ORLANDO, FL / ACCESSWIRE / December 13, 2021 / LightPath Technologies, Inc. (NASDAQ:LPTH) (“LightPath,” the “Company,” or “we”), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared components and high-level assemblies, today announced it has been awarded a renewal of an annual supply agreement valued at over $4.2 million. The contract is for the purchase of a variety of infrared (“IR”) optical lens elements by a major commercial infrared vision products customer.
Given LightPath’s track record of consistently delivering large volumes of high-quality optics, the Company expects to receive additional orders from this customer in the coming year for next generation products currently under development.
“We are pleased to announce this major contract renewal today as it demonstrates LightPath’s ability to supply high-quality infrared optics on a commercial scale for an impactful OEM partner that values our optical expertise and innovative technologies,” stated Mark Palvino, VP of Global Sales at LightPath. “We are seeing strong demand across our growing portfolio as the LightPath brand is strengthening globally.”
This supply agreement is for commercial hand-held thermal monocular and thermal weapon-sight lenses to be supplied to a major European manufacturer of night vision and thermal sights. LightPath’s optics will be used on sights and other sporting and outdoor products designed for search and rescue, nature observation, hunting, maritime navigation and other commercial applications.
The large volume of work needed to fulfill this supply agreement will be completed in LightPath’s Riga, Latvia, Orlando, Florida and Zhenjiang, China facilities.
Company Contacts:
Rob Myers, Product Manager
LightPath Technologies, Inc.
Tel: 407-382-4003
rmyers@lightpath.com
Mark Palvino, VP of Global Sales
LightPath Technologies, Inc.
Tel: 407-382-4003
mpalvino@lightpath.com
Investor Contact:
Jordan Darrow
Darrow Associates
Tel. 631-766-4528
Jdarrow@darrowir.com
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