PRINCETON, N.J., Oct. 16 /PRNewswire-FirstCall/ -- Laser Energetics, Inc. (Pink Sheets: LNGT.PK) is pleased to announce the Company's new, all solid- state Alexandrite laser technology, "BrightStar,(TM)" has been selected by the US Army as the technology of choice for a near term "remote sensing "application in detecting chemical warfare agents.
The BrightStar(TM) laser technology was down-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.
As a result of this decision, Laser Energetics anticipates a near term contract to produce a proof-of-concept laser that meets a set of specific requirements for this "remote sensing" application.
Laser Energetics recently announced Patent filings (PCT/US06//015339) with the US Patent office encompassing this new all solid-state type of Alexandrite laser which the Company has named the BrightStar(TM) Alexandrite laser. This Alexandrite laser incorporates a DP Nd:YAG laser pump as its excitation source, to efficiently and reliably create tunable Alexandrite laser light that is deliverable in IR, UV or Deep UV wavelengths.
Laser Energetics believes its BrightStar(TM) Alexandrite laser technology, in its various forms, has many applications on the battlefield as well as for homeland security, including detection of chemical and biological warfare agents and detection of high explosives. The potential for future sales, given the size of the market, may well be in the hundreds of millions of dollars.
"We believe that Laser Energetics is on the fast track with the development of the BrightStar(TM) Alexandrite laser". "We will continue to develop and test this product within multiple market sectors outside of the military to further the Company's near term growth," stated Robert Battis , CEO of Laser Energetics, Inc.
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 allowing these lasers to operate at 110 Volts as compared to other less efficient competitive lasers that are large and need 220 Volts to operate.
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.