IPG Photonics

#2120

Rank

$6.43B

MarketCap US

US United States

Country

Summary
IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories. It also provides erbium-doped fiber and Raman amplifiers, and integrated communications systems, which are deployed in broadband networks; and ytterbium and thulium specialty fiber amplifiers and broadband light sources. In addition, the company offers integrated laser systems; 2D compact flat sheet cutter systems and multi-axis systems; welding seam stepper and picker, a fiber laser welding tool; high precision laser systems; specialized fiber laser systems; and optical transceiver and transponder modules for interconnecting electronic equipment, including Ethernet switches, IP routers and DWDM/SONET/SDH optical transport modules within telecommunications, cable multi-system operators, and data center networking applications. It's lasers and amplifiers are also used in materials processing, communications, and medical and advanced applications. The company markets its products to original equipment manufacturers, system integrators, and end users through direct sales force, as well as through agreements with independent sales representatives and distributors. IPG Photonics Corporation was founded in 1990 and is headquartered in Oxford, Massachusetts.

History

IPG was founded in 1990 in Russia by physicist Valentin Gapontsev.Building on previous demonstrations to improve the efficiencies of fiber lasers, in 1990, Valentin Gapontsev and Igor Samartsev first proposed using fiber laser technology to produce a high power laser beam, demonstrating 2W CW Er doped fiber lasers at 1.54?m and a 5W laser in 1991. Using a side-pumping technique, Gapontsev and Samartsev's unique fiber laser architecture enabled many semiconductor laser diodes to pump through one single-mode fiber.

This created a high power, infrared laser, with single mode beam quality. This discovery also resulted in high power optical amplifiers. Optical amplifiers convert a small light signal into a powerful beam, often a thousand times brighter, but otherwise identical to the original signal. In 2018, these amplifiers are used in telecommunications and Internet networks to transmit data over optical fiber and free space.

NTO IRE-Polus

In December 1991, Gapontsev and Alexander Shestakov founded NTO IRE-Polus. The company was based in Fryazino, Russia. Shestakov left the company in 1994. Gapontsev started using the acronym IPG to refer to his company. It stood for IRE-Polus Group.In 1993, IPG won a contract with Italtel, a large Italian telecommunications carrier. IPG developed a 200 mW erbium doped amplifier for Italtel, which became IPG's first marketable product. IPG then developed erbium fiber amplifiers using a new pump design and fiber solution. In order to introduce the technology to the market, Italtel convinced Gapontsev to transfer component production to Italy. This became IPG's first European subsidiary.

In 1994, Daimler Benz Aerospace , a German company, hired IPG to create a laser-based obstacle warning system for a helicopter. DBA funded IPG's development of a new fiber laser based solution. IPG opened a manufacturing and research facility in Berlin to develop to transmitter. A year later, IPG opened a facility near Frankfurt.In 1996, IPG launched industrial-quality, diffraction-limited 10-W fiber lasers. IPG continued developing new products and selling them to customers in Japan, the United States, and Europe.

US subsidiary

In 1998, IPG established the IPG Photonics Corporation headquartered in Oxford, Massachusetts.By 2000, IPG was a $52 million company. Its customers included Alcatel, Fujitsu, Lucent, Siemens, and Marconi . During this time, IPG started developing its mutli-kilowatt diode-pumped fiber lasers.In 2000, IPG introduced a 100-W diffraction-limited fiber laser using its multi-fiber side-coupling technology. In comparison, the conventional diode-pumped solid-state lasers on the market used diode bars as the pump source, with each bar typically producing 40 W of power.By the end of 2000, capital spending by telecommunications providers was reduced and IPG revenue from communications applications declined. IPG invested much of its remaining capital in the development of: high-power industrial fiber lasers; mass production lines; and semiconductor pump laser diode technology. IPG pursued raising the maximum wattage of fiber laser technology.Between 2002 and 2003, IPG developed multi-kW industrial class fiber lasers. This was accomplished by combining the output beams of several 100-W fiber lasers.In 2006 IPG raised more than $90 million, net of proceeds, in an initial public offering. The company continued to expand, opening offices near Detroit, Michigan in 2006, Beijing, China in 2007 and its Silicon Valley Technology Center in 2010.Beginning in 2010, the company introduced its first quasi-continuous wave lasers into the market.

IPG's Oxford facility was expanded to include a new production facility in 2013.

In 2017, worldwide IPG revenue grew to $1.4 billion, a 40% increase over the previous year. In 2018 the company was added to the S&P 500 stock market index.In late 2018, IPG acquired Genesis Systems, a robotic integration company.

IPG announced the release of the LightWELD 1500, a handheld laser welding system, late in 2020.

In 2021, Valentin Gapontsev stepped down as Chief Executive Officer, retaining a position as Executive Chairman of the company. Eugene Scherbakov succeeded Dr. Gapontsev as IPG's new CEO.


Mission
IPG Photonics’ mission is to create value for our customers, shareholders, employees and partners by providing innovative products and services that meet the highest standards of quality and reliability.

Vision
IPG Photonic’s vision is to be the global leader in medium-to-high power light sources and associated products that enable our customers to realize their potential and to create sustainable solutions.

Key Team

Dr. Alexander Ovtchinnikov Ph.D. (Sr. VP & CTO)

Mr. Angelo P. Lopresti II (Sr. VP, Gen. Counsel & Sec.)

Mr. Thomas J. Burgomaster (VP, Corp. Controller, Treasurer & Chief Accounting Officer)

Eugene Fedotoff (Director of Investor Relations)

John Weaver (VP of HR Worldwide)

Mr. Trevor D. Ness (Sr. VP of Sales & Strategic Bus. Devel.)

Dr. Nikolai Platonov (Principal Scientist and Department Head)


Recognition and Awards
IPG Photonics has earned numerous awards and honors, including the Mahatma Award for Innovative Excellence, the Nobel Prize in Physics, and the National Medal of Technology and Innovation.

References
IPG Photonics
Leadership team

Dr. Eugene A. Scherbakov Ph.D. (CEO & Director)

Mr. Timothy P. V. Mammen (Sr. VP & CFO)

Mr. Felix I. Stukalin (Sr. VP, COO & Director)

Products/ Services
Electronics, Industrial Manufacturing, Laser, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Oxford, Massachusetts, United States
Established
1990
Company Registration
SEC CIK number: 0001111928
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
IPGP
Social Media
Fri Feb 23 2024
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