LightPath Technologies Announces Successful Transition of Key Customer from Germanium to BlackDiamond(TM) Glass Optics
LightPath Technologies (NASDAQ:LPTH) has announced a significant milestone in its transition from Germanium to BlackDiamond™ glass optics for a key defense customer. This shift comes in response to China's export restrictions on Germanium, which has led to a 60% increase in wholesale prices since January 2023. LightPath's proprietary BlackDiamond™ glass offers comparable performance to Germanium for thermal imaging applications, with additional benefits such as being lighter, having a wider thermal operating range, and containing no rare earths.
The customer has successfully completed qualification and evaluation of the new optics design using 100% BlackDiamond™ material. LightPath is now working on a production transition timeline, with an order expected once the customer depletes its Germanium inventory. This development represents a important step in securing a sustainable supply chain for industrial, civil, and defense customers, with optics made from materials produced in the United States.
LightPath Technologies (NASDAQ:LPTH) ha annunciato un traguardo significativo nella sua transizione dal germanio a ottiche in vetro BlackDiamond™ per un importante cliente nel settore della difesa. Questo cambiamento è una risposta alle restrizioni all'esportazione della Cina sul germanio, che hanno comportato un aumento del 60% dei prezzi all'ingrosso dal gennaio 2023. Il vetro BlackDiamond™ di LightPath offre prestazioni comparabili al germanio per applicazioni di imaging termico, con vantaggi aggiuntivi come un peso minore, un intervallo operativo termico più ampio e l'assenza di terre rare.
Il cliente ha completato con successo la qualificazione e la valutazione del nuovo design ottico utilizzando materiale 100% BlackDiamond™. LightPath sta ora lavorando su un cronoprogramma per la transizione alla produzione, con un ordine previsto non appena il cliente esaurirà il proprio inventario di germanio. Questo sviluppo rappresenta un passo importante per garantire una catena di fornitura sostenibile per i clienti industriali, civili e di difesa, con ottiche realizzate con materiali prodotti negli Stati Uniti.
LightPath Technologies (NASDAQ:LPTH) ha anunciado un hito significativo en su transición del germanio a ópticas de vidrio BlackDiamond™ para un importante cliente de defensa. Este cambio se produce en respuesta a las restricciones de exportación de China sobre el germanio, que han llevado a un aumento del 60% en los precios mayoristas desde enero de 2023. El vidrio BlackDiamond™ de LightPath ofrece un rendimiento comparable al del germanio para aplicaciones de imágenes térmicas, con beneficios adicionales como ser más ligero, tener un rango operativo térmico más amplio y no contener tierras raras.
El cliente ha completado con éxito la calificación y evaluación del nuevo diseño óptico utilizando material 100% BlackDiamond™. LightPath está trabajando ahora en un cronograma de transición a la producción, con un pedido que se espera una vez que el cliente agote su inventario de germanio. Este desarrollo representa un paso importante para asegurar una cadena de suministro sostenible para clientes industriales, civiles y de defensa, con ópticas fabricadas con materiales producidos en los Estados Unidos.
LightPath Technologies (NASDAQ:LPTH)는 주요 방위 고객을 위해 독일산 게르마늄에서 BlackDiamond™ 유리 광학으로 전환하는 중대한 이정표를 발표했습니다. 이 변화는 중국의 게르마늄 수출 제한에 대한 대응으로, 2023년 1월 이후 도매 가격이 60% 상승했습니다. LightPath의 독점적인 BlackDiamond™ 유리는 열 화상 애플리케이션에 대해 게르마늄과 유사한 성능을 제공하며, 더 가볍고, 더 넓은 열 작동 범위를 가지며, 희토류를 포함하지 않는 추가 이점이 있습니다.
고객은 100% BlackDiamond™ 재료를 사용한 새로운 광학 설계의 자격 확인 및 평가를 성공적으로 완료했습니다. LightPath는 이제 고객이 게르마늄 재고를 소진하면 주문이 예상되는 생산 전환 일정에 대해 작업하고 있습니다. 이 개발은 미국에서 생산된 재료로 제작된 광학 제품에 대한 지속 가능한 공급망을 보장하기 위한 중요한 단계입니다.
