“Luna Innovations is improving the way composite materials are tested and validated for peak performance and safety, and customers are starting to embrace our technology,” Chung said.About Luna Innovations Luna Innovations Incorporated ( www.lunainnovations.com) focuses on sensing and instrumentation. Luna develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. The company's products are used to measure, monitor, protect and improve critical processes in the markets it serves. Through its disciplined commercialization business model, Luna has become a recognized leader in transitioning science to solutions. FORWARD-LOOKING STATEMENT This release includes information that constitutes "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements regarding, but not limited to: the uniqueness of Luna’s technological capabilities, product capabilities, market acceptance, technological attributes, advantages and applications, and customer use. Statements that describe the company's business strategy, goals, prospects, opportunities, outlook, plans or intentions are also forward-looking statements. Actual results may differ materially from the expectations expressed in such forward-looking statements as a result of various factors, including technological challenges in specific applications and risks and uncertainties set forth in the company's periodic reports and other filings with the Securities and Exchange Commission. Such filings are available at the SEC's website at http://www.sec.gov, and at the company's website at http://www.lunainnovations.com. The statements made in this release are based on information available to the company as of the date of this release and Luna Innovations undertakes no obligation to update any of the forward-looking statements after the date of this release
Luna Innovations Incorporated (NASDAQ: LUNA) today launched the latest distributed fiber optic sensing platform that is 20 times faster and half the cost of its previous ODiSI (Optical Distributed Sensor Interrogator) instrument. The ODiSI B model provides greater insight into the performance, tolerances and failure mechanisms of composite structures and vehicles. With thousands of sensing locations on a single optical fiber, the technology lets customers know what’s happening inside a composite structure during manufacturing and testing. “One of our key growth strategies is to become the leading provider of sensing systems for testing composite materials,” said My Chung, CEO of Luna Innovations. “Last year we introduced our ODiSI platform to address this market. Based on customer feedback, we’ve developed an upgraded product that offers much faster measurement speed at half the price of our previous platform. Luna is committed to evolving our solution to respond to the needs of the composite market, particularly for new aircraft and wind turbines.” The ODiSI B introduction comes as total demand for composites is growing; with global composite material shipments projected to reach $29.9 billion by 2017. First introduced in August 2011, the ODiSI product line supports the exacting standards of the aerospace, automotive, energy and other composites industries where high-density strain or temperature measurements are required for structural or mechanical testing. Luna’s ODiSI platform provides a number of advantages over traditional strain gages. It uses low-cost optical fiber to provide unprecedented sensor density, with hundreds of measurement locations per meter of fiber. The fiber is small, rugged and easy to install, while the glass structure of the fiber makes it ideal for fatigue testing under high strain as needed with composite materials. While a normal strain gage has one sensing point per channel and requires multiple connections per sensed location, Luna’s sensing solution provides thousands of measurement points per fiber with one connection for all of these sensors. Luna’s ODiSI B provides these benefits with a per-sensor cost well below that of traditional foil gages.