Applied Energetics appoints Dr. David Spence as chief product officer

TUCSON - Applied Energetics, Inc. (OTCQB:AERG) has appointed Dr. David E. Spence as Chief Product Officer, the ultrashort pulse laser technology company announced Wednesday. The company, currently valued at $427.5 million, has seen its stock surge over 200% year-to-date, according to InvestingPro data.

Dr. Spence brings more than 25 years of experience in the development and commercialization of advanced laser technologies. He previously held leadership positions at Spectra-Physics, Newport Corporation, and MKS Instruments, where he led teams developing ultrashort pulse laser systems and related technologies.

An Optica Fellow with over a dozen patents and numerous scientific publications, Dr. Spence holds a Ph.D. in Laser Physics from the University of St. Andrews and a B.Sc. in Physics from the University of Stirling.

"David’s leadership is expected to strengthen our ability to translate breakthrough science into scalable, mission-ready solutions for our defense and commercial customers," said Chris Donaghey, CEO of Applied Energetics, according to the company’s press release.

In his new role, Dr. Spence will focus on aligning the company’s engineering capabilities with customer requirements to develop products for laser applications.

Applied Energetics specializes in fiber-based ultrashort pulse laser technologies with applications in both defense and commercial markets. The company holds 26 patents with 6 pending, focusing on systems that can be integrated into defense platforms. While currently showing a negative EBITDA of $11.16 million, the company maintains a strong gross profit margin of 48%.

In other recent news, Applied Energetics, Inc. announced the formation of an Audit Committee and a Compensation Committee within its Board of Directors. This move aligns the company’s corporate governance with the requirements of the Securities Exchange Act of 1934 and the standards of the OTCQB market. Additionally, the company appointed Brigadier General (Retired) Samuel "Luke" Peterson to its Advisory Board. Peterson brings extensive military experience, having managed acquisition programs with budgets exceeding $3 billion. Furthermore, Applied Energetics successfully demonstrated its prototype Pulsed Laser Air Defense (PLAID) system. The system neutralized cameras on four drones in just four seconds, marking a significant milestone in its development program. These recent developments highlight the company’s ongoing efforts to enhance its governance, advisory capabilities, and technological advancements.

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