Synova to license Laser MicroJet Technology to end users and equipment manufacturers
Synova has unfolded a strategic business model allowing select partners to license its proprietary Laser MicroJet technology. While the company will continue to develop, sell and service its own Laser MicroJet-based products, equipment manufacturers spanning various industries will now be able to integrate Synova's Laser MicroJet modules into their own tools, and end users will be able to integrate these modules directly into their production lines. By creating a network of strategic channel partners, this licensing model will facilitate a new revenue stream for the company, as well as to position Synova's technology in additional global markets and applications. It will also enable an immediate increase in production, service and distribution capacity, allowing the company to focus more deeply on serving customers in its core industries.
Under the new model, Synova will offer non-exclusive licensing of its Laser MicroJet module for integration into both end-user and equipment manufacturer systems. Under the terms of end-user licensing agreements, the module is available for purchase royalty free. Modules are also available to equipment manufacturers under a prefixed, royalty-based licensing agreement. To encourage long-term collaboration, the agreements will also encompass technology and knowledge transfer. Synova representatives will work closely with licensees to ensure effective integration of the Laser MicroJet to help them maintain optimal process flexibility for their end customers.
"Synova has evolved tremendously in the last decade since our founding. We've moved from building credibility and awareness of our technology to now solving our biggest challenge yet: how best to satisfy the explosion of demand for Laser MicroJet in so many diverse markets and application areas," said Synova's chief executive officer, Bernold Richerzhagen. "This move to expand our infrastructure through strategic licensing agreements is a critical part of our growth strategy to serve Laser MicroJet users on a global scale. We look forward to working closely with our licensing partners to ensure integration into their systems and manufacturing lines."
Synova's Laser MicroJet has been successfully validated in a production environment. Aside from the performance results achieved by combining a laser beam and water jet, another key technology factor attracting broad market interest is the Laser MicroJet's flexible and easily adaptable process for a wide range of applications.
