LightPath Technologies Announces Availability of Diamond Like Carbon (DLC) Coating Production Capability

ORLANDO, FL / ACCESSWIRE / November 12, 2019 / 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 the availability of Diamond Like Carbon (DLC) coating at production quantities for its proprietary BD6 chalcogenide glass materials product line. This marks a new manufacturing process from the company which enables LightPath to enter into markets for commercial applications for BD6 lenses that include cameras and other sporting and outdoor products designed for search and rescue, thermal imaging assemblies for low cost sensors, nature observation, hunting, maritime navigation and other applications.

LightPath’s proprietary chalcogenide material, Black DiamondTM, marketed under the BD6 brand, is an excellent replacement for Germanium optics and has many superior characteristics, such as it containing no rare earths, is lighter and has a wider thermal operating range. These advantages led to LightPath reporting in the most recent fiscal quarter a 250% increase year-over-year in the number of units sold for its new line of BD6 lenses. Limiting additional demand was that BD6 glass is a softer material which, until now, was a deterrent to its use in applications where exposure to the elements was required. LightPath’s new DLC coating resolves this issue to stabilize the outer surface of the lens and essentially impenetrable to external factors.

“This cutting-edge development on chalcogenide materials sets the new standard for next generation MWIR and LWIR optical components and assemblies that need to meet environmental and durability requirements,” said Jim Gaynor, President and Chief Executive Officer of LightPath. “The response from the market has been tremendous as our BD6 lenses are displacing and preferred over conventional germanium lenses. This is a state-of-the-art technological process for optical systems which are used in industrial, civil and military applications. We are proud to announce that DLC on BD6 is now in volume production.”

LightPath is a proven leader in offering advanced, yet manufacturable, optical technologies that enable our customers to meet their most demanding requirements. This level of excellence has been achieved through the efforts of the Company’s outstanding team of optical engineers and technicians collaborating from three continents.

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.

Forward-Looking Statements

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.

Contacts:

Jim Gaynor, President & CEO
LightPath Technologies, Inc.
Tel: 407-382-4003
jgaynor@lightpath.com

Donald O. Retreage, Jr., CFO
LightPath Technologies, Inc.
Tel: 407-382-4003 x329
dretreage@lightpath.com

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

SOURCE: LightPath Technologies, Inc.

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