Orders Leverage Company's Expertise in Precision Glass Molding and Diamond Turning for Visible Light Products and
Infrared Lenses Made from BD6™ and Germanium
ORLANDO, FL / ACCESSWIRE / October 11, 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 it has been awarded 4 orders totaling $759,000
for a variety of precision molded optics (visible light spectrum) and infrared (IR) optics from 3 different defense
contractors/electronics original equipment manufacturers (OEMs).
LightPath's optics are integral components in products with exacting standards. The OEMs placing orders with LightPath will be
manufacturing missile systems with electro-optical guidance capabilities, hand-held and weapon-mounted infrared night vision
sights, and next generation IR cameras with an industry-leading compact size (small pixel pitch format). IR optics will be made
from LightPath's proprietary Black Diamond 6™ (BD6™) infrared material as well as the more traditional germanium raw material.
Visible light optics (also referred to as precision molded optics or PMO) will be made from traditional glass material which will
be molded and finished.
"The LightPath brand is now more than ever being recognized as the world's leading vertically integrated supplier for all
optical technology requirements. We are experiencing strong demand for our products from multiple vertical markets," said Jim
Gaynor, President and Chief Executive Officer of LightPath. "The defense market has been a solid contributor to our business mix as
industry players globally are increasingly relying on enhanced light and sensory technologies. The orders announced today are from
domestic and foreign defense contractors, both new and existing customers. Their supply agreements involve lenses selected from our
IR and PMO product families which are made from a variety of substrate materials where we have deep domain expertise. Manufacturing
of these products will take place in our facilities in the U.S. and Latvia, with deliveries expected to begin immediately through
the next 12 months."
The Defense sector is one of 6 vertical end markets addressed by LightPath. The other markets include Catalogs/Distributors,
Industrial, Medical, Telecommunications/Networking, and Commercial. Customers in each of these markets may now select the best
optical technologies that suit their needs from LightPath's entire product family lines, including IR optics (BD6 and
germanium-based lenses) and PMO lenses. LightPath is well positioned as a highly diversified optical technology provider offering a
selection of materials, production methods and manufacturing locations. Cost competitive delivery of optical components and
assemblies are being facilitated by the significant investments LightPath has made in diamond turning, molding technology, coating
capabilities, and staffing in its locations around the world.
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
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.
