Laser Energetics secures $12 million to accelerate R&D

Feb. 12, 2008
February 12, 2008, Mercerville, NJ--Laser Energetics (LEI), with its focus on alexandrite laser technology, executed a financing agreement for a $12 million equity investment into the Company. The investment is priced at a substantial premium to the current market price. The investment is being made by a company with whom LEI already has an existing business relationship.

February 12, 2008, Mercerville, NJ--Laser Energetics (LEI), with its focus on alexandrite laser technology, executed a financing agreement for a $12 million equity investment into the Company. The investment is priced at a substantial premium to the current market price. The investment is being made by a company with whom LEI already has an existing business relationship.

Robert D. Battis, CEO of Laser Energetics, said, "We are incredibly excited about this development. The $12 million will give us the ability to immediately ramp up our production capacity to meet the demand for our BrightStar laser systems. It will also accelerate our research and development efforts, allowing us to bring both new technology and refinements to our existing technologies to the market in a very rapid fashion. It is unusual for a company our size to receive such a large equity investment, particularly at a premium, and we view this as validation of our business plan and our technologies."

LEI continues to develop a comprehensive and strategic laser product line that addresses applications in industry, science, medicine and the military. Its alexandrite tunable solid-state lasers are unique in that they can be conductively air cooled to compete favorably against water-cooled lasers in many applications. In addition, these lasers have one of the greatest wavelength tuning ranges with a bandwidth of over 250 nm.

For more information, visit www.laserenergetics.com.

Sponsored Recommendations

Request a free Micro 3D Printed sample part

April 11, 2024
The best way to understand the part quality we can achieve is by seeing it first-hand. Request a free 3D printed high-precision sample part.

How to Tune Servo Systems: The Basics

April 10, 2024
Learn how to tune a servo system using frequency-based tools to meet system specifications by watching our webinar!

Motion Scan and Data Collection Methods for Electro-Optic System Testing

April 10, 2024
Learn how different scanning patterns and approaches can be used in measuring an electro-optic sensor performance, by reading our whitepaper here!

How Precision Motion Systems are Shaping the Future of Semiconductor Manufacturing

March 28, 2024
This article highlights the pivotal role precision motion systems play in supporting the latest semiconductor manufacturing trends.

Voice your opinion!

To join the conversation, and become an exclusive member of Laser Focus World, create an account today!