IPG Photonics Corporation (IPG) is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. The company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications, and medical applications.
IPG reports that its fiber lasers convert electrical energy to optical energy up to twenty times more efficiently than conventional technologies. The company estimates that operating its lasers over conventional lasers during a two-year period was equivalent to halting one 500MW coal-fired electric power plant’s operations for a year. IPG also notes a number of initiatives with regard to reducing the company’s direct energy, water, and waste impacts such as LED lighting upgrades in new facilities and more insulated building envelopes. In addition, IPG has strong quality management provisions in place to ensure the efficacy of its products, including a formal certification to the ISO 9001 quality standard. In terms of maintaining a strong employee base, the company performs strategic college recruitment, and offers a variety of training and educational opportunities. For example, the company offers internships and has established a dedicated Photonics Laboratory at one of the universities it partners with.
Despite some improvement initiatives, IPG lacks specific numeric targets both with respect to its environmental impacts and conflict mineral sourcing practices, limiting the company’s ability to create directed and accountable strategies on these key issues. There are also no women on IPG’s board.
Industry: Information Technology
Country: United States
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.