Laser Photonics Announces Plans for Next Generation Utility Grade CleanTech Laser Systems

Rhea-AI Summary

Laser Photonics Corporation (NASDAQ:LASE) announced plans to expand its market for next-generation CleanTech laser systems aimed at utility applications. The CEO highlighted the need for safer and more cost-effective cleaning solutions for electrical installations, currently relying on manual methods. The new systems will reduce operational risks, offering a ground-based solution for maintenance tasks. Additionally, the integration of IoT technology is expected to allow utilities to remotely monitor key performance indicators, enhancing operational efficiency. The advancements align with addressing the challenges posed by aging infrastructure and rising electrical demands.

Positive

• Expansion into the utility market presents growth opportunities for LASE.
• Development of safer, cost-effective laser cleaning solutions for electrical installations.
• Integration of IoT solutions enhances operational efficiency for utility companies.

Negative

• None.

ORLANDO, FL / ACCESSWIRE / February 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 plans for expanding the target market for its next generation CleanTech portfolio with utility-grade lasers systems.

Wayne Tupuola, chief executive officer of Laser Photonics, commented, "With the country's aging infrastructure and increasing electrical demands, the cost of inspection and maintenance of electrical utility installations are at an all-time high. Today, the cleaning of insulators and clearing electricity lines from debris are currently carried out manually by operators using scaffolds, ropes and even helicopters. Our goal is to develop a CleanTech system specific for these utility applications, aiming to reduce the cost and risk associated with today's processes that can be safely operated on the ground, by a single technician, providing a safer, greener and more cost-effective solution to utility companies. When combined with our roadmap to integrate IoT solutions, we believe utilities will also be able to remotely monitor crucial KPIs across all business lines."

For more information about the CleanTech line of roughing laser systems and other CleanTech laser cleaning systems, please 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 for 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.

View source version on accesswire.com:
https://www.accesswire.com/738753/Laser-Photonics-Announces-Plans-for-Next-Generation-Utility-Grade-CleanTech-Laser-Systems

FAQ

What recent announcement did Laser Photonics make regarding utility-grade laser systems?

Laser Photonics announced plans to expand its target market for next-generation CleanTech laser systems designed for utility applications.

How will the new CleanTech systems impact maintenance in the utility sector?

The new systems aim to reduce costs and risks associated with current manual maintenance processes, offering ground-based operations by a single technician.

What technological enhancements are included in Laser Photonics' new CleanTech systems?

The new CleanTech systems will integrate IoT solutions, allowing utilities to remotely monitor crucial performance indicators.

What challenges is Laser Photonics addressing with its CleanTech laser systems?

The company is addressing the issues of aging infrastructure and rising electrical demands in the utility sector.