com/811687/laser-photonics-corporation-provides-strategic-and-operational-updates
