Second Komatsu licensing agreement executed for Perth laser cladding cell
Laserbond (ASX: LBL) has signed a second licensing agreement with Komatsu, covering a second modular laser cladding cell for Komatsu’s Perth facility. Delivery is due in FY27.
The company said the Komatsu licensing agreement was executed on commercial terms comparable to the first agreement. A repeat order from a global manufacturer of earthmoving and mining equipment, at the same site, is the headline signal for investors.
The announcement does not disclose a value for the second agreement.
Key points from the announcement:
- Second licensing agreement signed with Komatsu
- Second modular laser cladding cell for the Perth facility
- First cell completed on time and on budget, and now operational
- Additional licensing contracts expected in FY27
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First cell delivered on time and on budget
Laserbond executed its first licensing agreement with Komatsu in August 2025, valued at $2.4 million. The first cell was completed on time and on budget, and site operation has commenced.
The first cell’s performance appears to have supported the repeat order, which lends weight to the licensing model. Laserbond described the second agreement as further independent validation of its technology from a global customer.
Technology segment revenue tripled from $1.1m to $3.4m in Laserbond’s FY26 full year results, the period in which the first Komatsu cell was completed, showing how quickly the licensing model has begun to register in group earnings.
Rob Freeman, Chief Executive Officer, Laserbond
“A second order from Komatsu, at the same site, shows that the first cell is delivering what we said it would. Komatsu has seen the technology working in its own operations and has chosen to expand its use…”
Komatsu also commented on the rollout.
Kelvin Walker, National Operations Manager, Komatsu Australia Pty Ltd
“Komatsu is very happy with the first laser cell installed in Perth, and the team has progressed with integrating it into our operations faster than we expected. That result gave us the confidence to commit to a second laser cell for our Perth facility.”
The table below summarises the two agreements.
| Agreement | Timing | Scope | Value | Status |
|---|---|---|---|---|
| First agreement | August 2025 | First cell, Perth | $2.4 million | Operational |
| Second agreement | Announced 15 October 2026 | Second cell, Perth | Not disclosed | Delivery due FY27 |
What laser cladding and surface engineering mean for miners
Surface engineering focuses on the outer layer of a component. Laserbond, founded in 1992, develops and applies materials, technologies and methodologies to increase the operating performance and wear life of capital-intensive machinery components.
The reasoning is straightforward. Almost all components fail at the surface, through material removal from abrasion, erosion, corrosion, cavitation, heat and impact, or a combination of these wear mechanisms.
According to the company, tailored surface metallurgy will extend a component’s life and enhance its performance. Wear can have a profound effect on the productivity and total cost of ownership of capital equipment.
For customers running high-cost equipment, that gives a clear incentive to extend component life.
The Komatsu relationship extends beyond the design, manufacture and supply of smart laser cell technology to include servicing Komatsu’s parts rectification needs.
Pipeline and what comes next
Laserbond expects additional licensing contracts in FY27. It also continues discussions with Komatsu regarding further cells in other parts of the world.
Freeman said:
Rob Freeman, Chief Executive Officer, Laserbond
“We expect this to be the second of multiple licensing opportunities with Komatsu, and our broader pipeline of licensing opportunities continues to develop.”
A repeatable licensing model offers potential for growth, though the announcement provides no revenue forecast for the second agreement or the pipeline.
The next point for investors to watch is the delivery of the second modular laser cladding cell in FY27.
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