Laser Photonics Provides Update After Successful FABTECH 2022 Trade Show

Rhea-AI Summary

Laser Photonics Corporation (NASDAQ:LASE) announced a significant pipeline expansion of $8-10 million following a successful showcase at FABTECH 2022. The company gained approximately 200 leads, with about 15% from new Fortune 500 customers and governmental entities across diverse sectors like oil & gas, military, and aerospace. The exhibition highlighted their innovative CleanTech Laser systems, including the new CleanTech Laser Blaster Cabinet, a safer alternative to sandblasting. This momentum is expected to bolster sales into 2023.

Positive

• Pipeline expansion estimated at $8-10 million from FABTECH 2022.
• Received approximately 200 leads, with 15% from new Fortune 500 and government customers.
• Showcased innovative CleanTech systems, enhancing brand visibility.

Negative

• None.

Expands pipeline by $8-10 million

ORLANDO, FL / ACCESSWIRE / November 29, 2022 / Laser Photonics Corporation (NASDAQ:LASE) ("LPC"), a leading global developer of Cleantech laser systems for laser cleaning and other material applications, today announced that the FABTECH 2022 trade show yielded significant potential sales orders from new blue chip customers.

Wayne Tupuola, CEO of LPC, commented: "This was the first trade show where we were able to showcase our new CleanTech Laser systems to current and potential customers and partners…and their level of interest was phenomenal. We received approximately 200 leads, with about 15% of them being new customers from Fortune 500, the U.S. Government and large global companies covering diverse industries, including oil and gas, military, railways, aerospace and defense OEMs, heavy equipment, marine, utilities, industrials and manufacturing and more. We conservatively estimate this expanded our pipeline for 2023 by $8 to $10 million for initial unit evaluation sales, which hopefully will lead to follow-on sales and deeper penetration within these organizations over time. I am very excited about our momentum heading into 2023."

The CleanTech line of products displayed included high-powered 3000-watt lasers for roughing, 300-watt lasers for conditioning and the recently introduced MARLIN, a marine corrosion mitigating system targeted at the global marine vessel market. Of note, LPC introduced its innovative, new CleanTech Laser Blaster Cabinet, a Class I laser safety system aimed at displacing hazardous, conventional sandblasting techniques. The CleanTech Laser Blaster cabinet is fully compliant with EPA and OSHA safety requirements and equipped with a dust and fume collector system.

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/729149/Laser-Photonics-Provides-Update-After-Successful-FABTECH-2022-Trade-Show

FAQ

What was the impact of FABTECH 2022 on Laser Photonics Corporation (LASE)?

FABTECH 2022 significantly expanded Laser Photonics' pipeline by an estimated $8-10 million through potential sales orders.

How many leads did Laser Photonics receive from FABTECH 2022?

Laser Photonics received approximately 200 leads from potential customers at FABTECH 2022.

What percentage of leads from FABTECH 2022 were new customers for LASE?

About 15% of the leads from FABTECH 2022 were from new customers, including Fortune 500 companies and governmental entities.

What new products did Laser Photonics showcase at FABTECH 2022?

Laser Photonics showcased new CleanTech Laser systems, including the CleanTech Laser Blaster Cabinet, designed to replace traditional sandblasting.

What industries are targeted by Laser Photonics' new products?

Laser Photonics' new products target diverse industries including oil and gas, military, aerospace, heavy equipment, and manufacturing.