Laser Photonics To Supply CleanTech Laser Cleaning Technology to E.S. Fox Limited for Use at Bruce Power

Rhea-AI Summary

Laser Photonics (NASDAQ: LASE) announced a significant order from E.S. Fox for its CleanTech 500-CTHD laser cleaning system, intended for use at Bruce Power in Ontario, the largest nuclear power plant in North America. The decision involved active participation from Bruce Power's employee unions, emphasizing the technology's safety and environmental benefits.

This collaboration aims to set a precedent for other nuclear facilities, promoting the shift from traditional abrasive cleaning methods to advanced laser cleaning. The CleanTech system requires no chemicals, reduces health risks, and minimizes waste, aligning with Bruce Power's Vacuum Building Outage program slated for April 2024, which involves periodic safety inspections and maintenance.

Positive

• Laser Photonics secured a significant order for its CleanTech 500-CTHD laser cleaning system from E.S. Fox
• The order is for use by Bruce Power, North America's largest nuclear power plant, indicating a major industrial application.
• Active involvement from Bruce Power's employee unions showcases strong internal support and collaboration.
• The CleanTech system's environmental and safety benefits are highlighted, promoting safer and greener maintenance practices.
• The technology reduces the need for chemicals, minimizes waste, and lowers health risks for operators.
• Bruce Power's adoption of CleanTech aims to set a standard for other nuclear facilities to follow suit.
• The system will be utilized during Bruce Power’s Vacuum Building Outage program starting in April 2024, aligning with critical maintenance and safety operations.

Negative

• The PR does not mention the financial terms of the order, leaving investors uninformed about the monetary impact.
• There is no information on how this order affects the overall revenue or profitability of Laser Photonics.
• Potential risks associated with the implementation of new technology in critical nuclear operations are not addressed.
• Details on the operational challenges and any required adjustments for Bruce Power and E.S. Fox are missing.

Insights

Tech Expert

Laser Photonics Corporation supplying its technology to Bruce Power highlights a significant shift in the nuclear power industry's maintenance practices. Traditionally, nuclear facilities use abrasive blasting methods, which pose environmental and health risks due to secondary waste and chemical use. Laser Photonics' CleanTech system, however, employs laser cleaning that is both environmentally friendly and safer for workers. This technology selectively removes layers without damaging the underlying material and requires no chemicals, thus reducing health risks and secondary waste.

From a technical perspective, this move indicates an early adoption of advanced laser technology in a highly regulated and safety-first industry. It underscores Bruce Power's commitment to innovation and safety, potentially setting a trend for other nuclear facilities. The implication for investors is that Laser Photonics could see increased demand for its products in the nuclear sector, which could positively impact its revenue streams and market position.

Market Research Analyst

The decision by Bruce Power to opt for Laser Photonics' CleanTech laser cleaning system can be seen as a strategic move with significant market implications. The nuclear power industry, known for its stringent safety and environmental standards, provides a valuable endorsement for Laser Photonics. This could open doors for additional contracts in the nuclear sector and beyond, as other industries with similar maintenance needs may follow suit.

Moreover, the involvement of employee unions in the decision-making process highlights the system's acceptance at both the management and labor levels. This is important for broader adoption, as it suggests that the technology meets rigorous safety and operational criteria, making it easier for other companies to justify similar investments. For retail investors, this could signal a positive outlook for Laser Photonics' market expansion and growth.

Financial Analyst

Financially speaking, the order from E.S. Fox Limited for Bruce Power represents a tangible revenue stream for Laser Photonics Corporation. Such orders can positively influence LPC's revenue, possibly resulting in millions in sales, depending on the scale and scope of the implementation. This deal also enhances LPC’s reputation and credibility within the industrial sector, potentially leading to future contracts and partnerships.

In the short term, investors might see a positive bump in LPC's stock price due to the announcement. In the long term, it positions LPC favorably within the nuclear power industry, known for its stability and long-term projects. Investors should monitor for subsequent contracts, as they would cement LPC’s foothold in this new market and provide sustained revenue growth.

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, announced today that it received an order for its CleanTech 500-CTHD laser cleaning system from E.S. Fox Limited for use by Bruce Power in Ontario, Canada, the operator of the largest functioning nuclear power plant in North America. The Power Workers' Union and The Society of United Professionals, the power company’s two employee unions, were both active participants in the decision-making regarding the purchase.

