Investors may want to keep an eye on the laser cleaning, and related stocks, such as Laser Photonics Corporation (NASDAQ: LASE), Coherent Inc. (NASDAQ: COHR), IPG Photonics Corporation (NASDAQ: IPGP), Lumentum Holdings (NASDAQ: LITE), and nLIGHT Inc. (NASDAQ: LASR). The market, estimated to be worth $588.8 million in 2018 could be worth $723.9 million by 2023, according to Reportlinker.com. “The growth of the laser cleaning market is because of the preference toward laser cleaning over traditional approach and the increasing demand for laser cleaning in various applications. However, high cost and lack of technical expertise are restraining the growth of the laser cleaning market.”
Look at Laser Photonics Corporation (NASDAQ: LASE), For Example
Laser Photonics Corporation, a leading global industrial developer of high-tech laser systems for laser cleaning, and other materials applications, today announced the closing of its underwritten initial public offering of 3,000,000 shares of common stock priced at a public offering price of $5.00 per share for gross proceeds of $15,000,000, before underwriting discounts and commissions. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares of its common stock.
The shares began trading on September 30, 2022, on the Nasdaq Capital Market under the ticker symbol “LASE.”
The Company intends to use the net proceeds of this offering primarily for general corporate purposes, including working capital, operating expenses and capital expenditures.
“Our IPO represents a major milestone in our strategy to disrupt the $46 billion global industrial market for removing rust and other materials,” said Wayne Tupuola, chief executive officer of Laser Photonics. “Historically, extremely hazardous, dangerous and environmentally destructive abrasives and techniques such as sandblasting have been used for these applications. With our CleanTech LaserBlasting technologies, we offer products with superior performance to customers in a cost-effective and environmentally sustainable way to accomplish their MRO goals.
“Today, government entities such as OSHA and the EPA and labor unions have recognized the harmful impact on workers and the environment and are now applying pressure on companies that continue to use these out-of-date technologies. With our “Made in America” products, we believe we can offer superior alternatives to traditional abrasives, driving our financial performance and creating shareholder value over the long term.
“In conclusion, we have a rare opportunity to participate and lead the market for laserblasting, an opportunity that could last decades. We believe a perfect storm is brewing given the technological advancements, the regulatory and labor environment and access to the capital markets, and we look forward to capitalizing on this opportunity.”
Laser CleanTech Laser Blasting products address the corrosion needs of multiple industries, including automotive (e.g., Daimler); manufacturing (e.g., Coca-Cola); shipbuilding and maritime (e.g., Norfolk Naval Shipyard); space exploration and aerospace (e.g., NASA); heavy equipment (e.g., Caterpillar); nuclear decommissioning and energy; oil and gas; medical; and aerospace.
Other related developments from around the markets include:
Coherent Inc., a leader in optical communications transceivers, announced that its 400G ZR+ QSFP-DD-DCO transceiver has won the 2022 ECOC Exhibition Industry Award for Optical Integration. The 400G ZR+ transceiver’s high transmit output power of 0 dBm enables true IP-over-DWDM deployments in metro and regional optical transport networks, eliminating an entire layer of optical equipment and thereby significantly reducing both capital and operational expenditures for network operators.
IPG Photonics Corporation reported financial results for the second quarter ended June 30, 2022. “Strong sales in North America and Japan drove our revenue growth as we focus on opportunities that diversify our revenue across key geographies and applications, including e-mobility and medical,” said Dr. Eugene Scherbakov, IPG Photonics’ Chief Executive Officer. “IPG’s innovative solutions are generating increased laser adoption in welding applications, primarily in electric vehicle manufacturing, but also in general automotive and industrial applications with continued adoption of the LightWELD in handheld applications. We reached a significant milestone as revenue from welding applications surpassed high power cutting revenue in a number of key geographies. We are also seeing higher demand across many emerging growth products that help diversify our exposure across different applications, such as medical, battery welding and foil cutting applications.”
Lumentum Holdings, a market-leading designer and manufacturer of innovative optical and photonic products, announced the publication of its fiscal 2022 Corporate Social Responsibility (CSR) report, highlighting the company’s environmental, social, and governance practice and achievements. “We have made tremendous progress toward achieving our ambitious CSR goals, and I am thrilled to share our accomplishments with the publication of our fiscal 2022 CSR report,” said Lumentum President and CEO Alan Lowe. “As a leader in the optics and photonics industry, we believe it is our responsibility to take actions toward a low-carbon tomorrow. I am proud that Lumentum is contributing to a brighter future for all of our stakeholders.”
nLIGHT Inc., a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, announced that US Senators Maria Cantwell (D-WA) and Patty Murray (D-WA) visited nLIGHT’s Camas, Washington, headquarters. “nLIGHT is honored to have hosted Senators Cantwell and Murray to celebrate the passage of the historic CHIPS and Science Act. This legislation is a critical component to the future health and security of the high-tech industry in the United States,” commented Scott Keeney, nLIGHT’s Co-Founder, President and Chief Executive Officer. “Senators Cantwell and Murray have been longtime supporters of advanced research and development of high-tech manufacturing here in Southwest Washington and across the United States. We owe them a great deal of gratitude for their leadership in securing the passage of this important bill.”
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