LightPath Introduces MANTIS, The Company’s First Multispectral Camera System

Rhea-AI Summary

LightPath Technologies (NASDAQ:LPTH) has unveiled MANTIS, its inaugural Multi-Spectral Infrared Camera System. This innovative camera system efficiently combines midwave and longwave infrared imaging capabilities without requiring complex cooling systems, addressing significant market needs. The thermal imaging market, currently valued at $6.7 billion, is projected to reach $8.8 billion by 2026, with LightPath aiming to capture a substantial share. CEO Sam Rubin emphasized that MANTIS signifies a strategic advancement for the company, leveraging proprietary materials to enhance performance.

Positive

• Launch of MANTIS, an innovative multi-spectral camera system, enhances product offering.
• Addresses a significant portion of the $6.7 billion thermal imaging market, projected to grow to $8.8 billion by 2026.
• Utilizes proprietary Black Diamond glass materials for improved performance and reduced weight and cost.

Negative

• None.

ORLANDO, FL / ACCESSWIRE / December 21, 2022 / LightPath Technologies, Inc. (NASDAQ:LPTH), ("LightPath" or the "Company"), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared technologies, introduces MANTIS the company's first Multi-Spectral Infrared Camera System.

Multi-spectral cameras allow users to reduce the number of cameras and lenses needed for any infrared imaging use. Currently, users typically use uncooled long wave cameras (LWIR), and cooled mid wave cameras (MWIR), the later having high costs and shorter lifetime due to the complex cooling requirements. LightPath's uncooled multi spectral camera images in both the midwave range, and the long wave ranges simultaneously, without the complicated, heavy and expensive cooling system needed today, yet with the advantages that come from imaging in mid wave. With fewer lenses and cameras, the thermal imaging solution's total cost, weight, and size is dramatically reduced.

LightPath's President and Chief Executive Officer Sam Rubin stated, "MANTIS represents a leap-forward in technology both for LightPath Technologies and for the market for thermal imaging. It also serves us as proof of our strategy to move up the value-chain to producing optical solutions, based on key differentiating technologies. The new, first of its kind camera leverages our proprietary Black Diamond^TM glass materials and specifically is made possible through the use of the new materials we licensed last year from NRL. These materials enable the multispectral functionality and allow us to use our proprietary fabrication technologies and coatings to achieve the very broadband performance, in a small and light weight form factor."

Thermal cameras are a $6.7 billion market today and expected to grow to $8.8 billion in 2026[1]. Of which, LightPath believes this solution can address nearly half of the applications in this market.

"With the introduction of MANTIS LightPath Technologies gains access to a huge market where our product provides a unique, compelling value proposition. This is part of the evolution LightPath is going through, and a major step in our new Strategic direction," LightPath Technologies CEO Sam Rubin continued.

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] Yole Intelligence: Thermal Imagers and Sensing 2022

SOURCE: LightPath Technologies

View source version on accesswire.com:
https://www.accesswire.com/732744/LightPath-Introduces-MANTIS-The-Companys-First-Multispectral-Camera-System

FAQ

What is the MANTIS camera system introduced by LightPath Technologies?

MANTIS is LightPath's first Multi-Spectral Infrared Camera System that combines midwave and longwave imaging without the need for complex cooling systems.

What market does LightPath's MANTIS camera target?

MANTIS targets the thermal imaging market, which is valued at $6.7 billion and expected to grow to $8.8 billion by 2026.

How does MANTIS improve thermal imaging technology?

MANTIS reduces the number of cameras and lenses required, lowering total cost, weight, and size while maintaining high performance.

Who commented on the significance of MANTIS for LightPath Technologies?

CEO Sam Rubin highlighted that MANTIS represents a significant technological advancement and aligns with the company's strategic direction.

What proprietary materials are used in the MANTIS camera system?

MANTIS leverages proprietary Black Diamond glass materials licensed from the NRL, enabling enhanced multi-spectral functionality.