Commercial Infrared Growth Driven by Rigorous Surveillance Requirements
ORLANDO, FL / ACCESSWIRE / June 26, 2018 / LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the
"Company" or "we"), a leading vertically integrated global manufacturer, distributor and integrator of proprietary optical and
infrared components and high-level assemblies, announced today it has received an order valued at over US$600,000 from one of the
world's largest commercial video surveillance manufacturers based in Asia. The contract which will be filled over the next 12
months for thermal imaging lens assemblies includes custom-designed products made with LightPath's Black Diamond™ chalcogenide glass (BD6™).
Jim Gaynor, CEO of LightPath Technologies, commented, "We are very pleased to begin this new partnership with a market leader in
video and camera equipment as they continue to expand their market presence around the world. This large order for a new product
from our recently launched BD6™ product line reflects our ability to provide high-volume
manufacturing of high performance infrared optical assemblies at an excellent value to our customers. Moreover, our efforts
demonstrate the successful execution of our vertically integrated manufacturing strategy, creating new opportunities for broader
market applications as a result of our investments in infrared technologies that decrease our lens production costs and expand our
production capacity while maintaining world class quality. The performance of our infrared lenses are ideally suited for the
rigorous requirements of surveillance equipment and other commercial applications."
Mr. Gaynor continued, "We are seeing incredible interest in our leading infrared capabilities, particularly for our BD6™ lenses which benefit from a competitive cost advantage resulting from skyrocketing germanium
material prices. As we experience the worldwide emergence of a broad number of applications for infrared and visible light
applications, we believe few other industrial technology companies can rival our diverse product offerings in terms of our
production capacity, engineering quality and cost. Our vertical integration, including the ability to internally melt our own
chalcogenide glass for enhanced supply chain management, provides both pricing and margin benefits for LightPath which enables us
to address demand creation opportunities for new and existing customers and profitability improvements for our shareholders."
LightPath's engineering team has been collaborating with Asian original equipment manufacturers and engineers to achieve the
optimal balance of performance and cost for long wave infrared lenses. Using BD6™
chalcogenide glass, the lenses are light weight, passively athermal over a broad temperature range and are economically practical.
LightPath's advanced precision glass molding expertise and proprietary tooling techniques enable a highly repeatable process that
is scalable to high volume production.
About LightPath Technologies:
LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading global, vertically integrated provider of optics, photonics and
infrared solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath
designs, manufactures, and distributes proprietary optical and infrared components including molded glass aspheric lenses and
assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses. LightPath
also offers custom optical assemblies, including full engineering design support. The Company is headquartered in Orlando, Florida,
with manufacturing and sales offices in New York, Latvia and China.
LightPath's wholly-owned subsidiary ISP Optics Corporation manufactures a full range of infrared products from high performance
MWIR and LWIR lenses and lens assemblies. ISP's infrared lens assembly product line includes athermal lens systems used in cooled
and un-cooled thermal imaging cameras. Manufacturing is performed in-house to provide precision optical components including
spherical, aspherical and diffractive infrared lenses. ISP's optics processes allow it to manufacture its products from all
important types of infrared materials and crystals. Manufacturing processes include CNC grinding and CNC polishing, diamond
turning, continuous and conventional polishing, optical contacting and other advanced technical applications.
For more information on LightPath and its businesses, please visit www.lightpath.com.
This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in
certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels. This
information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking
statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by
LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the
federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or
obligation to update publicly any forward-looking statements, whether as a result of new information, future events or
otherwise.
Contacts:
At the Company:
Devin Standard
Vice President of Corporate Development
407-382-4003 Ext 369
dstandard@lightpath.com
Investor Relations:
Jordan Darrow
Darrow Associates
512-551-9296
jdarrow@darrowir.com
SOURCE: LightPath Technologies, Inc.
