23 June 2010


StockerYale changes name to ProPhotonix

StockerYale Inc of Salem, NH, USA, which designs and manufactures LED systems and diode-based laser modules for OEMs (as well as distributing laser diodes for Opnext, Sanyo and Sony), has changed its name to ProPhotonix Ltd to reflect its focus on optics technology for both LED systems and diode-based lasers. The firm’s stock market ticker symbol will also be changed in due course.

“Following last year's sale of the company’s North American operations, combined with our increased focus on leveraging our LED technology into new, much larger markets not previously addressed by the company, we believe adopting a new name and brand identity is a logical next step in our growth strategy,” says chairman & CEO Mark W. Blodgett.

“The new name gives customers, suppliers, and investors a clearer definition of what we do and the direction we intend to pursue,” he adds. “While the StockerYale brand is well known in the machine vision industry, it does not clearly reflect that we are a technology company, developing and manufacturing unique LED and laser module products for the medical, defense and industrial markets.”

As part of its growth strategy, ProPhotonix aims to leverage its chip-on-board LED technology to develop a range of new products (such as LED light engines) to address large, growing markets in the medical and illumination sectors (including architectural, entertainment and industrial lighting). Recent data suggests the market opportunity for LEDs in general illumination is forecast to grow rapidly over the next five years. Worldwide energy efficiency targets and government mandates are driving expectation that LEDs will capture a rapidly increasing percentage of the illumination fixture market (about $100bn in 2009). ProPhotonix is focused on niche segments in this broad market.

ProPhotonix also aims t o continue to strengthen its position in the machine vision market. The firm is in the final development stages for the commercial launch of its new InViso line of diode-based lasers, which contains features to streamline installation and alignment.

The firm is also seeking opportunities to make strategic acquisitions and to form joint ventures in the LED space.

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