Laser Photonics Corporation offers a full portfolio of integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre- and post-welding, laser cleaning, and surface conditioning. The company’s solutions span use cases throughout product lifecycles, from product fabrication to maintenance and repair, as well as aftermarket operations. The company’s laser blasting solutions are applicable in every industry dealing with materials processing, including automotive, aerospace...
Laser Photonics Corporation offers a full portfolio of integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre- and post-welding, laser cleaning, and surface conditioning. The company’s solutions span use cases throughout product lifecycles, from product fabrication to maintenance and repair, as well as aftermarket operations. The company’s laser blasting solutions are applicable in every industry dealing with materials processing, including automotive, aerospace, healthcare, consumer products, shipbuilding, aerospace, heavy industry, machine manufacturing, nuclear maintenance, and de-commissioning and surface coating.
Laser Blasting has the capacity to combat corrosion, nuclear contamination (transmutation), material surface preparation, rust removal, and equipment and engine maintenance and repair, as well as myriad number of other industrial processes, currently employing unhealthy, dangerous, and environmentally hazardous old technologies.
In contrast to abrasive cleaning, laser cleaning is a non-contact and non-abrasive process to remove contaminants or impurities on the surface of metals by physically removing the upper layer of the substrate using laser irradiation and where a desired depth can be achieved with a high degree of accuracy and throughput.
The company’s laser blasting solutions are as follows:
Handheld Laser Blasting: The company offers widest line of Class IV handheld laser blasting equipment, from 20W (watt) to 3000W system, including powerful production Laser Blaster on the market-the Jobsite 2000-to the even more powerful JobSite 3000 which debuted at Aviation Week’s MRO Americas 21 trade show at the end of April 2021. The company has under development its most powerful laser blasting equipment, its 4000W handheld system.
Laser Blasting Cabinet: This affordable and safe solution is configured as a fully enclosed Class 1 workspace, designed to replace sandblasting enclosures, along with their noise, dust, media storage, replenishment, and clean-up requirements. The Blasting Cabinet is ideal for companies of any size that use abrasive blasting or chemical baths to clean parts or prepare materials.
Class I Laser Blasting Systems: The company’s Mega Center and Titan lines of Class I Laser Blasting Systems are designed with mass production in mind. These production line-capable systems are designed with automation control and automated materials-loading capabilities to allow for maximum throughput on assembly lines for high production/high precision environments.
Robotic Laser Blasting Cells with AI: Robots are intended to lighten the workload for humans. The company achieves this with user programmable AI (UPAI) driving its C-Robots. Line workers can quickly and easily program these precision robots to complete complex and repetitive tasks in high throughput production environments.
As of December 31, 2023, the company had gross sales of $ 4,520,892 and net sales of $ 3,939,473. The company sells its products globally to end users, and principally to Fortune 1000 companies, as well as to agencies of the U.S. Government.
The company’s vertically integrated operations allow it to reduce development and laser equipment manufacturing time, control quality, and protect its proprietary knowhow and technology compared to other laser cleaning companies and companies with competing technologies.
The company markets its products globally through its direct sales force located in the United States and a few sales representatives located in Europe, Japan, and South Asia.
The company has an exclusive license agreement with ICT Investments. Under the terms of this agreement, the company has a perpetual, worldwide, exclusive license to sell the Laser Photonics branded equipment for laser cleaning and rust removal. Through the company’s affiliation with ICT, its portfolio companies, and their customers, the company has instant access to more than 1,500 high profile Fortune 5000 customer prospects in manufacturing premium laser equipment.
Market
The company’s market encompasses industrial de-painting, surface preparation, coating, and corrosion control space. This includes media blasting or sandblasting, dry ice blasting, and laser cleaning or laser blasting.
The company’s laser cleaning equipment also facilitates its customers’ compliance with the Occupational Safety and Health Administration (OSHA) and the Environmental Protection Agency (EPA) regulations to protect the health of workers using conventional abrasive blasting equipment. The current OSHA permissible exposure limit (PEL) for respirable crystalline silica (quartz) is 100µg/m3 as an 8-hour time-weighted average (TWA).
All the company’s Class I product enclosures are built and labeled to meet or exceed the guidelines established by the Food and Drug Administration’s (FDA) Center for Devices and Radiological Health (CDRH) that regulates the manufacture of radiation emitting electronic products. The CDRH does not issue certificates of compliance. Instead, the CDRH relies on a system of self-certification. That certification of compliance is based on a prescribed testing program that ensures that safety standards have been met. In accordance with HHS Publication FDA 86-8260, COMPLIANCE GUIDE FOR LASER PRODUCTS, the company follows the FDA CDRH published reporting guidelines for the testing and certification of laser products. This includes submitting required reports to CDRH, including Annual Reports summarizing required records, including product names, model numbers, and lasers medium or wavelengths. In compliance with CDRH guidelines, the company maintains records of each product produced and sold.
Market Opportunity
The company started the Service Partners Network, (or SPN), as a program to mobilize demonstration units as an outreach to better connect the customers with the technology and product. In efforts to help those interested in starting a mobile laser cleaning service or rental service as a member of the company’s Service Partners Network.