LightPath Technologies (NASDAQ:LPTH) a annoncé une étape importante dans sa transition du germanium vers des optiques en verre BlackDiamond™ pour un client clé dans le secteur de la défense. Ce changement intervient en réponse aux restrictions d'exportation de la Chine sur le germanium, ayant entraîné une augmentation de 60 % des prix de gros depuis janvier 2023. Le verre BlackDiamond™ de LightPath offre des performances comparables à celles du germanium pour les applications d'imagerie thermique, avec des avantages supplémentaires tels qu'un poids réduit, une plage de fonctionnement thermique plus large et l'absence de terres rares.
Le client a réussi à finaliser la qualification et l'évaluation du nouveau design optique utilisant 100% de matériau BlackDiamond™. LightPath travaille maintenant sur un calendrier de transition pour la production, avec une commande attendue dès que le client aura épuisé son inventaire de germanium. Ce développement représente une étape importante pour garantir une chaîne d'approvisionnement durable pour les clients industriels, civils et de défense, avec des optiques fabriquées à partir de matériaux produits aux États-Unis.
LightPath Technologies (NASDAQ:LPTH) hat einen bedeutenden Meilenstein bei der Umstellung von Germanium auf BlackDiamond™-Glasoptik für einen wichtigen Kunden im Verteidigungssektor angekündigt. Diese Änderung erfolgt als Reaktion auf Chinas Exportbeschränkungen für Germanium, die seit Januar 2023 zu einem Preisanstieg von 60 % im Großhandel geführt haben. Das proprietäre BlackDiamond™-Glas von LightPath bietet vergleichbare Leistungen zu Germanium für thermische Imaging-Anwendungen, mit zusätzlichen Vorteilen wie geringerer Gewicht, einem breiteren thermischen Betriebsbereich und dem Verzicht auf Seltene Erden.
Der Kunde hat erfolgreich die Qualifizierung und Bewertung des neuen optischen Designs mit 100% BlackDiamond™-Material abgeschlossen. LightPath arbeitet nun an einem Produktionsübergangszeitplan, mit einer Bestellung, die erwartet wird, sobald der Kunde seinen Germaniumbestand aufbraucht. Diese Entwicklung stellt einen wichtigen Schritt zur Sicherstellung einer nachhaltigen Lieferkette für industrielle, zivile und verteidigungstechnische Kunden dar, mit Optiken, die aus in den Vereinigten Staaten produzierten Materialien hergestellt werden.
- Successful qualification of BlackDiamond™ glass optics by a key defense customer
- Potential for increased market share in the thermal imaging industry
- Reduced dependence on Chinese Germanium supply
- BlackDiamond™ offers superior characteristics compared to Germanium
- Expected order from the customer after depletion of Germanium inventory
- Potential delay in order placement due to customer's existing Germanium inventory
- Transition period may impact short-term revenue from Germanium optics
The transition of a key defense customer from Germanium to BlackDiamond™ glass optics is a pivotal development for LightPath Technologies. Financially, this could significantly impact the company's revenue streams. Given the 60% rise in the wholesale price of Germanium and its constrained supply due to export restrictions from China, LightPath's alternative material not only provides cost-efficiency but also mitigates reliance on a volatile supply chain. This transition could boost LightPath's competitive edge and financial performance, especially as Germanium is a substantial part of its optics revenue.
Moreover, the proprietary nature of BlackDiamond™ chalcogenide glass offers differentiation that could attract additional customers facing similar supply chain issues. LightPath's ability to internally produce this material might improve margins and reduce COGS (Cost of Goods Sold). Over the long term, these advantages could drive sustainable growth and enhance shareholder value.
Short-term implications: The immediate focus will be on the successful execution of the production transition, which will be closely monitored by investors.
Long-term implications: Successfully replacing Germanium with BlackDiamond™ could lead to increased market share and solidified revenue streams.
From a technological perspective, the approval and adoption of BlackDiamond™ glass optics represent a significant innovation. Germanium has been the standard for thermal imaging due to its excellent optical properties. However, BlackDiamond™ glass offers comparable performance, is lighter and operates over a wider thermal range. Importantly, it does not depend on rare earth materials, making it a more sustainable and geopolitically stable alternative.
