TUCSON, Ariz. — October 13, 2011– 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.