ORLANDO, Fla., Aug. 21,
2012 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH)
("LightPath," the "Company" or "we"), a global manufacturer,
distributor and integrator of patented optical components and
high-level assemblies, announces today that it has been chosen by
the Metro Orlando Economic Development Commission as a 2012
recipient of the William C. Schwartz Industry Innovation
Award. The annual award, named in honor of the late
William C. Schwartz, an Orlando business pioneer and innovator within
the field of optics and photonics, recognizes companies that have a
significant effect on the region through innovative practices,
products or ideas.
(Logo: http://photos.prnewswire.com/prnh/20120202/FL45310LOGO
)
LightPath Technologies was chosen for the award based on its
pioneering work in developing infrared optics manufacturing
technologies. LightPath Technologies is a global leader in
the manufacture and distribution of molded glass optics for a
variety of applications including telecommunications, defense,
medical and industrial-laser optics. LightPath has applied
the knowledge and experience developed over the last twenty five
years in the visible optics market to develop a low-cost
manufacturing technique for the production of infrared
optics. Applications of infrared and thermal imaging
technology have grown dramatically over the last ten years into
various markets including industrial inspection, automotive safety,
chemical and biological sensing and security and surveillance –
markets that are expected to generate over $20 billion in system-wide sales in 2014.
"We are excited to announce that we've won the William C.
Schwartz Industry Innovation Award for 2012. I believe it is
a reflection of the progress we have made in developing
groundbreaking manufacturing techniques for infrared optics," said
Jim Gaynor, President and CEO of
LightPath Technologies. "We are more excited than ever about
the technology that we have developed and the growing financial
contributions that we expect from these exciting new infrared
initiatives this year and beyond. We are very pleased to have
been selected to win this prestigious award."
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. LightPath has a strong patent portfolio that has been
granted or licensed to us in these fields. LightPath common stock
trades on the Nasdaq Capital Market under the stock symbol LPTH.
For more information visit www.lightpath.com
Investor Contact:
Brian Soller, Vice
President, Corporate Development
LightPath Technologies, Inc. (407) 382-4003
Internet: 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.
SOURCE LightPath Technologies, Inc.