“Our laser cleaning technology is a clear choice for nuclear industry enterprises, as it provides a practice that is safe for the environment and workers, which is the primary reason that the environmentally conscious and socially responsible E.S. Fox, Bruce Power and the two power company labor unions chose our laser systems for operations,” said Wayne Tupuola, CEO of Laser Photonics. “For Bruce Power, the unions and E.S. Fox, one of the specifically stated objectives in purchasing our CleanTech system is to set an example for other nuclear power plants and unions who have not yet made the move to use next-generation laser equipment.”

Bruce Power has deliberately chosen to be an industry early adopter, recognizing that laser cleaning contributes to safer and more efficient maintenance at nuclear facilities. They strongly desire to encourage others in the industry to make the change from traditional abrasive blasting methods to laser cleaning systems, which allow for selective layer stripping while causing no damage to the substrate and underlying material. Cleaning with LPC’s CleanTech laser systems requires no chemicals or additives, minimizing secondary waste and reducing health risks for operators.

E.S. Fox’s Nuclear Services division has contributed millions of hours in support of Ontario’s nuclear power industry, providing clients such as Bruce Power with streamlined solutions for detailed engineering, procurement, fabrication, construction and maintenance. Having purchased the laser system on behalf of the company, E.S. Fox will train and collaborate with Bruce’s employee unions and members in using LPC’s CleanTech system during Bruce Power’s Vacuum Building Outage (VBO) program, which began in April 2024. The program temporarily removes all four of Bruce B’s nuclear operating units from service for refurbishment to ensure that required maintenance and inspection work can be carried out safely and successfully by the power company and its partners.

Vacuum buildings are unique to Bruce Power’s generating stations and are part of its robust safety system, providing an additional protective barrier to the release of radioactivity to the environment. All four operating units must be shut down approximately once every decade to allow for these vacuum building inspections and maintenance.

For more information about the CleanTech line of laser cleaning systems, please visit https://www.cleantechlaser.com/ or contact our sales department at fiberlaser@laserphotonics.com.

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 E.S. Fox, Ltd.

Established in 1934 as a small plumbing and heating company, today E.S. Fox Limited is recognized as Canada’s preeminent multi-trade industrial, commercial, institutional and energy constructor and fabricator. E.S. Fox Limited works in the sectors of oil and gas, petrochemical, mining, pulp and paper, steel, automotive, nuclear, power generation, pharmaceutical, casinos, hotels, hospitals, schools, and themed entertainment, providing environmentally conscious, socially responsible engineering, procurement and construction (EPC) services.

About Bruce Power

Bruce Power is an electricity company based in Bruce County, Saugeen Ojibway Nation Territory, Ontario. Its 4,200 employees are the foundation of its accomplishments and are proud of the role they play in safely delivering clean, reliable nuclear power to families and businesses across the province and cancer-fighting medical isotopes around the world. Formed in 2001, Bruce Power is a Canadian-owned partnership of TC Energy, OMERS, the Power Workers’ Union and The Society of United Professionals. It is Canada’s only private sector nuclear generator, annually producing 30 per cent of Ontario’s power.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240514087329/en/

Investor Relations Contact:

laser@haydenir.com

Contact:

Karla Kizzort

Marketing Specialist

Laser Photonics Corporation

kkizzort@laserphotonics.com

Source: Laser Photonics Corporation

FAQ

What recent order did Laser Photonics (LASE) receive?

Laser Photonics received an order for its CleanTech 500-CTHD laser cleaning system from E.S. Fox for use at Bruce Power.

What is the significance of Bruce Power using Laser Photonics' technology?

Bruce Power's use of Laser Photonics' CleanTech system highlights a shift towards safer, environmentally friendly cleaning methods in the nuclear industry.

When will Bruce Power begin using the CleanTech system?

Bruce Power will begin using the CleanTech system during its Vacuum Building Outage program starting in April 2024.

What are the environmental benefits of the CleanTech 500-CTHD?

The CleanTech 500-CTHD reduces the need for chemicals, minimizes secondary waste, and lowers health risks for operators.

Why did Bruce Power choose the CleanTech laser cleaning system?

Bruce Power chose the CleanTech system for its safety, efficiency, and environmental benefits, aiming to set an industry standard.