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NEW YORK, Oct. 12, 2022 /PRNewswire/ -- According to recent data, there is an upsurge in the number of mining and construction activities in emerging nations and as a result, growth in demand for innovative mining equipment and technology. APEC member economies produce and consume roughly 70% of all mining output, including the majority of the world's copper, bauxite, iron, silver, nickel, tin, and zinc. These resources are used in a variety of applications ranging from home construction to transportation and digital infrastructure, food production, and healthcare. One example of innovative mining tech are lasers. According to mining.com utilizing lasers to drill blast holes in open pits, or for spalling (breaking) rock underground, lasers will eliminate conventional methods of drilling and blasting. Preliminary test work indicates substantial savings can be realized in time, material costs, and operating costs. Sidney Resources Corp. (OTC: SDRC), Laser Photonics Corporation (NASDAQ: LASE), IPG Photonics Corporation (NASDAQ: IPGP), Raytheon Technologies Corporation (NYSE: RTX), nLIGHT®, Inc. (NASDAQ: LASR).
The laser technology market on its own is also very divers. For example, solid lasers are the most extensively used laser type which find applications across verticals such as medical where they are used for biomedical imaging, spectroscopy, and multiphoton microscopy and for material processing applications in industrial and automotive verticals. Solid state lasers on the other hand, especially fiber lasers, are extensively used in laser-based weapon technology, thereby promoting their adoption in the defense sector. Overall, the laser technology market size is expected to grow from USD 16.7 billion in 2022 to USD 25.6 billion by 2027, registering a CAGR of 8.9% in the forecast period.
Sidney Resources Corp. (OTC: SDRC) announced back in July that it has, "reached an agreement with the prestigious Colorado School of Mines for testing of our new laser mining technology.
Founded in 1874 with specialties in mining and metallurgy, Colorado School of Mines is a public university focused on science and engineering, dedicated to educating and inspiring students, advancing knowledge, and innovating to address the great challenges society faces today-particularly those related to earth, energy and the environment. Over the years, Mines' scope and mission have expanded to meet the needs of industry and society, producing distinctive graduates and revolutionary innovations, and becoming a world leader in advancing sustainable use of the Earth's resources.
The testing of the new laser mining technology has been coordinated with the assistance of IPG Photonics and will utilize the 4 KW IPG Photonics laser housed at Mines. With the assistance of the Mines team, our engineering team will test our newly designed unit that is configured so that a variety of specialty directional laser pointing devices and their inherent custom software control are interchangeable for use in various mining operations. Testing will evaluate the ability to cut, facture, and spall various samples of geologic materials. The patent pending technology is designed for use mining operations such as explosive installation preparation, rock bolting operations, drifting, expanding raises, winzes and stope mining.
Testing at Colorado School of Mines is a major step forward Sidney Resources in their pursuit of technology that will provide tremendous value for not just Sidney Resources itself but for the mining industry as a whole with the ability to be deployed across multiple verticals. We are exploring additional transformative and disruptive technologies to expand our impact on the mining industry while reducing the impact on the environment. We are committed to protecting the environment and reducing our impact on the Anthropocene, our human centered planet, as a shared passion for our team, and look forward to building additional partnerships with institutions like Mines that shares these same values."
In addition, Sidneys leadership team has also been in contact with State and Federal contacts in leadership positions and is exploring potential partnerships on how Sidney Resources technology can be a material partner in the Energy Independence and Securities Act. These efforts are focused on job creation and energy independence through safe, clean, technology. These processes are to extract rare earth elements from known sources in a collaborate and efficient manner."
Press Here to view Sidney Resources Corp.'s Laser Test Unit.
Laser Photonics Corporation (NASDAQ: LASE) announced yesterday that it received an order from the U.S. Navy for delivery this month of an LPC-1000CTH CleanTech Laser Blasting System with an integrated water chiller for submarine MRO (maintenance, repair and operations). Wayne Tupuola, chief executive officer of Laser Photonics, commented: "We believe the U.S. Navy can benefit significantly from our CleanTech Laser Blasting systems in its $22 billion annual fight to control corrosion across the fleet. This unit will allow the Navy to develop standard operating procedures and processes for using CleanTech Laser Blasting systems for corrosion control. Over time, we hope to expand on this initial order as the U.S. Navy realizes our technology's health, safety and efficiency benefits."
IPG Photonics Corporation (NASDAQ: IPGP) announced on August 15th, that it has sold its telecom transmission product lines, comprised of optical transceivers and coherent components, to Lumentum. The divested activities include the former Menara Networks and a subsidiary in Brazil. "While we have made good progress in developing fundamental technologies in our telecom transmission business, our ability to scale these product lines would require a step-up in investment that we believe would be better spent on our core materials processing and adjacent markets. After an in-depth review, we have determined that participation in the broader telecom market is non-core to IPG's strategy. Our strategy is to remain focused on revenue diversification and growth opportunities in markets where we can increase our value proposition to customers by delivering advanced laser processing and technology solutions. We are exploring substantial new markets and applications where fiber lasers are replacing existing laser and non-laser technologies by improving efficiency, productivity, or enabling technological breakthroughs for our customers. We would like to thank our telecom transmission employees for their contributions and wish them success with Lumentum, a market leader in optical communications," said Dr. Eugene Scherbakov, IPG Photonics' Chief Executive Officer.
Raytheon Technologies Corporation (NYSE: RTX) business, Raytheon Intelligence & Space and Kord, a wholly owned subsidiary of KBR, reported back in May that it has defeated multiple 60mm mortar rounds with a 50kW-class high energy laser integrated on a Stryker combat vehicle. "Soldiers in the field face increasingly complex threats, and our combat-proven sensors, software, and lasers are ready to give them a new level of protection," said Annabel Flores, president of Electronic Warfare Systems for Raytheon Intelligence & Space. "The Army gave us our toughest challenge yet — countering rockets, artillery and mortars — and we took an essential step on the path to providing the maneuverable, short range air defense Soldiers need."
nLIGHT®, Inc. (NASDAQ: LASR) announced on April 25th, the introduction of the 2 micron fiber laser series for a diverse set of medical, industrial, scientific, aerospace and defense applications. The nLIGHT 2 micron series Continuous Wave (CW) and Quasi-Continuous Wave (QCW) fiber lasers deliver CW power up to 100 W and QCW pulsed power up to 625 W from a compact, air cooled, 48 V DC powered package. "The 2 micron series fiber lasers offers a unique combination of pulse energy and pulse modulation unattainable by legacy lasers," states Matthew Randall, Vice President and General Manager of nLIGHT's Semiconductor Laser Business. "This laser family enables our customers to scale performance and access new markets."
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