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LightPath Technologies Announces Advancement in Industrial Optics Market with Order Valued at $500,000

October 10, 2018

Leading Thermal Imaging OEM Continues to Expand Use of LightPath BD6™ Product SuiteORLANDO, FL / ACCESSWIRE / October 10, 2018 / LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading vertically

Leading Thermal Imaging OEM Continues to Expand Use of LightPath BD6™ Product SuiteORLANDO, FL / ACCESSWIRE / October 10, 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 $500,000 follow-on order for a variety of infrared (IR) optics from a major American manufacturer of thermal imaging cameras. The IR optics will be manufactured from LightPath’s proprietary Black Diamond 6 ™ (BD6™) infrared material. The finished lenses will be used in products sold into the industrial marketplace, including automotive, commercial trades, firefighting, law enforcement, hunting, and outdoor recreational applications.“This follow-on order from one of the world’s leading IR camera original equipment manufacturers is another vote of confidence in the quality of LightPath’s optical engineering and manufacturing capabilities,” said Jim Gaynor, President and Chief Executive Officer of LightPath. “Total sales of BD6 optics aggregate to $1.5 million for this customer alone in less than 6 months. We are incredibly pleased with the traction we are experiencing for a new product launch which validates our best-in-class optical technology innovation.“Our new line of BD6 lenses along with our entire line of IR optics as well as our Precision Molded Optics (PMO) lenses can be used in a variety of end markets. LightPath is fortunate to have strength through diversification of materials, manufacturing methods, product categories, customers, and end markets. New BD6 products are having a meaningful impact on the growth of our sales to the Industrial sector, one of our 6 vertical end markets. The other markets include Catalogs/Distributors, Defense, Medical, Telecommunications/Networking, and Other.“Products to be produced under the contract announced today will be manufactured at LightPath’s Zhenjiang, China facility and shipped over the next 12-18 months. LightPath’s products have been in increasing demand due to its ability of lowering the cost and improving the functionality of component and integrated optical technologies. The cost competitive delivery of these components and assemblies are being facilitated by the significant investments LightPath has made in diamond turning, molding technology, coating capabilities, and staffing.BD6™ thermal imaging lenses and related 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. Chalcogenide glass material is inherently optically athermal in addition to offering great transmission over a very wide range of temperature, making it ideal for diversified industrial uses. LightPath is well-positioned with a robust product suite for a broad range of thermal imaging, sensory and measurement applications.About LightPath TechnologiesLightPath 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.ContactsAt the Company:Devin StandardVice President of Corporate Development 407-382-4003 Ext 369 Investor Relations:Jordan DarrowDarrow Associates512-551-9296SOURCE: LightPath Technologies, Inc. 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