Tucson-based laser and optical technology developer looks to scale with headquarters expansion
A Tucson-based company that develops innovative laser and optical technology is adding to its space at the University of Arizona’s UA Tech Park in anticipation of continued growth.
Applied Energetics Inc. (OTCQB: AERG) is adding an 8,300-square-foot facility to its footprint at the same building where its 13,000-square-foot headquarters is already located, and it has the option to lease about 5,500 more square feet of space down the road. The company said its existing space is compliant for international traffic in arms regulations and laser safety.
The company first moved its headquarters to UA Tech Park in 2021.
The expansion will accommodate increased research, product development, training, testing, evaluation and production activities at the site, the company said.
“This expansion represents an exciting milestone for our Tucson facility and supports our long-term strategy to scale our operations, invest in our infrastructure, and execute on our strategic plans to be a leader in the development of directed energy technologies,” said Dr. Gregory Quarles, president and CEO at Applied Energetics, in a statement.”We have been fortunate to be able to access the Tucson area’s world-class talent and the business support and infrastructure provided by UA Tech Park. We look forward to the continued growth of our workforce here as we advance our program activities with our customers.”
Applied Energetics develops systems not only for aerospace, defense, industrial and scientific customers. The company has said it holds all crucial intellectual property rights to the development and use of laser guided energy and related technologies.
In June 2022, the company announced that it had received a two-year $3.89 million grant from the U.S. Navy’s Office of Naval Research to develop and test infrared technology as part of an ultrashort pulse laser system — with an aim toward making the technology capable of withstanding harsh conditions that U.S. Marines encounter in the field.
The company said at the time that it had been working for a while to develop the directed energy technology to give the military a technical advantage, and said the grant award demonstrated its commitment to that mission.
On Wall Street, Applied Energetics stock was down slightly for the day, but its share price of $2.33 was up about 24% year to date. Track the stock here.
The UA Tech Park in south Tucson, UA Tech Park at the Bridges and the UArizona Center for Innovation incubator are directed by Tech Parks Arizona. It is one of Arizona’s largest economic development organizations and has a mission to grow new businesses and launch companies in alignment with UArizona research goals.