Renishaw Submits Long Term Contract for LightPath's High Precision Glass Molding Technology
ORLANDO, FL / ACCESSWIRE / August 2, 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, today announced that it
was selected by Renishaw plc (RSW), a United Kingdom-based world leader in metrology technology and products, to continue its
partnership as the designated supplier of two types of glass molded lenses for Renishaw's RESOLUTETM optical encoder products. Certain details pertaining to the long term contract including
program value and production quantities were not disclosed. The substantial contract from Renishaw has secured its high volume
production requirement from LightPath for the next three years.
Jim Gaynor, President and Chief Executive Officer of LightPath, commented, ''The contract from Renishaw was awarded through a
continuing collaboration with our distribution partner AMS Technologies. AMS Technologies, as Europe's leading solution provider
and distributor for optical, power and thermal management technologies, has joined forces with LightPath for its advanced precision
molded optical lens capabilities to develop mass market and proprietary products for Renishaw and other international customers. We
are pleased to continue to be recognized for our world class capabilities for precision, high volume optical technologies.''
RESOLUTETM is a true-absolute, fine pitch optical encoder system that has excellent dirt immunity, and an impressive
specification that breaks new ground in position feedback. It is the world's first absolute encoder capable of 1 nm resolution and
speeds up to 100 m/s for linear systems, and 32-bit resolution up to 36,000 rev/min for rotary systems. The product's ultra-low
Sub-Divisional Error and jitter result in a linear encoder system that outperforms any other encoder in its class.
About AMS Technologies:
AMS Technologies is a leading solution provider and distributor of high-tech, leading-edge components, systems and equipment,
with more than 30 years of experience to date and currently serving more than 2000 European customers.
About Renishaw:
Renishaw is one of the world's leading engineering and scientific technology companies, with expertise in precision measurement
and healthcare. The company supplies products and services used in applications as diverse as jet engine and wind turbine
manufacture, through to dentistry and brain surgery. It is also a world leader in the field of additive manufacturing (also
referred to as metal 3D printing), where it designs and makes industrial machines which ''print'' parts from metal powder.
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 coated 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 advanced coating
technologies.
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:
Devin Standard
Vice President of Corporate Development
LightPath Technologies, Inc.
Tel: 407-382-4003
dstandard@lightpath.com
Investor Relations:
Jordan Darrow
Darrow Associates, Inc.
Tel: 512-551-9296
jdarrow@darrowir.com
SOURCE: LightPath Technologies, Inc.
