Large Purchase Order Received for Thermal Imaging Product for Consumer Market Application
ORLANDO, FL / ACCESSWIRE / February 21, 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 a $1.14 million purchase order for 2.7mm focal length thermal imaging lens assemblies from a well-known technology integrator and original equipment manufacturer (“OEM”) in East Asia and its partnership in the European Union.
Jim Gaynor, LightPath’s President & CEO, stated, “This contract win is an example of how LightPath is using its advanced technologies and manufacturing capabilities to differentiate itself from the competition in the emerging and fast-growing market for thermal imaging sensors.”
The 2.7mm focal length lens is a catalog solution adaptable to a variety of long-wave infrared (“LWIR”) thermal sensing applications. It utilizes 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 is expected to start monthly deliveries in April of 2020 and fulfill the agreement ratably over 12 months, 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
Specialty Product Line Manager
SOURCE: LightPath Technologies, Inc.
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