Lightpath Technologies (LPTH) Receives Contract Renewal for Infrared Optical Lens Elements Representing 20% Increase from Previous Renewal

December 1, 2022 9:19 AM EST

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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 has renewed its supply contract with a major commercial infrared vision products customer in excess of $5 million, representing a 20% increase from last year's renewal.

LightPath's President and Chief Executive Officer, Sam Rubin, commented, "We are pleased to announce this year's contract renewal as it represents an expansion of our partnership and a more than 20% increase from last year's renewal. This renewal is proof of LightPath's ability to supply high-quality infrared optics on a commercial scale to a key OEM partner."

This supply agreement is for commercial hand-held thermal monocular and 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.

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