LightPath Technologies Completes $750,000 SBIR Phase II Contract From the U.S. Navy
20 Septiembre 2010 - 9:10AM
Marketwired
LightPath Technologies, Inc. (NASDAQ: LPTH), a global manufacturer,
distributor and integrator of patented optical components and
assemblies, announced today that the Company has completed a
$750,000 Phase II SBIR contract award from the U.S. Navy, under the
direction of the Air Force Research Laboratory (AFRL), for
developing molding capabilities for infrared lenses using
chalcogenide glass.
The completion of the SBIR has created a platform for LightPath
to develop large diameter molded infrared aspheric lenses.
LightPath currently sells molded infrared lenses and thermal
imaging assemblies as part of the larger thermal imaging,
thermography and gas sensing markets. These expanding markets have
a combined estimated value of over $2.5 Billion.
LightPath CEO Jim Gaynor commented, "LightPath has enjoyed
collaborating with the US Navy and US Air Force to develop new
technologies for molding infrared lenses. Completion of this SBIR
contract has enabled LightPath to not only bring low cost, molded
infrared optics to the defense market, but also bring to market
high volume infrared lenses for commercial OEM applications. The
completion of this SBIR contract significantly increases
LightPath's potential market share in the infrared optics markets
by enabling LightPath to produce molded lenses that are larger in
diameter that previously possible."
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.
GRADIUM® is a registered trademark of LightPath Technologies
Contact: Ray Pini Director of Marketing LightPath Technologies,
Inc. Tel: +1-407-382-4003 x336 Email: rpini@lightpath.com Web:
www.lightpath.com
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