Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in
advanced fiber optic-based technology, today announced that it will
supply an industry-leading robotics company with a significant number of
its Phoenix tunable lasers. The order, valued at more than $6 million,
will be delivered over four years, with deliveries beginning this summer.
Luna’s Phoenix tunable laser was designed with systems integration in
mind and is well-suited to a wide range of fiber optic sensing
instrumentations. The Phoenix is a miniaturized, tunable external cavity
laser offering high performance in a compact footprint, which provides
improved scalability, ruggedness and speed compared to similar lasers on
the market. These features are ideal for robotics applications because
they enable the maximum precision and repeatability needed to measure
and control very fine movement.
Laser-based fiber optic sensing systems are now widely deployed across
many industries due to the benefits of optical fiber over traditional
techniques in terms of precision and scalability. Advanced robotics
increasingly relies on optical-based measurement systems as a core
component. The Phoenix laser delivers the high performance needed to
maintain maximum precision and reliability and is ideal for these
applications.
“Luna’s collaboration with an industry-leading robotics company
demonstrates how far our optical sensing technology has advanced,” said
Scott Graeff, President and CEO of Luna Innovations. “The technology has
matured to the point where it is being used in precise applications –
requiring the ultimate in performance, reliability and quality. From a
commercialization standpoint, an order of this magnitude, combined with
our existing platform, will allow us to achieve greater economies of
scale on our existing and future products.”
About Luna
Luna Innovations, Incorporated (www.lunainc.com)
is a leader in optical technology, providing unique capabilities in
high-performance, fiber optic-based, test products for the
telecommunications industry and distributed fiber optic-based sensing
for the aerospace and automotive industries. Luna is organized into two
business segments, which work closely together to turn ideas into
products: a Technology Development segment and a Products and Licensing
segment. Luna’s business model is designed to accelerate the process of
bringing new and innovative technologies to market.
Forward-Looking Statements
The statements in this release that are not historical facts constitute
“forward-looking statements” made pursuant to the safe harbor provision
of the Private Securities Litigation Reform Act of 1995 that involve
risks and uncertainties. These statements include Luna’s expectations
regarding the suitabilities, performance and capabilities of certain
products, technological advancement and the ability to achieve economies
of scale. Management cautions the reader that these forward-looking
statements are only predictions and are subject to a number of both
known and unknown risks and uncertainties, and actual results,
performance, and/or achievements of Luna may differ materially from the
future results, performance, and/or achievements expressed or implied by
these forward-looking statements as a result of a number of factors.
These factors include, without limitation, technological and
manufacturing challenges and other risks and uncertainties set forth in
Luna’s periodic reports and other filings with the Securities and
Exchange Commission (“SEC”). Such filings are available on the SEC’s
website at www.sec.gov
and on Luna’s website at www.lunainc.com.
The statements made in this release are based on information available
to Luna as of the date of this release and Luna undertakes no obligation
to update any of the forward-looking statements after the date of this
release.
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