NUBURU Enters Medical Device Market with Order from European Manufacturer
NUBURU has received a purchase order from Blueacre Technology, a European medical device manufacturer, for its BlueScan solution. The blue laser technology will be used for precision welding in medical devices, leveraging its ability to work with various metals and reduce heat damage. This move expands NUBURU's market focus beyond electric vehicles to include medical devices, a sector worth $6 billion. The order follows NUBURU's Phase II contract with NASA to advance blue laser power transmission technology for space applications.
- NUBURU received a purchase order from Blueacre Technology for its BlueScan solution.
- The company's blue laser technology will be used for precision welding in medical devices.
- NUBURU's entry into the $6 billion medical device market could open new revenue streams.
- The blue laser can work with copper, aluminum, titanium, and stainless steel.
- NUBURU's technology addresses the need for a high-speed, low-defect manufacturing process.
- Successful Phase II contract with NASA for blue laser power transmission technology.
- No specific financial details or order value were disclosed in the press release.
- Potential risks include dependence on new market segments for revenue growth.
- Unproven long-term success in the medical device market may pose challenges.
NUBURU's entrance into the medical device market with its BlueScan solution signifies a strategic diversification. While NUBURU is known for its high-power blue laser technology primarily in the electric vehicle and electronics sectors, this move into medical devices could open up a $6 billion market, according to AMPOWER 2022. A key financial implication is the potential for increased revenue streams from a new sector. The choice of Blueacre Technology, a reputable manufacturer, as a partner indicates a strong market entry strategy.
However, investors should be cautious about the timeline for revenue realization. Transitioning into a new market often involves initial investment and operational adjustments, which might impact short-term profitability. Moreover, the competition in the medical device industry is intense and NUBURU will need to demonstrate not just technological superiority but also regulatory compliance and market adaptability.
The application of NUBURU's blue laser technology in medical device manufacturing is noteworthy. The blue wavelength light's ability to reduce heat input and minimize heat damage is particularly valuable in medical device manufacturing, where precision and maintaining the integrity of sensitive materials are critical. This could lead to higher quality medical devices with fewer defects, which is a significant advantage in a market where product reliability is paramount.
This technology can potentially revolutionize the manufacturing process for various medical devices by improving efficiency and precision. Nonetheless, the company's success will depend on its ability to scale this technology effectively and ensure that it meets stringent regulatory standards for medical devices.
Secures Purchase Order for BlueScan Solution from a European Medical Device Manufacturer
The order is a natural extension of the Company’s market focus in the electric vehicle industry, next-generation computers, consumer electronics and communication (3C) device manufacturing, and medical devices. The NUBURU blue laser addresses the need for a non-contact, high-speed process with low-to-no defects for manufacturing batteries and electric vehicles by replacing slower methods like ultrasonic and resistance welding, which represent multibillion-dollar equipment spent today due to their high cost of operations. It can work with copper, aluminum, titanium, and stainless steel, facilitate the manufacture of electric vehicle batteries, and address the tens of thousands of welds in an electric vehicle.
David Gillen, Managing Director and owner of Blueacre Technology commented: “Blue wavelength light is absorbed better by metals than infra-red sources. Blue, therefore, reduces the heat input into the material, reducing the risk of heat damage to critical medical components. We are excited to add blue lasers to our range of equipment.”
Brian Knaley, CEO of NUBURU commented: “Our focus remains on providing world-class solutions to our customers’ most challenging processes. These solutions are critical when welding disparate materials in a precision environment like medical device manufacturing. Blueacre will prove to be a world class partner in this important market segment of medical device manufacturing which is indicatively worth
The purchase order for NUBURU's BlueScan solution by Blueacre Technology follows a successful Phase II contract award by the National Aeronautics and Space Administration ("NASA") through its Small Business Innovation Research ("SBIR") to advance blue laser power transmission technology as a unique solution to dramatically reduce the size and weight of the equipment needed for Lunar and Martian applications.
About NUBURU
Founded in 2015, NUBURU, Inc. (NYSEAM: BURU) is a developer and manufacturer of industrial blue lasers that leverage fundamental physics and their high-brightness, high-power design to produce faster, higher quality welds and parts than current lasers can provide in laser welding and additive manufacturing of copper, gold, aluminum and other industrially important metals. NUBURU’s industrial blue lasers produce minimal to defect-free welds that are up to eight times faster than the traditional approaches — all with the flexibility inherent to laser processing. For more information, please visit www.nuburu.net.
About Blueacre Technology
Blueacre Technology was founded in 2005 to provide contract manufacturing solutions to the Medical Device industry. Its world-leading laser micromachining capability allow it to provide its global customers with high quality micro-devices and sub-assemblies in aa range of both metals and polymers. For more information, please visit https://blueacretechnology.com
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including relating to its partnership with GE Additive. All statements other than statements of historical fact contained in this press release may be forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “seek,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. Forward-looking statements in this press release include, among other things: anticipated benefits associated with laser-based additive manufacturing. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by NUBURU and its management, are inherently uncertain and many factors may cause the company’s actual results to differ materially from current expectations which include, but are not limited to: (1) the ability to continue to meet the security exchange’s listing standards; (2) failure to achieve expectations regarding its product development and pipeline; (3) the inability to access sufficient capital to operate as anticipated, whether from Lincoln Park Capital Fund, LLC or other sources; (4) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (5) changes in applicable laws or regulations; (6) the possibility that NUBURU may be adversely affected by other economic, business and/or competitive factors; (7) volatility in the financial system and markets caused by geopolitical and economic factors; (8) failing to realize benefits from the partnership with GE Additive; and (9) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in NUBURU’s most recent periodic report on Form 10-K or Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. NUBURU does not give any assurance that it will achieve its expected results. NUBURU assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by applicable law.
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Investor Relations:
David Kugelman
Atlanta Capital Partners
dk@atlcp.com
Source: NUBURU, Inc.
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