Receives New Orders Totaling More Than $1.7 Million in Asian Market for Medical and Sensing Applications
ORLANDO, FL / ACCESSWIRE / March 9, 2020 / 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 won purchase orders totaling in excess of $1.7 million for multiple thermal imaging lens assemblies used in medical and sensing applications in the Asian market.
Jim Gaynor, of LightPath, stated, "These new orders demonstrate the continuing and accelerating demand in the marketplace for LightPath's innovative infrared products. Many of these products are used in various medical applications being utilized to combat the spread of the novel coronavirus ("COVID-19"). We are proud that LightPath is able to support the fight against the spread of COVID-19 in this way. The investments the Company has made over the last two years has positioned LightPath to be able to provide these products in volume."
The thermal imaging lens assemblies to be manufactured in connection with the orders announced today utilize several of LightPath's vertically integrated in-house capabilities, such as: 1) state-of-the-art precision glass molding that enables aspheric performance with tight tolerances; 2) high efficiency anti-reflective ("AR") coatings; and, 3) LightPath's BD6 (chalcogenide) glass material, which offers optical athermalization and high transmission over a wide range of temperatures. LightPath will begin deliveries immediately, with production managed from the Company's facilities in China.
LightPath continues to increase its offerings of thermal imaging lenses with a broad range of focal lengths to enable applications such as monitoring solutions for health care markets, smart homes and businesses, firefighting, security and surveillance, military target tracking and situational awareness, outdoor sporting equipment, industrial thermography, and many other emerging applications.
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, 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 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.
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, continued improvements in our financial results, 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, including its most recent Annual Report on Form 10-K. 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.
Imaging Optics Product Line Manager
SOURCE: LightPath Technologies, Inc.
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