LightPath Announced Qualification of its BD6 Material for Space Applications

Rhea-AI Summary

LightPath Technologies (NASDAQ:LPTH) announced that its BD6 infrared glass has passed radiation tests, qualifying it as a replacement for Germanium in space applications. This achievement is part of a European Space Agency project, aligning with efforts by the US Department of Defense and European defense agencies to find alternatives to Germanium. The tests simulate radiation exposure faced during ESA missions. The market for commercial satellite imaging is projected to grow at a CAGR of 10.8% and reach $7 billion by 2030, with applications in missile detection and industrial processes.

Positive

• BD6 infrared glass passed radiation testing, qualifying for space applications.
• Alignment with US Department of Defense and European defense initiatives.
• Commercial satellite imaging market projected to grow at a CAGR of 10.8%, reaching $7 billion by 2030.

Negative

• None.

ORLANDO, FL / ACCESSWIRE / November 10, 2022 / LightPath Technologies, Inc. (NASDAQ:LPTH), ("LightPath" or the "Company"), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared technologies, announced that the Company's BD6 infrared glass has passed radiation testing and is qualified for use as a replacement for Germanium in space applications.

The testing of LightPath's BD6 as part of a European Space Agency ("ESA") project comes in parallel to efforts by the US Department of Defense, European defense agencies, and others to reduce their dependence on Germanium by qualifying an alternative. The tests performed as part of the ESA project were designed to simulate the radiation the material would be exposed to during ESA missions, including both Gamma and Proton tests. The tests show that LightPath's Black Diamond material and Anti Reflective Coating can withstand radiation exposure to in-orbit tasks.

The testing of LightPath's Black Diamond material comes as the next logical step after having been awarded funding by the ESA to advance chalcogenide optics for use in space in December 2021[1]. The market for commercial satellite imaging is forecasted to grow at a CAGR of 10.8% and reach $7 billion by 2030. Thermal Imaging from low earth orbit is expected to play a major role in new missile detection systems, as well as agriculture and industrial applications such as methane detection and more.

LightPath's President and Chief Executive Officer Sam Rubin stated, "Approval of our Black Diamond materials for space use is an exciting development as it brings us one step closer to participating in a premier space program. BD6 is the material we leverage to encourage clients to partner with us on optical solutions. Material and optical systems projects with a space program the caliber of the ESA would place LightPath on the cutting edge of optics design."

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^TM ("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.

Investor Contact:

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

[1] https://www.accesswire.com/676782/LightPath-Technologies-Awarded-Funding-by-European-Space-Agency-to-Advance-Chalcogenide-Optics-for-Usage-in-Space

SOURCE: LightPath Technologies

View source version on accesswire.com:
https://www.accesswire.com/724987/LightPath-Announced-Qualification-of-its-BD6-Material-for-Space-Applications

FAQ

What did LightPath Technologies announce on November 10, 2022?

On November 10, 2022, LightPath Technologies announced that its BD6 infrared glass has passed radiation testing and is qualified for use in space applications.

How does BD6 glass compare to Germanium for space applications?

LightPath's BD6 infrared glass is now qualified as a replacement for Germanium, which is traditionally used in space optics.

What funding has LightPath received for its optical materials?

LightPath was awarded funding by the European Space Agency in December 2021 to advance chalcogenide optics for space use.

What is the forecasted growth for the commercial satellite imaging market?

The commercial satellite imaging market is forecasted to grow at a CAGR of 10.8% and reach $7 billion by 2030.

What applications are expected to benefit from BD6's qualification?

BD6's qualification is expected to benefit thermal imaging for missile detection, agriculture, and industrial applications.