LightPath Technologies Announces Significant Order for New Chalcogenide BD6 Lenses

Large Purchase Order Received for Thermal Imaging Product for Consumer Market Application

ORLANDO, FL / ACCESSWIRE / June 20, 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 a $550,000 purchase order for a large quantity of 19mm EFL thermal imaging assemblies from a well-known commercial infrared optics original equipment manufacturer (OEM) in the United States.

Jim Gaynor, LightPath's President & CEO, stated, "We recently announced the availability of our new line of infrared lenses made of a chalcogenide compound which is developed and melted internally to produce Black Diamond^TM glass and marketed as BD6^TM. LightPath's glass manufacturing and molding capabilities were augmented as part of a vertical integration strategy in response to the market's increasing requirements for low cost infrared optics applications. We are pleased to announce a large new order for our innovative BD6^TM lenses for a consumer product customer. Beyond the consumer market, we are receiving interest from OEMs in the commercial, firefighting, law enforcement and outdoor lifestyle segments of the infrared market for our lenses and assemblies. We are very pleased with the initial traction and trajectory of our new BD6^TM capabilities."

The new 19mm EFL, f/1.1 lens assembly is a popular size used in a variety of infrared applications. The low‐cost dual-element assembly is designed to deliver a 33deg HFOV on 640X480/17μm uncooled infrared detector. The molded lens elements are constructed of LightPath's BD6^TM chalcogenide glass material which is inherently optically athermal in addition to offering great transmission over a very wide range of temperature. LightPath expects to complete the shipment by May of 2019.

LightPath now offers a large selection of thermal imaging lens assemblies ranging in effective focal lengths of 1.3mm to over 100mm and can be used in many applications such as weapon sights, thermal monocular and binocular, target tracking and identification, to name a few.

According to Maxtech International, Inc., in 2017 the world infrared imaging market experienced a fourth straight year of record unit shipments. The number of uncooled detectors increased by over 30% to reach nearly 1.3 million units. LightPath's uncooled thermal lenses made of BD6^TM provide superior optical athermalization, high transmission and are light weight. The material can be molded, polished or diamond turned into the size best suited for the application.

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
[email protected]

Investor Relations:
Jordan Darrow
Darrow Associates
512-551-9296
[email protected]

SOURCE: LightPath Technologies, Inc.