LaserBond has entered a license agreement with a North American manufacturer of high-performance products and equipment largely used in primary industries. The license involves the supply of LaserBond® cladding equipment during FY22 providing revenue of $1.5 million, with ongoing license fees of circa $144,000 p.a. and up to approximately $670,000 p.a. in consumable sales, for a license term of 7 years. LaserBond has received numerous enquiries and is pursuing other licensing opportunities in international and domestic markets. It is confident of closing more license agreements in FY22.