ProPhotonix Subsidiaries Adopt Parent Name
SALEM, N.H., Nov. 24, 2010 — ProPhotonix Ltd., formerly StockerYale Inc., has announced that its subsidiaries, StockerYale and Photonic Products, will now trade under the ProPhotonix name and be united under a new corporate website. The company designs and manufactures LED arrays and light engines, produces laser modules and distributes laser diodes for industrial OEMs, medical and defense markets.
The new name and website reflect the company’s focus on optics technology for LED and laser systems, line-scan illumination and laser diodes, strengthening the expertise of the two subsidiaries.
ProPhotonix’s strategy is to capitalize on its reputation, knowledge and proprietary technology in the LED light engine and diode-based laser space. LED technology, based on high levels of energy efficiency when compared with alternative lighting sources, such as incandescent, fluorescent and high-pressure sodium, represents a large market opportunity for LED technology over the next five years.
According to Strategies Unlimited, LED lighting represents <3 percent of the ~$100 billion global lighting fixture market and is expected to increase significantly as a result of new government regulatory policies, improved energy efficiency and businesses’ desire to enhance their “green” credentials.
Leveraging its core technology and know-how, the company intends to penetrate this market by providing LED components into the architectural, commercial and industrial light fixture industry, which is currently estimated to be worth approximately $1.5 billion and forecasted to double by 2012.
ProPhotonix’s website reflects the new brand and business strategy. The company currently is publicizing the new name and promoting its next generation of machine vision products at the Stuttgart Vision Show.
For more information, visit: www.prophotonix.com
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