LightPath Technologies Completes Expansion and Renovation of Orlando Facility

ORLANDO, FL / ACCESSWIRE / October 3, 2023 / LightPath Technologies, Inc. (NASDAQ:LPTH) ("LightPath," the "Company," or "we"), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared technologies, today announced the completion of the Company's expansion and renovation of their facility in Orlando. With over $5 million invested, the facility's total footprint grew from 34,000 square feet to 55,000 square feet.

Within the expanded footprint, the Company was able to nearly triple its cleanroom space from 4,000 square feet to 11,700 square feet, increasing the Company's capacity to support the strategically important assemblies and camera sub-systems businesses. The two Orlando facilities were consolidated into one as part of the renovation, streamlining manufacturing processes. In addition, 6,500 square feet was added to dedicated engineering space, with most of that composing lab space. Additional room to expand glass manufacturing, including coating and assembly, was prepared for future use.

"We are excited to announce the completion of this long-term investment in our U.S. manufacturing operations," says Sam Rubin, CEO of LightPath Technologies. "By upgrading our manufacturing space, we can increase production efficiency and reduce lead times for our customers. The upgraded area provides for future production growth as our company requires additional capabilities.

"This expansion was largely made possible with the support of our investors who believe in the strategy we embarked on years ago to evolve LightPath Technologies to an optical solutions and systems provider."

About LightPath Technologies

LightPath Technologies, Inc. is a leading global, vertically integrated provider of optics, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries. LightPath designs and manufactures proprietary optical and infrared components including molded glass aspheric lenses and assemblies, custom molded glass freeform lenses, infrared lenses and thermal imaging assemblies, fused fiber collimators, and proprietary Black Diamond™ ("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 Dallas Tx, Latvia and China.

LightPath's wholly-owned subsidiary, Visimid Technologies, was acquired in July 2023, and specializes in the design and development of customized infrared cameras, for the industrial and defense industries. Such customized cameras are often sold together with customized optical assemblies from LightPath.

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.

For more information on LightPath and its businesses, please visit www.lightpath.com.

Investor Contact:

Brian M. Prenoveau, CFA
MZ Group - MZ North America
LPTH@mzgroup.us
+561 489 5315

SOURCE: LightPath Technologies