LightPath Technologies and the University of Central Florida Enter Into Research Agreement
15 Septiembre 2010 - 7:30AM
Marketwired
LightPath Technologies, Inc. (NASDAQ: LPTH), a global manufacturer,
distributor and integrator of patented optical components and
assemblies, announced today that it has entered into a research
agreement with the University of Central Florida's (UCF) College of
Optics and Photonics ("CREOL") to develop new processes for the
handling and molding of infrared glasses. Funding for LightPath's
agreement was partially obtained through matching funds available
from the Florida High Tech Corridor Council (FHTC).
LightPath is working to bring low cost infrared optics to the
defense, military and commercial infrared markets. The Company is
targeting such high-growth applications as infrared
countermeasures, thermography, gas sensing and thermal imaging for
commercial night vision systems. Management estimates these markets
have a combined present value of over $2.5 Billion. LightPath
intends on using new techniques developed under its UCF agreement
to increase production volumes and reduce the cost of its molded
aspheric infrared lenses.
Jim Gaynor, CEO of LightPath Technologies, stated, "Infrared
technology has numerous real world applications, and sophisticated
molding processes and glass materials provide the foundation to
help drive down costs of optics used to build infrared devices. We
are excited to have the opportunity to work with the exceptional
staff at UCF to develop new processing techniques for moldable
infrared glasses. By tapping into the innovative minds and
resources of academia, LightPath can cost-effectively decrease its
time-to-market new product lines, while we support the growth of
our local economy."
The collaborative funding by LightPath and the FHTC will support
a research team consisting of two post-graduate students led by
CREOL Professor Dr. Ayman Abouraddy, who commented, "I am delighted
to start a collaboration with LightPath which will allow us to
bring our expertise in chalcogenide glass processing, developed at
CREOL, to LightPath's lens fabrication procedures. I anticipate
that this project will have a positive economic impact in our
community, which is one of the main goals of optics and photonics
research at CREOL."
About the University of Central
Florida
The University of Central Florida (UCF) is a metropolitan
research university that ranks as the third largest public
university in the nation with more than 53,000 students. UCF's
first classes were offered in 1968. The university offers extensive
academic and research environments that power the region's economic
development. UCF's culture of opportunity is driven by its
diversity, Orlando environment, history of entrepreneurship and its
youth, relevance and energy. For more information, visit
http://news.ucf.edu.
About LightPath Technologies
LightPath manufactures optical products including precision
molded aspheric optics, GRADIUM® glass products, proprietary
collimator assemblies, laser components utilizing proprietary
automation technology, higher-level assemblies and packing
solutions. The Company's products are used in various markets,
including industrial, medical, defense, test & measurement and
telecommunications. LightPath has a strong patent portfolio that
has been granted or licensed within these fields. For more
information, 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.
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.
Contact: Ray Pini Director of Marketing LightPath
Technologies, Inc. Phone: +1-407-382-4003 x336 Email:
rpini@lightpath.com Web: www.lightpath.com
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