Laser Photonics Inks Deals With Brokk, Fastenal And ISL To Bring Its Laser Technology To More Markets
Detroit, Michigan
|
June 21, 2024 08:35 AM Eastern Daylight Time
By Meg Flippin, Benzinga
From removing contaminants and cleaning corrosion to marking and engraving material, Laser Photonics Corporation (LPC) (NASDAQ: LASE) and its laser-based solutions are changing the way industry professionals work. The company's prowess has been on full display this year, with the Orlando, Florida-based company forging key strategic alliances that should position it for growth as it continues to expand.
The laser-processing market was valued at $20.64 billion in 2022 and is expected to hit $44.02 billion by 2032 according to Precedence Research.
Laser Photonics Corporation stands out in the laser industry space thanks to its next generation of leading-edge laser blasting technologies and equipment that the company says is precise, non-abrasive, eco-friendly, and FDA CDRH-certified. LPC’s technology also addresses the health, safety, environmental, and regulatory issues associated with currently used industrial processes, which is why it continues to gain Fortune 1000 companies in the aerospace, automotive, defense, energy, maritime, and space industries as clientele.
Next Up: Robotic Lasers
Laser Photonics recently announced a technology partnership with Brokk Inc., a leading manufacturer of remote-controlled robotic machines. The two are teaming up to bring laser technology to the mining, tunneling, construction, metal processing, military, nuclear disposal and decommissioning industries.
"Our technology is a perfect match for the dynamic and complex jobs that Brokk machines undertake daily, and we are proud to have forged a technology partnership with the company," said Wayne Tupuola, CEO of LPC. "In this collaboration with Brokk, we stand at the intersection of automation and laser technology, pushing limits and providing operators with cutting-edge machines that help them streamline operations."
Through the partnership, LPC and Brokk are aiming to change the way professionals work. Integrating LPC laser cleaning and cutting technology into Brokk's remote-controlled robots will enable operators to handle heavy jobs in dangerous settings more effectively and safely – whether it's decommissioning a nuclear plant or tunneling in a mine.
"This technological partnership between Brokk and Laser Photonics translates to their laser cutting and surface cleaning technology being a valuable new addition to our state-of-the-art arsenal," said Brokk's Executive Vice President for Nuclear, Military, Security and Rescue, Tony Marlow.
"Our brand is committed to providing reliable and safe remotely operated systems, and we look forward to equipping our robots with cutting-edge lasers. By collaborating with LPC, we continue to distinguish ourselves as the leader in our market while expanding our capabilities,” Marlow said.
New Market Opportunities
The partnership with Brokk Inc alone presents a big opportunity, but it's not the only recent partnership Laser Photonics has made. LPC recently entered into a distribution agreement with the Fastenal Company (NASDAQ: FAST) – the largest fastener distributor in North America and a leading distributor and provider of industrial technology and products – for its CleanTech line of laser systems. With LPC's laser cleaning technology, users can remove surface contaminants by directing a focused laser beam onto a targeted area to ablate unwanted material. It removes rust and corrosion while leaving the underlying substrate intact.
As part of the distribution deal, LPC gets access to Fastenal's global distribution network and will benefit from the company's service model, which centers on approximately 3,300 locations, each supporting its local customer base. Laser Photonics says the partnership gives LPC access to one of the most robust and well-equipped distribution networks in the world.
"This agreement will increase our customer base and expand our distributor network while equipping Fastenal with cutting-edge industrial laser solutions that its clients have been demanding," said Tupuola when announcing the distribution agreement earlier this year. "We look forward to building on this new relationship and providing world-class laser systems to an even larger audience."
Initially, several products will be offered through Fastenal, including Laser Photonics' CleanTech Handheld LPC-50-CTHD Laser Cleaning System, its CleanTech Blaster Cabinet LPC-50-CTBC Laser Cleaning System and its MarkStar Handheld LPC-20-MSH Laser Engraving System, among others.
Troy Parkos, Regional VP of the Wisconsin area for Fastenal, said earlier this year that the company receives a lot of inquiries from clients about laser technologies, including laser cleaning systems. "Our extensive distribution network and ability to deliver, paired with the cutting-edge technology of Laser Photonics, makes this the ideal partners
Courting the Defense Industry
Those two announcements are just the start for Laser Photonics as the company continues to build out its strategic network and partnerships. LPC recently announced that they entered into a distribution agreement with Incredible Supply & Logistics (ISL) – an award-winning product distribution, mission kitting and third-party logistics company that is specialized in supporting federal government customers and defense contractors as well as serving the maritime and space communities.
This partnership will help LPC expand its distributor network while equipping ISL with the cutting-edge industrial laser solutions that its government and defense clients have been demanding. This will serve to increase LPC's presence in the defense industry, which the company has continued to grow.
ISL and Laser Photonics have even gone as far as co-hosting an exhibit booth at The Technology Showcase in Norfolk Naval Shipyard (NNSY), which took place in May. The annual event was hosted by NNSY in partnership with the National Center for Manufacturing Sciences (NCMS), providing a platform for contractors and civilians to demonstrate or seek out innovative technologies and prospective solutions for the maritime industry.
At the show, Laser Photonics and ISL presented a selection of laser systems, and LPC was able to demonstrate how its products can help with rust control, corrosion control and coating removal, optimizing MRO processes and streamlining inventory maintenance. Laser Photonics also highlighted its full portfolio of industrial-grade laser systems for material processing.
Featured photo by Milind Kaduskar on Unsplash.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.
Contact Details
Benzinga
+1 877-440-9464
Company Website
