TUCSON, Ariz., Oct. 13, 2011 /PRNewswire/ -- Applied Energetics,
Inc. (NASDAQ: AERG), and Laser Light Technologies, Inc., today
announced that they have entered into a Cooperative Work Agreement
to jointly develop ultrashort pulse lasers and processes for the
laser micromachining market.
Under terms of the agreement Applied Energetics (AE) will
provide an ultrashort pulse (USP) laser to Laser Light Technologies
(LLTI) for the purpose of developing processes and methods for
conducting micromachining of a wide variety of materials.
LLTI will provide AE expertise on micromachining of materials
at AE's Laser Applications Center, and also provide feedback on the
optimization of processes for use in the development of future USP
laser systems. Additionally, LLTI will be able to sell AE's
USP lasers to their customers on a commission basis.
Joe Hayden, President of Applied
Energetics, commented, "We are very excited about this partnership
with LLTI as it will greatly expand our knowledge about what is
required within the micromachining industry, and essentially
doubles the capability of our Laser Applications Center. LLTI
is a well respected provider of laser machining services for a
broad array of industries. They were the first customer to
visit our Applications Center and their enthusiasm for the
capabilities our lasers bring to their business is very encouraging
as we expand into the commercial laser market."
Frank Hannan, President of Laser
Light Technologies, commented, "Our team looks forward to receiving
AE's USP laser and the new capabilities it will bring to our
company. The results we have seen with the initial samples
processed at the AE Application Center are very exciting. We
believe that this will allow us to expand our business into areas
we previously were unable to compete in, and benefit from the
growing market for 'cold machining' offered by USP lasers."
Phyllis Hannan, Founder of Laser
Light Technologies, also commented, "We have been impressed by the
people at AE and their enthusiasm and responsiveness to our needs.
We believe that this partnership will benefit both companies,
and that LLTI will now have the opportunity to sell lasers to
customers when they decide to bring their micromachining production
in-house."
Ultrashort pulse lasers are one of the fastest growing segments
of the laser industry. Applied Energetics' USP lasers have
higher pulse energy, shorter pulse widths and higher average power
than other USP lasers available in the commercial market, offering
industrial users the flexibility to process a wide variety of
materials at high throughput. Examples of materials already
processed at AE's Laser Applications Center include stainless
steel, quartz, glass, graphite, copper and polymer materials.
About Applied Energetics, Inc.
Applied Energetics, Inc., based in Tucson, Arizona, currently specializes in
development and manufacture of advanced high performance lasers,
high voltage electronics, advanced optical systems, and integrated
guided energy systems for defense, aerospace, industrial, and
scientific customers worldwide. Applied Energetics pioneered the
development of Laser Guided Energy(TM) (LGE(TM)) technology, and
related solutions for defense and security applications. For more
information about Applied Energetics, please visit
www.appliedenergetics.com.
About Laser Light Technologies, Inc.
Laser Light Technologies specializes in high-technology laser
micromachining services and research and development. Laser Light
Technologies contract services provide their customers with
flexible manufacturing technology to accommodate their customer's
supply chain; whether it's prefabricated parts or machining
complete parts to specification, their ability to put the customer
first has resulted in them becoming a trusted advisor for photonics
technology to market leaders in various industries across the
globe. Recognized for drilling over one billion holes per year,
Laser Light Technologies has been awarded the honor of U.S. Small
Business of the Year by President Clinton, and has been recognized
with several other awards for innovation and service. For
more information about Laser Light Technologies please visit
www.laserusa.com.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995:
Certain statements contained in this News Release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements.
Such factors include, but are not limited to: the dependence
on sales of a limited number of products and the uncertainty of the
timing and magnitude of government funding and orders, dependence
on sales to government customers; the uncertainty of patent
protection; the uncertainty of strategic alliances; the uncertainty
of management tenure; the impact of third-party suppliers'
manufacturing constraints or difficulties; management's ability to
achieve business performance objectives, market acceptance of, and
demand for, the Company's products, and resulting revenues;
development and testing of technology and products; manufacturing
capabilities; impact of competitive products and pricing;
litigation and other risks detailed in the Company's filings with
the Securities and Exchange Commission. The words "looking
forward," "believe," "may," "plan," "seek,' "strategy,"
"demonstrate," "intend," "expect," "continue," "contemplate,"
"estimate," "anticipate," "will," "likely" and similar expressions
identify forward-looking statements. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date the statement was made. Applied
Energetics undertakes no obligation to update any forward-looking
statements contained in this news release.
SOURCE Applied Energetics, Inc.