Growth Strategy
The company’s strategy is to expand its product offerings with a focus on integrated solutions that make laser blasting suitable for production applications and accessible to a broad audience. The key elements of the company’s strategy for growth include the following:
New Product Development
The company plans to target new applications early in the development cycle and drive adoption by leveraging its strong customer relationships, engineering expertise, and competitive production costs.
Multi-market and Multi-product Approach
The company plans to develop and manufacture laser systems for a variety of markets to reduce the financial impact that a downturn in any one market would have with an emphasis developing standard systems applicable for a variety of markets and applications. The company expects to increase sales through an industry recognized expertise in clearly defined markets with substantial sales demand, such as rust removal equipment for the shipbuilding industry, laser de-contamination equipment for the nuclear industry, and laser blasting cabinets for the general manufacturing industry.
Extend Distribution Channels and Reach
The company has an inside sales force actively marketing in the Americas (North, Central, and South America). In addition, the company has a network of outside sales reps in North America, as well as international representation in Europe (based in Czech Republic), Asia (based in Japan), and the Middle East and North Africa (based in UAE). The company plans to add distributors based on geographic coverage and sales capacity, as well as to develop industry-specific expertise to drive penetration in vertical markets such as automotive, aerospace, defense, energy, and manufacturing.
Promote Awareness Through Training and Education
As businesses increasingly embrace laser blasting over the next decade, the company plans to educate the market on practices for adoption of the technology across the entire product life cycle.
Pursue Strategic Acquisitions and Partnerships
The company approaches to selectively pursue acquisitions and/or equity investments in businesses that represent a strategic fit and are consistent with its overall growth strategy. Such partnerships would allow the company to accelerate market penetration of its laser blasting solutions by enabling expansion of its product portfolio, access to new markets, and a stronger value proposition for its customers.
The company also has established a base of customers among several U.S. Government agencies. Each branch of the U.S. military, including the Army, Air Force, Navy, Marines, and the Coast Guard, has purchased laser cleaning systems from the company. In addition, NASA and the Veteran’s Administration are also among its customers.
Broad Product Portfolio
The company’s diverse lines of laser cleaning equipment are used in work environments to improve and promote programs to address significant concerns about the exposure of employees to toxic airborne materials to reduce the risk of lung cancer and silicosis triggered by inhalation of crystalline silica dust released from abrasive blasting. The company offers its customers a range of solutions spanning multiple price points, throughput levels, operating environments, and technologies to enable businesses to find and use the laser blasting solution for their specific goals. The company’s broad product portfolio covers a spectrum of use cases, scaling with customer needs from entry-level, office-friendly laser blasting systems for high surface integrity finishing of components to high-end, high throughput industrial laser blasting systems for low-cost mass production applications. In addition, it eliminates the need for customers to source products for different processes from multiple vendors.
Core Technologies Underlying Each Product
Fiber laser cleaning technology or laser ablation which the company markets under the Laser Blasting brand, is a proven 21st Century replacement for hazardous 19th century abrasives blasting (or sandblasting). It is a non-contact, environmentally friendly process that removes surface coatings from metals, concrete and delicate substrates such as composites—with minimal impact on the base material. Laser Blasting works by aiming brief pulses of high-power laser energy (in the µs–ms range) at a surface to be prepared or cleaned of paint, rust, or other contaminants. The energy applied to the layer being removed doesn’t dissipate. Instead, it blasts off the substrate material being cleaned. Most or all of the materials being removed is vaporized, resulting in a much cleaner process than other cleaning methods.
Competition
The company’s most significant competitors are P-Laser and Clean-Lasersysteme GmbH (operating through the distributor Adapt Laser Systems in the United States) as well as smaller companies, including Laserax and 4 Jet.
Government Regulation
The company is subject to the laser radiation safety regulations of the Radiation Control for Health and Safety Act administered by the National Center for Devices and Radiological Health, a branch of the United States Food and Drug Administration.
The company is subject to certain regulations in Europe as administered by the European Commission. CE Marking is required for products marketed within the European Economic Area (EEA) and confirms that the manufacturer meets certain safety, health, and environmental protection requirements administered by the European Union.
Facility
On December 1, 2019, the company entered a sub-lease with ICT Investments for 5,000 sf of manufacturing space on a month-to-month basis at $4,050 per month. In January 2020, the company expanded the lease with ICT Investments to include the entire facility of 18,000 sf. In October of 2021, a direct lease was signed with the landlord for three years, terminating on October 31, 2024. The facility is currently equipped with three of its latest laser cleaning demonstration models. It includes a materials stock room, a ramp and high dock, loading and moving equipment, a machine shop, an electronics room, and an equipment assembly area. As of December 31, 2023, the monthly rent for this facility is $15,549.
In December 2022, the company entered into an agreement with 2701 Maitland Building Associates to rent 8,000 sf of additional office space nearby the main facility, for its growing sales and marketing program. As of December 31, 2023, the monthly rent for this space is $14,805.
History
Laser Photonics Corporation was founded in 2019. The company was incorporated in 2019.
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
