Luna Wins Major Order for THz Solutions for Battery Manufacturing
August 02 2023 - 8:30AM
Business Wire
Completes transfer of production to Atlanta
facility
Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in
advanced fiber optic and Terahertz (THz)-based technology, today
announced that it has won a large, new purchase order for its THz
sensing solution for application in automotive electric vehicle
(EV) battery production. In efforts to keep pace with the growing
demand for these solutions, Luna is also announcing completion of
the transfer of production of THz solutions to its Atlanta, Georgia
facility where it expects to achieve four times greater
capacity.
“With electric mobility fast becoming the cornerstone of our
global transportation landscape, the demand for reliable and
efficient EV batteries has reached unprecedented heights,” said
Scott Graeff, President and CEO of Luna Innovations. “Our THz
solutions represent a major step forward for in-line, real-time
measurement of critical thickness and density parameters during
production. We are very pleased to announce our progress with this
major win and the associated transfer of production to our rapidly
growing Atlanta facility.”
Luna’s THz sensing technology utilizes electromagnetic waves
between microwaves and infrared light that can be used to measure
multi-layer thickness and density of opaque materials. THz waves
are intrinsically safe and non-destructive making their use ideal
for real-time monitoring of multi-layer industrial processes like
those found in the production of EV batteries.
With high-speed measurements of moving samples, high precision
thickness measurements of single and multi-layer material
structures, multiple communication protocols and I/O options, dual
parallel optical channels for multiple simultaneous measurements in
either reflection or transmission, and a powerful and
user-friendly, application-oriented software platform, Luna’s model
5600 “T-Ray” is the industries’ only THz solution purpose built for
industrial application.
The recent significant order for new units produced in Atlanta
is for delivery throughout the remainder of 2023.
About Luna
Luna Innovations Incorporated (www.lunainc.com) is a leader in
optical technology, providing unique capabilities in
high-performance, fiber optic-based, test products for the
telecommunications industry and distributed fiber optic-based
sensing for a multitude of industries. Luna’s business model is
designed to accelerate the process of bringing new and innovative
technologies to market.
Forward-Looking Statement
The statements in this release that are not historical facts
constitute “forward-looking statements” made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
Luna’s expectations regarding a customer order and related sales,
technological capabilities, industry trends, market opportunities
and demand, customer relationship and operational efficacy related
to its technology and/or products. Management cautions the reader
that these forward-looking statements are only predictions and are
subject to a number of both known and unknown risks and
uncertainties, and actual results, performance, and/or achievements
of Luna may differ materially from the future results, performance,
and/or achievements expressed or implied by these forward-looking
statements as a result of a number of factors. These factors
include, without limitation, changes in customer and market needs
and technological challenges, competitive forces and other risks
and uncertainties set forth in Luna’s periodic reports and other
filings with the Securities and Exchange Commission (“SEC”). Such
filings are available on the SEC’s website at www.sec.gov and on
Luna’s website at www.lunainc.com. The statements made in this
release are based on information available to Luna as of the date
of this release and Luna undertakes no obligation to update any of
the forward-looking statements after the date of this release.
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Investor Contact: Allison Woody Luna Innovations
Incorporated Phone: 540.769.8465 Email: woodya@lunainc.com
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