Salem, NH--StockerYale, Inc., which designs and manufactures LED systems and diode-based laser modules for OEMs, today announced that it has changed its name to ProPhotonix Limited, with immediate effect. In accordance with the change of name the company's ticker (previously Pink Sheet OTC: STKR) will be changed in due course.
"Following last year's sale of the company's North American operations combined with our increased focus on leveraging our LED technology into new, much larger markets not previously addressed by the company, we believe adopting a new name and brand identity is a logical next step in our growth strategy," said Mark W. Blodgett, chairman and CEO of ProPhotonix.
"The new name gives customers, suppliers, and investors a clearer definition of what we do and the direction we intend to pursue. While the StockerYale brand is well known in the machine-vision industry, it does not clearly reflect that we are a technology company, developing and manufacturing unique LED and laser module products for the medical, defense, and industrial markets."
Growth strategies
ProPhotonix plans to use its chip-on-board LED technology to develop a range of new products (such as LED light engines) to address large, growing markets in the medical and illumination sectors, including architectural, entertainment, and industrial lighting. Recent data suggests the market opportunity for LEDs in general illumination is forecast to grow rapidly over the next five years. ProPhotonix is focused on niche segments in this broad market where it believes its technology will provide compelling value.
ProPhotonix also plans to continue to strengthen its position in the machine-vision market. The company is in the final development stages for the commercial launch of InViso, its new line of diode based structured-light lasers.
The company will also look for opportunities to make strategic acquisitions and to form joint ventures in the LED space.
See www.prophotonix.com.
John Wallace | Senior Technical Editor (1998-2022)
John Wallace was with Laser Focus World for nearly 25 years, retiring in late June 2022. He obtained a bachelor's degree in mechanical engineering and physics at Rutgers University and a master's in optical engineering at the University of Rochester. Before becoming an editor, John worked as an engineer at RCA, Exxon, Eastman Kodak, and GCA Corporation.