Driving Growth and Environmental Impact in the Evolving Landscape of Sustainable Technology
CENTENNIAL, Colo., August 08, 2024--(BUSINESS WIRE)--NUBURU, Inc. ("NUBURU" or the "Company") (NYSE American: BURU) a leading innovator in high-power and high-brightness industrial blue laser technology, is excited to announce a strategic collaboration with NUBURU and Lasers4NetZero, a visionary initiative dedicated to advancing sustainable practices.
Lasers4NetZero has entered into this partnership with NUBURU for the implementation of their transformative 42-month program, the Project Advisory Group of Lasers for Accelerated Net-zero Transition. This partnership signifies a significant step towards accelerating the adoption of environmentally conscious technologies.
ADVERTIsem*nT
The innovative training program initiated by Lasers4NetZero aims to cultivate a new generation of forward-thinking doctoral candidates specializing in laser material processing, artificial intelligence for quality control, advanced process simulation, and sustainability analysis for e-vehicles manufacturing. NUBURU's provision of Blue Lasers at the esteemed "WMG" facility at the University of Warwick underscores their commitment to driving technological innovation and sustainability in key industries.
Brian Knaley, CEO of NUBURU, emphasized, "Our collaboration with Lasers4NetZero represents a strategic alignment of our shared vision for sustainable technology advancements. Building upon our prior success with WMG and the upcoming partnership, we are poised to make significant strides in advancing laser technology for EV applications."
Acknowledging the pivotal role of artificial intelligence in driving industry transformation, NUBURU believes that they will be able to leverage insights from their recent AI partnership with NexGenAI to enhance their contributions to this innovative venture.
The Lasers4NetZero initiative has a clear mission to address the pressing need for reduced CO2 emissions in the transportation sector. By leveraging advanced laser technologies and cutting-edge scanning optics, the program aims to enhance efficiency, material utilization, and overall product quality, leading to a substantial reduction in carbon emissions in e-vehicle manufacturing.
With the global industrial laser systems market valued at $19.64 billion in 2022, estimates for the market's size in 2023 and beyond indicate significant growth potential. According to IMARC Group, the market reached $21.4 billion in 2023 and is projected to achieve a remarkable $40.4 billion by 2032. Moreover, the Industrial Lasers Market size is estimated at USD 6.06 billion in 2024, with expectations to reach USD 7.76 billion by 2029, reflecting a steady growth rate of 5.10% during the forecast period (2024-2029). Market trends and forecasts from reputable sources like IMARC Group and Mordor Intelligence underscore the evolving landscape of the industrial laser systems sector, highlighting the strategic opportunities presented by collaborations such as the alliance between Lasers4NetZero and NUBURU in driving sustainable technology advancement and industry innovation.
About NUBURU
Founded in 2015, NUBURU, Inc. (NYSE American: BURU) is a developer and manufacturer of industrial blue lasers that leverage fundamental physics and their high-brightness, high-power design to produce faster, higher quality welds and parts than current lasers can provide in laser welding and additive manufacturing of copper, gold, aluminum, and other industrially essential metals. NUBURU's industrial blue lasers produce minimal to defect-free welds up to eight times faster than the traditional approaches — all with the flexibility inherent to laser processing. For more information, please visit www.NUBURU.net.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including relating to its partnership with GE Additive. All statements other than statements of historical fact contained in this press release may be forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "plan," "seek," "targets," "projects," "could," "would," "continue," "forecast" or the negatives of these terms or variations of them or similar expressions. Forward-looking statements in this press release include, among other things: anticipated benefits associated with laser-based additive manufacturing. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by NUBURU and its management, are inherently uncertain and many factors may cause the Company's actual results to differ materially from current expectations which include, but are not limited to: (1) the ability to meet security exchange listing standards and regain listed status; (2) failure to achieve expectations regarding its product development and pipeline; (3) the inability to access sufficient capital to operate as anticipated, whether from Lincoln Park Capital Fund, LLC or other sources; (4) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (5) changes in applicable laws or regulations; (6) the possibility that NUBURU may be adversely affected by other economic, business and/or competitive factors; (7) volatility in the financial system and markets caused by geopolitical and economic factors; (8) failing to realize benefits from the partnership with GE Additive; and (9) other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in NUBURU's most recent periodic report on Form 10-K or Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. NUBURU does not give any assurance that it will achieve its expected results. NUBURU assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by applicable law.
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