Laser Energetics Wins Contract With Major Defense Contractor
January 14 2008 - 9:20AM
PR Newswire (US)
PRINCETON, N.J., Jan. 14 /PRNewswire-FirstCall/ -- Laser
Energetics, Inc. (Pink Sheets: LNGT) announced today that the
Company has received a contract worth $481,268 from ITT Corporation
(NYSE:ITT) for a laser demonstration of an all solid state
frequency tripled Alexandrite laser using the LEI proprietary
BrightStar(TM) technology. This contract is in support of the U.S.
Army's initiative to develop an all solid-state laser for the next
generation of chemical warfare agent sensor currently being
developed by ITT. The contract follows the Army's selection of
Laser Energetics' BrightStar(TM) as the laser technology of choice
for this remote sensing of chemical warfare agents. The technology
was selected by a government panel following the panel's evaluation
of 20 different competing laser technologies from 18 laser
companies. The panel's evaluation and decision was made in part by
Laser Energetics' report on this all solid-state Alexandrite laser
and the technical advantages of this tunable laser technology over
other lasers. About Laser Energetics, Inc.: LEI has and continues
to develop a comprehensive and strategic laser product line that
addresses applications in Industry, Science, Medicine and the
Military. The Company has had a primary focus on its Alexandrite
laser technology. These 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 250nm. The company is pursuing markets that are
diverse yet can use the same laser with their compact user friendly
design. This laser technology provides a sustainable advantage over
many other lasers because of their tune-ability, conductively air
cooled operation, and their efficiency. Safe Harbor: Statements
regarding financial matters in this press release other than
historical facts are "forward-looking statements" within the
meaning of section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934, and as that term is defined
in the Private Securities Litigation Reform Act of 1995. The
company intends that such statements about the Company's future
expectations, including future revenues and earnings, technology
efficacy and all other forward-looking statements be subject to the
safe harbors created thereby. The Company is a development stage
company who continues to be dependent upon outside capital to
sustain its existence. Since these statements (future operational
results and sales) involve risks and uncertainties and are subject
to change at any time, the Company's actual results may differ
materially from expected results. DATASOURCE: Laser Energetics,
Inc. CONTACT: Laser Energetics, Inc., Investor Relations,
+1-609-587-8250, Web site: http://www.laserenergetics.com/
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