LaserBond Limited (ASX:LBL) has signed its second technology license agreement, this time with a UK based multinational engineering company.
The agreement involves the supply of a LaserBond® designed and constructed laser cladding system, ongoing training and support and consumable sales.
Laser cladding is a high-performance additive manufacturing procedure, which uses energy from a high-power laser to metallurgically-bond a surface material (or cladding) to an underlying surface.
This provides high performance surfaces to new parts, extending their operating life.
LaserBond’s new agreement will yield an increase in revenue this financial year by more than 10% with associated overhead recovery and increase in profits.
Whilst this is a single license for UK operations for particular applications, the licensee company has several engineering divisions and supplies to a diverse range of capital intensive industries globally.
It is expected that the solutions provided by LaserBond will have many applications in other areas of the licensee’s product portfolio.
Growing global reputation of LaserBond
LaserBond chief technology officer and founder Gregory Hooper said: ‘‘This agreement with a multi-billion dollar engineering company illustrates the intrinsic value in the technology and associated intellectual property we have developed, and the growing global reputation of LaserBond as a solution provider.
“Through our R&D efforts we continue to develop the performance of the wear solutions we provide and continue to enhance the performance, automation and ease of operation of the equipment to apply such solutions.
“LaserBond has received a number of other enquiries and we are confident in the future strong growth of the Technology Division.’’