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By David Willey, Benzinga
Read the latest report on Laser Photonics here.
The development of new technology causes constant disruptions across industries, as people develop more and better ways to be efficient, save costs, and protect the environment. Laser Photonics (NASDAQ: LASE), an industrial laser technology developer and manufacturer, is producing a variety of industrial lasers that are made to drive efficiency in the industrial cleaning sector.
Dealing with the cost of rust and corrosion is expensive in the U.S. economy, and annual costs incurred add up to an estimated $276 billion across industries. Big contributors include the oil and gas industry, which alone spends $14 billion on rust corrosion control according to Laser Photonics. Meanwhile, the Department of Defense spends $20 billion on corrosion control and material applications, according to its latest available report.
Traditional methods of coping with rust and corrosion generally involve abrasive cleaning, like sandblasting. Sandblasting involves blowing a stream of sand particles at the surface of the object. However, this method is labor intensive, requiring both time-consuming preparation and cleanup of material. It can also often be imprecise and risks damaging the object being cleaned. The same is true of two other traditional cleaning methods, dry ice blasting and chemical cleaning.
Laser Photonics products can drastically reduce the cost of cleaning, as they are efficient and don’t involve time-consuming cleanup. These lasers generate a high-powered beam that can deploy with great precision and avoid damaging the substrate being cleaned.
Laser Photonics’ Efficient, Cost-Effective Laser Systems
Laser Photonics touts its line of CleanTech lasers as offering key advantages over traditional, abrasive cleaning methods for industrial cleaning, corrosion control, paint removal, and more. The lasers, which cost between $50,000 and $350,000, deliver a high-energy laser beam that cleans surfaces easily and quickly. The lasers require little maintenance, and the company claims its products have a 15-year depreciation compared to five years for other laser systems.
By cutting time in setup and cleanup, these lasers can cut use time in half compared with abrasive cleaning methods. Vincent Galiardi, the CEO of a surface cleaning company that uses Laser Photonics products, said: “As people become more aware of laser-based systems and compare them to traditional methods, they need to factor in prep and cleanup time, which can significantly impact project cost. When the improved operator safety, equipment longevity and lower maintenance of laser systems are also considered, the clean laser technology has a much higher ROI.”
Laser Photonics is integrating the Internet of Things (IOT) to look to make its lasers the most efficient solution in the industry. This upgrade will allow the company to track its key performance indicators (KPIs) and enhance the value production of its lasers.
The company is also rolling out its next generation of utility-grade lasers this year, to serve utility companies dealing with the costs of an aging electrical system. CEO Wayne Tupola commented on the plans, “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.”
The efficiency offered by Laser Photonics’ products is why companies across a range of industries, like aerospace, automotive, defense, energy, and maritime, use its lasers. With over 35 years of experience in the industry, Laser Photonics has built a robust customer base that includes numerous Fortune 500-1000 customers, as well as different government sectors.
Also involved in the laser industry are companies like Lumentum Holdings Inc. (NASDAQ: LITE), CyberOptics Corp. (NASDAQ: CYBE) and IPG Photonics Corp. (NASDAQ: IPGP).
Interested in learning more about Laser Photonics’ cutting-edge technology? Visit its website.
This article was originally published on Benzinga here.
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.
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Contact Details
Brian Siegel, IRC®, M.B.A. Senior Managing Director Hayden IR
Company Website
https://www.laserphotonics.com/
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