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Share Name | Share Symbol | Market | Type |
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Laser Photonics Corporation | NASDAQ:LASE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.13 | 2.49% | 5.35 | 5.29 | 5.35 | 5.57 | 4.90 | 5.18 | 683,531 | 21:37:29 |
Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, announced today that it received an order for its CleanTech 500-CTHD laser cleaning system from E.S. Fox Limited for use by Bruce Power in Ontario, Canada, the operator of the largest functioning nuclear power plant in North America. The Power Workers' Union and The Society of United Professionals, the power company’s two employee unions, were both active participants in the decision-making regarding the purchase.
“Our laser cleaning technology is a clear choice for nuclear industry enterprises, as it provides a practice that is safe for the environment and workers, which is the primary reason that the environmentally conscious and socially responsible E.S. Fox, Bruce Power and the two power company labor unions chose our laser systems for operations,” said Wayne Tupuola, CEO of Laser Photonics. “For Bruce Power, the unions and E.S. Fox, one of the specifically stated objectives in purchasing our CleanTech system is to set an example for other nuclear power plants and unions who have not yet made the move to use next-generation laser equipment.”
Bruce Power has deliberately chosen to be an industry early adopter, recognizing that laser cleaning contributes to safer and more efficient maintenance at nuclear facilities. They strongly desire to encourage others in the industry to make the change from traditional abrasive blasting methods to laser cleaning systems, which allow for selective layer stripping while causing no damage to the substrate and underlying material. Cleaning with LPC’s CleanTech laser systems requires no chemicals or additives, minimizing secondary waste and reducing health risks for operators.
E.S. Fox’s Nuclear Services division has contributed millions of hours in support of Ontario’s nuclear power industry, providing clients such as Bruce Power with streamlined solutions for detailed engineering, procurement, fabrication, construction and maintenance. Having purchased the laser system on behalf of the company, E.S. Fox will train and collaborate with Bruce’s employee unions and members in using LPC’s CleanTech system during Bruce Power’s Vacuum Building Outage (VBO) program, which began in April 2024. The program temporarily removes all four of Bruce B’s nuclear operating units from service for refurbishment to ensure that required maintenance and inspection work can be carried out safely and successfully by the power company and its partners.
Vacuum buildings are unique to Bruce Power’s generating stations and are part of its robust safety system, providing an additional protective barrier to the release of radioactivity to the environment. All four operating units must be shut down approximately once every decade to allow for these vacuum building inspections and maintenance.
For more information about the CleanTech line of laser cleaning systems, please visit https://www.cleantechlaser.com/ or contact our sales department at fiberlaser@laserphotonics.com.
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit https://www.laserphotonics.com.
About E.S. Fox, Ltd.
Established in 1934 as a small plumbing and heating company, today E.S. Fox Limited is recognized as Canada’s preeminent multi-trade industrial, commercial, institutional and energy constructor and fabricator. E.S. Fox Limited works in the sectors of oil and gas, petrochemical, mining, pulp and paper, steel, automotive, nuclear, power generation, pharmaceutical, casinos, hotels, hospitals, schools, and themed entertainment, providing environmentally conscious, socially responsible engineering, procurement and construction (EPC) services.
About Bruce Power
Bruce Power is an electricity company based in Bruce County, Saugeen Ojibway Nation Territory, Ontario. Its 4,200 employees are the foundation of its accomplishments and are proud of the role they play in safely delivering clean, reliable nuclear power to families and businesses across the province and cancer-fighting medical isotopes around the world. Formed in 2001, Bruce Power is a Canadian-owned partnership of TC Energy, OMERS, the Power Workers’ Union and The Society of United Professionals. It is Canada’s only private sector nuclear generator, annually producing 30 per cent of Ontario’s power.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240514087329/en/
Investor Relations Contact: laser@haydenir.com
Contact: Karla Kizzort Marketing Specialist Laser Photonics Corporation kkizzort@laserphotonics.com
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