LightPath Introduces MANTIS, The Company's First Multispectral Camera System

ORLANDO, FL / ACCESSWIRE / December 21, 2022 / LightPath Technologies, Inc. (NASDAQ:LPTH), ("LightPath" or the "Company"), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared technologies, introduces MANTIS the company's first Multi-Spectral Infrared Camera System.

Multi-spectral cameras allow users to reduce the number of cameras and lenses needed for any infrared imaging use. Currently, users typically use uncooled long wave cameras (LWIR), and cooled mid wave cameras (MWIR), the later having high costs and shorter lifetime due to the complex cooling requirements. LightPath's uncooled multi spectral camera images in both the midwave range, and the long wave ranges simultaneously, without the complicated, heavy and expensive cooling system needed today, yet with the advantages that come from imaging in mid wave. With fewer lenses and cameras, the thermal imaging solution's total cost, weight, and size is dramatically reduced.

LightPath's President and Chief Executive Officer Sam Rubin stated, "MANTIS represents a leap-forward in technology both for LightPath Technologies and for the market for thermal imaging. It also serves us as proof of our strategy to move up the value-chain to producing optical solutions, based on key differentiating technologies. The new, first of its kind camera leverages our proprietary Black DiamondTM glass materials and specifically is made possible through the use of the new materials we licensed last year from NRL. These materials enable the multispectral functionality and allow us to use our proprietary fabrication technologies and coatings to achieve the very broadband performance, in a small and light weight form factor."

Thermal cameras are a $6.7 billion market today and expected to grow to $8.8 billion in 2026[1]. Of which, LightPath believes this solution can address nearly half of the applications in this market.

"With the introduction of MANTIS LightPath Technologies gains access to a huge market where our product provides a unique, compelling value proposition. This is part of the evolution LightPath is going through, and a major step in our new Strategic direction," LightPath Technologies CEO Sam Rubin continued.

About LightPath Technologies:

LightPath Technologies, Inc. is a leading global, vertically integrated provider of optics, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries. LightPath designs and manufactures proprietary optical and infrared components including molded glass aspheric lenses and assemblies, custom molded glass freeform lenses, infrared lenses and thermal imaging assemblies, fused fiber collimators, and proprietary Black DiamondTM ("BD6") chalcogenide-based glass 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 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.

Investor Contact:

Brian M. Prenoveau, CFA
MZ Group - MZ North America
LPTH@mzgroup.us
+561 489 5315

[1] Yole Intelligence: Thermal Imagers and Sensing 2022

SOURCE: LightPath Technologies