Laser Photonics Among Winners of NCMS CTMA Warfighter Solutions Competition

Rhea-AI Summary

Laser Photonics (LPC) (NASDAQ: LASE) was named a winner at the NCMS CTMA Warfighter Solutions Competition. The event, held at the 2024 CTMA Partners Meeting in Providence, RI, gathered over 100 leaders from government, industry, and academia. LPC, along with a team of 23 participants, developed a solution for expeditionary aircraft battle damage assessment and repair. The winning team, led by NCMS Business Development Manager Marc Sharp, received $25,000 to develop a proposal for a CTMA collaboration. CEO Wayne Tupuola highlighted the opportunity to present their sustainable laser solutions at the DOD-wide forum.

Positive

• Laser Photonics was part of the winning team at the NCMS CTMA Warfighter Solutions Competition.
• The team was awarded $25,000 to develop a proposal for a CTMA collaboration.
• The event provided an opportunity for LPC to present its next-generation, sustainable laser solutions at a DOD-wide forum.

Negative

• None.

NCMS Awards Winners $25,000 To Develop Proposal for CTMA Collaboration on Sustainment Assisting Robotics

ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, announces its award-winning participation in the Rapid Innovation Workshop at this year’s NCMS Commercial Technologies for Maintenance Activities (CTMA) Partners Meeting.

Over 100 leaders from government, industry and academia gathered for the 2024 CTMA Partners Meeting in Providence, RI, in May 2024. Focused on bringing rapid sustainment solutions to the warfighter, the Partners Meeting provides a wide-ranging roster of engaging speakers, informative panels, emerging technologies, and – most highly anticipated – the hands-on, on-the-fly technology development and integration exercise known as the Rapid Innovation Workshop, back for the second year in a row.

Workshop participants chose one of four scenarios: aircraft battle damage and repair, local parts manufacturing, advanced decision support using data streams, or predictive maintenance for electrical components. The teams had 45 minutes to develop a solution for their chosen scenario and prepare a short presentation. After viewing each presentation, participants were asked to vote on the best idea for a solution, other than their own team’s.

This year’s winning group: a team of 23 that included Laser Photonics, led by NCMS Business Development Manager Marc Sharp. The group presented a solution for Scenario 1: Expeditionary Aircraft Battle Damage Assessment and Repair. NCMS has awarded $25,000 to this team to develop a proposal for a CTMA collaboration based on its solution.

“For Laser Photonics, the Warfighter Solutions Competition at the NCMS CTMA Partners Meeting was a valuable opportunity to present our next-generation, sustainable laser solutions at the DOD-wide forum,” said Wayne Tupuola, CEO of Laser Photonics. “We are extremely proud to be part of this team and receive the award alongside other industry-leading developers.”

For the official NCMS announcement of the 2024 Warfighter Solutions Competition winners, please refer to the original statement: 2024 CTMA Partners Meeting Unites Top Industry, Academia, and Government Leaders with a Focus on Bringing Rapid Sustainment Solutions to the Warfighter - National Center for Manufacturing Sciences (ncms.org)

The Partners Meeting also featured two evening receptions to facilitate networking and showcase tabletop demonstrations by 20 industry innovators. Exhibitors delivered compelling information on their technology, while demonstrating how the technology can provide solutions for problems the DOD is currently facing.

In addition to Laser Photonics, exhibitors in attendance included Ametek Spectro Scientific, Andromeda Systems Incorporated, BlastOne International, Boston Engineering, Brighton Science, Cumulus Digital Systems, DIT-MCO, Edlore Inc., Element 119 LLC, GVS-RPB, Industrial Coating Services, Naval Systems Incorporated (NSI), One Network Enterprises, Siemens Government Technologies, Skydio, Solvus Global, ToughGuard SPC, LLC, Universal Synaptics and ZOLLER Inc.

Sponsors of this year’s Partners Meeting included Laser Photonics, Boston Engineering, Naval Systems Incorporated (NSI) and Solvus Global.

About Laser Photonics Corporation

Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics 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. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in 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 Laser Photonics’ “unique-to-industry” systems. For more information, visit https://www.laserphotonics.com.

About NCMS

NCMS is one of the largest cross-industry collaborative R&D consortiums in North America, driving innovation in commercial, defense and robotics manufacturing. CTMA is a Cooperative Agreement in partnership with the Office of the Deputy Assistant Secretary of Defense, Materiel Readiness (ODASD MR) and NCMS. Its objective is to ensure American warfighters and their equipment are ready to face any situation, with the most up-to-date and best-maintained platforms, data, and tools available.

About CTMA

With a relentless focus on defense maintenance, sustainment, and logistics, CTMA offers an agile and streamlined contracting vehicle in partnership with industry and academia to advance the development, integration, and use of commercial sustainment technologies and processes which can improve warfighter readiness. CTMA initiatives focus on reliability, improved weapon systems capability with lowered overall sustainment costs, reduced cycle time for sustainment, improved sustainer safety, efficiency, and productivity, while improving business practices and data collection/management.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240625432174/en/

Investor Relations Contact:

laser@haydenir.com

Contact:

Karla Kizzort

Marketing Specialist

Laser Photonics Corporation

kkizzort@laserphotonics.com

Source: Laser Photonics Corporation

FAQ

What award did Laser Photonics win at the NCMS CTMA Warfighter Solutions Competition?

Laser Photonics was part of the winning team and received $25,000 to develop a proposal for a CTMA collaboration.

What scenario did Laser Photonics address in the NCMS CTMA Warfighter Solutions Competition?

Laser Photonics addressed the scenario of expeditionary aircraft battle damage assessment and repair.

When was the NCMS CTMA Partners Meeting where Laser Photonics participated?

The NCMS CTMA Partners Meeting took place in May 2024.

Who led the winning team that included Laser Photonics at the NCMS CTMA Warfighter Solutions Competition?

The winning team was led by NCMS Business Development Manager Marc Sharp.

What is the stock symbol for Laser Photonics?

The stock symbol for Laser Photonics is NASDAQ: LASE.