LightPath Technologies Secures Order for Thermal Imaging Assemblies for New Program with Tier-1 Defense Customer

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Sep 26, 2024, 08:31 ET

Low Rate Initial Production Order Follows Qualification for Assemblies Made with BlackDiamond™ Glass Optics

ORLANDO, Fla., Sept. 26, 2024 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading global, vertically integrated provider of thermal imaging cores, custom optical assemblies, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries, today announced receipt of a $0.5 million low rate initial production order for thermal imaging assemblies with a new tier-1 defense customer.

The optical assemblies, which have already completed qualification with the customer, utilize the Company's BlackDiamond™ Chalcogenide material, among other materials, and will be utilized in next-generation thermal optics. LightPath's proprietary BlackDiamond material has been uniquely optimized for multi-spectral use in demanding military applications – including the ability to function in extreme temperatures while in a smaller, lighter form factor – providing a significant advantage over competing product offerings.

"This order represents a significant validation by the market and a significant tier-1 defense contractor, as until now LightPath and our proprietary BlackDiamond™ materials were not a source of optical assemblies for this customer," said Sam Rubin, President and Chief Executive Officer of LightPath. "Following extensive design and testing work in collaboration with our team, this customer realized our superior product and stable supply chain provided significant capability, reliability and pricing advantages to keep them competitive in the marketplace. We believe this initial order could be the first of many as the program evolves and is increasingly adopted by military forces in the U.S. and allied nations."

About LightPath Technologies

LightPath Technologies, Inc. (NASDAQ:LPTH) 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 Diamond™ ("BD") 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 Dallas Texas, Latvia and China.

LightPath's wholly-owned subsidiary, Visimid Technologies, was acquired in July 2023, and specializes in the design and development of customized infrared cameras, for the industrial and defense industries. Such customized cameras are often sold together with customized optical assemblies from LightPath.

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 a thermal 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.

For more information on LightPath and its businesses, please visit www.lightpath.com.

Forward-Looking Statements

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SOURCE LightPath Technologies