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 pricing of its underwritten initial public offering of 3,000,000 shares of common stock 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 450,000 additional shares of common stock at the offering price, less the underwriting discount.
The shares are expected to begin trading on The Nasdaq Capital Market on September 30, 2022, under the ticker symbol "LASE." The offering is expected to close on October 4, 2022, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds of this offering primarily for general corporate purposes, including working capital, operating expenses and capital expenditures.
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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