Laser Photonics Announces Initiative to Drive Expansion of Service Partner Network

Rhea-AI Summary

Laser Photonics Corporation (NASDAQ:LASE) announced the expansion of its Service Partner Network (SPN) program aimed at driving growth through strategic alliances. This initiative enables individual business owners to start laser cleaning businesses with support from LPC, providing access to financing and sales leads. In 2022, LPC originated financing agreements with 12 service partners, generating over $1 million in sales. The company aims to add 5 to 10 new partners in 2023, particularly in sectors like automotive and aerospace. Additionally, LPC emphasizes its commitment to social responsibility by offering competitive financing and equipped vans for new partners.

Positive

• Projected addition of 5 to 10 new service partners in key markets in 2023.
• Successful originations of financing agreements with 12 service partners in 2022, leading to over $1 million in sales.
• Program allows business owners access to high-quality leads and services, fostering business growth.

Negative

• None.

ORLANDO, FL / ACCESSWIRE / March 9, 2023 / Laser Photonics Corporation (NASDAQ:LASE) ("LPC"), a leading global developer of industrial CleanTech laser systems for laser cleaning and other materials applications, today announced the expansion of its Service Partner Network (SPN) program.

Wayne Tupuola, chief executive officer of Laser Photonics, commented, "The SPN is an integral part of our growth strategy, enabling strategic alliances with individuals and companies that will help drive our long-term growth objectives. Today's announcement includes the formation of an internal team dedicated to supporting this program and enabling our state-of-the-art product portfolio to reach potential customers more quickly. By enabling entrepreneurs to provide a vast array of services to the industries we serve, both on a domestic and international basis, we believe we can speed adoption of our world-class products."

The SPN is a fast-track way for individual business owners and small companies to start a new and exciting laser cleaning business with support from LPC. SPN Members benefit from access to financing for LPC equipment, high quality leads and sales opportunities for services and LPC equipment. Members have access to a vast array of entrepreneurial opportunities including providing laser cleaning services in the corrosion, rust and oxide removal, coating and overspray, grease and rust, and the marine boat industry. Applications can include biofilm and graffiti removal, mold and commercial grill cleaning, among others.

LPC projects an additional 5 to 10 new service partners in major markets and key locations near automotive, aerospace, shipbuilding, nuclear and military facilities in 2023.

In 2022, LPC originated financing agreements with 12 service partners, leading to over $1 million in sales of CleanTech products. Its partners also helped close an additional $1.5 million in sales through sampling and on-site customer demos coordinated by LPC's inside sales team.

Laser Photonics is committed not only to our green cleaning technology, but also to our social responsibility. The Service Partner Network is a fantastic opportunity for families looking to start a new business backed by a leading manufacturer. The program provides interested parties with competitive financing options and ready-built Mercedes-Benz Sprinter vans packed with all the gear needed to start a mobile laser cleaning business.

For more information about the CleanTech line of roughing, conditioning, and finishing laser systems and other CleanTech laser cleaning systems or information on our Service Partner Network, please visit: https://www.laserphotonics.com/lp-service-partners-network or contact our sales department at fiberlaser@laserphotonics.com.

Cautionary Note Concerning Forward-Looking Statements

This press release contains "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company's plans, prospects, potential results and use of proceeds. These statements are based on current expectations as of the date of this press release and involve several risks and uncertainties, which may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, those described under the caption "Risk Factors" in the Registration Statement. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable laws or regulations.

About Laser Photonics Corporation

Laser Photonics is a vertically-integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. LPC 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. LPC's new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental, and regulatory issues associated with the old methods. As a result, LPC 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 LPC's "unique-to-industry" systems. For more information, visit www.laserphotonics.com.

Investor and Public Relations Contact:

Brian Siegel, IRC, MBA
Senior Managing Director
Hayden IR
Brian@haydenir.com

SOURCE: Laser Photonics Corp.

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https://www.accesswire.com/742894/Laser-Photonics-Announces-Initiative-to-Drive-Expansion-of-Service-Partner-Network

FAQ

What is the purpose of Laser Photonics' Service Partner Network (SPN)?

The SPN aims to drive growth by forming strategic alliances with business owners to start laser cleaning services, providing them with financing and sales opportunities.

How many new service partners does Laser Photonics plan to add in 2023?

Laser Photonics plans to add 5 to 10 new service partners in major markets in 2023.

What financial impact did Laser Photonics' service partners have in 2022?

In 2022, Laser Photonics' service partners contributed to over $1 million in sales through financing agreements.

What industries can benefit from the services offered by the Service Partner Network?

The SPN supports services in industries such as automotive, aerospace, shipbuilding, and military, focusing on applications like corrosion and rust removal.