StockerYale Announces New R&D Initiative to Develop Next Generation Specialty Fibers
Fiber Products will Target Manufacturers of Fiber Lasers and Amplifiers
SALEM, N.H.--(BUSINESS WIRE)--StockerYale, Inc. (NASDAQ: STKR - News), a leading independent provider of photonic-based products today announced an increase in investment in personnel and equipment to develop fibers for fiber lasers and amplifiers. StockerYale continues to add top industry talent to its specialty optical fiber business in order to focus on advanced development of next generation rare earth doped fibers. Richard P. Tumminelli, Director of R&D for Specialty Optical Fiber, stated, "It is well known in the fiber laser industry that most commercially available ytterbium fibers used in industrial lasers today display a phenomenon called photo-darkening where the core material darkens with usage. When fiber lasers are operated at high power, this phenomenon will ultimately undermine the laser's performance and lifetime." Based on recent scientific work conducted at the Company, Dr. Ivan Maksymyk, SOF Program Director, noted, "Research and product development will focus principally on the alleviation of this photo-darkening effect through improved core glass composition, and on the improvement of power conversion efficiency, with respect to currently available ytterbium doped fiber products."
In addition, the Company is dedicating further resources to optimize its erbium doped fiber for next generation high power amplifiers which are used in network service applications such as video, high speed internet and telephony. Concurrent with the increased R&D the Company will make additional capital investments to expand both its R&D and production capacity to address these rapidly growing market segments. Based on a recent report by Strategies Unlimited, the emerging market for fiber lasers is expected to grow by a compound annual growth rate of approximately 39%, from $131 million in 2005 to $674 million by 2010. According to Frost & Sullivan, an independent industry research firm, the fiber amplifier market is estimated to grow from $412 million in 2005 to $540 million in 2009.
"Given both the size and growth prospects for rare earth fibers, as well as the fact that there are few independent manufacturers of such fibers, StockerYale is well positioned to service these markets," stated Mark W. Blodgett, Chairman and CEO.
About StockerYale
StockerYale, Inc., headquartered in Salem, New Hampshire, is an independent designer and manufacturer of structured light lasers, LED modules, and specialty optical fibers for industry leading OEMs. In addition, the company manufactures fluorescent lighting products and phase masks. The Company serves a wide range of markets including the machine vision, industrial inspection, defense, telecommunication, sensors, and medical markets. StockerYale has offices and subsidiaries in the U.S., Canada, and Europe.
For more information about StockerYale and their innovative products, visit the Company's web site at www.stockeryale.com or contact StockerYale, Inc., at 32 Hampshire Rd., Salem, NH, 03079. Call 800-843-8011, Fax 603-893-5604, Email: .
Notice to Investors:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact, including without limitation, those with respect to StockerYale's goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uncertainty that cash balances may not be sufficient to allow StockerYale to meet all of its business goals; uncertainty that StockerYale's new products will gain market acceptance; the risk that delays and unanticipated expenses in developing new products could delay the commercial release of those products and affect revenue estimates; the risk that one of our competitors could develop and bring to market a technology that is superior to those products that we are currently developing; and StockerYale's ability to capitalize on its significant research and development efforts by successfully marketing those products that the Company develops. Forward-looking statements represent management's current expectations and are inherently uncertain. You should also refer to the discussion under "Factors Affecting Operating Results" in StockerYale's annual report on Form 10-KSB and most recent quarterly report on Form 10-QSB for additional matters to be considered in this regard. Thus, actual results may differ materially. All Company, brand, and product names are trademarks or registered trademarks of their respective holders. StockerYale undertakes no duty to update any of these forward-looking statements.