U.S. Markets open in 6 hrs 41 mins

LightPath Technologies Announces Order for New 24MM Chalcogenide BD6(TM) Lenses

Leading Thermal Imaging OEM Increases Use of LightPath BD6 Product Suite

ORLANDO, FL / ACCESSWIRE / September 25, 2018 / LightPath Technologies, Inc. (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 $455,000 purchase order for a large quantity of BD6™ 24mm EFL thermal imaging assemblies from a well-known commercial infrared optics original equipment manufacturer (OEM) in the United States. The contract calls for monthly shipments from October 2018 through December 2019.

BD6™ thermal imaging lens assemblies are produced using the Black DiamondTM chalcogenide-based glass compound developed and grown internally by LightPath. LightPath's new BD6TM chalcogenide line of infrared lenses is an ideal alternative to products made from germanium.

Jim Gaynor, LightPath's President & CEO, stated, ''This is the second order in the last few months from a leading domestic thermal imaging OEM which initially engaged LightPath for our new line of proprietary BD6TM products. The first order from this customer was for our 19mm EFL thermal imaging assemblies. Now, we are pleased that our high-quality products and new designs are garnering market share gains which has led to a second order from this customer for another new BD6TM lens. The 24mm longwave infrared assemblies are being designed for use in thermal binoculars, monoculars, viewers and riflescopes.''

The new 24mm 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™ chalcogenide glass material which is inherently optically athermal in addition to offering great transmission over a very wide range of temperature.

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 for an array of industries, including sporting, law enforcement, first responder, and search and rescue.

About LightPath Technologies

LightPath Technologies, Inc. (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
dstandard@lightpath.com

Investor Relations:
Jordan Darrow
Darrow Associates
512-551-9296
jdarrow@darrowir.com

SOURCE: LightPath Technologies, Inc.