BlackDiamond™ glass sets a new benchmark for Mid-Wave Infrared (MWIR) and Long-Wave Infrared (LWIR) components. This shift can enhance optical performance while reducing weight, which is particularly advantageous in defense applications where equipment efficiency and durability are critical. The material's wide thermal operating range and environmental resilience further underscore its superiority and potential market disruption.
Short-term implications: Immediate technological validation with successful customer transition, indicating a reliable alternative to Germanium.
Long-term implications: Potential for widespread adoption across various industries, positioning LightPath as a leader in advanced optical materials.
The market impact of LightPath's successful transition to BlackDiamond™ glass optics for a major defense customer is substantial. The recent increase in Germanium prices due to supply constraints highlights the vulnerability many companies face with rare material dependencies. LightPath's strategic shift to BlackDiamond™ glass addresses this challenge head-on, offering a cost-effective and stable alternative.
By securing approval from a critical customer, LightPath not only validates its technological advancements but also opens doors to broader market penetration. The thermal imaging market is significant, encompassing sectors like defense, industrial and civil applications. LightPath's new material could capture a larger market share, particularly from companies seeking alternatives to Germanium amid geopolitical tensions.
Short-term implications: Market perception will likely be positive, potentially driving stock price appreciation as investors foresee lower material costs and supply chain risks.
Long-term implications: The successful transition could lead to expanded market opportunities and resilience against geopolitical supply constraints, enhancing overall market positioning.
ORLANDO, FL / ACCESSWIRE / July 23, 2024 / 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 that a current key defense customer using Germanium lenses has successfully completed the qualification and evaluation of new optics made from LightPath's proprietary Black DiamondTM ("BD") chalcogenide-based glass.
The shift to BlackDiamond™ glass comes in response to recent export restrictions on Germanium imposed by China, which supplies a significant portion of the world's Germanium. LightPath developed BlackDiamond™ glass as a viable alternative to Germanium, offering comparable performance for thermal imaging applications and has many superior characteristics, including containing no rare earths, is lighter and has a wider thermal operating range. since January 2023 wholesale price of Germanium has increased
After extensive testing and qualification, the customer has approved a new optics design utilizing
"This approval and planned customer transition to BlackDiamond™ from Germanium is a significant validation of our development focus on chalcogenide materials," said Sam Rubin, President and Chief Executive Officer of LightPath. "BlackDiamond™ sets a new standard for next generation MWIR and LWIR optical components and assemblies that need to meet environmental and durability requirements. This transition also marks a crucial step in securing a sustainable and robust supply chain for our industrial, civil and defense industry customers with optics made from materials produced in the United States. We believe this successful qualification signifies a promising future for the widespread adoption of BlackDiamond glass in the thermal imaging industry. We look forward to continuing our partnership with this customer and ensuring a seamless transition to our BlackDiamond glass optics."
About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ:LPTH) 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™ ("BD") 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 Texas, 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.
Forward-Looking Statements
This press release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "guidance," "plan," "estimate," "will," "would," "project," "maintain," "intend," "expect," "anticipate," "prospect," "strategy," "future," "likely," "may," "should," "believe," "continue," "opportunity," "potential," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the impact of varying demand for the Company products; the ability of the Company to obtain needed raw materials and components from its suppliers; actions governments, businesses, and individuals take in response to the pandemic, including restrictions on onsite commercial interactions; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; geopolitical tensions, the Russian-Ukraine conflict, and the Hamas/Israel war; the effects of steps that the Company could take to reduce operating costs; the inability of the Company to sustain profitable sales growth, convert inventory to cash, or reduce its costs to maintain competitive prices for its products; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on 10-Q. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. 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.
CONTACT
Brian M. Prenoveau, CFA
MZ Group - MZ North America
LPTH@mzgroup.us
+561 489 5315
SOURCE: LightPath Technologies, Inc.
View the original press release on accesswire.com
FAQ
What is LightPath's BlackDiamond™ glass and how does it compare to Germanium?
Why is LightPath (LPTH) transitioning from Germanium to BlackDiamond™ glass?
What is the significance of a key defense customer approving LightPath's (LPTH) BlackDiamond™ glass optics?
When can LightPath (LPTH) expect an order for BlackDiamond™ glass optics from the key defense customer?
