LightPath Technologies, Inc. (LPTH) Partners with NHG, Grants Exclusive License for Manufacturing and Distribution

Yesterday, LightPath Technologies announced that it has partnered with NHG, granting them an exclusive license to manufacture and distribute GRADIUM® glass products in Asia (in particular, China) using LightPath intellectual property. The license is exclusive, non-assignable, non-transferable, and has an initial term of five years.

With unique refractive qualities that can be manipulated to reduce spherical abberations, GRADIUM® lenses are made from LightPath’s proprietary axial gradient index glass and can yield performance similar to single-term aspheres at a fraction of the cost. GRADIUM® lenses have been very well received for use in high-power industrial laser systems by many of the world’s largest laser and fiber laser manufacturers. These optics are being included in laser delivery systems spanning a wide variety of products in end markets that include laser cutting, marking, and welding.

Jim Gaynor, President and CEO of LightPath Technologies, remarked, “We are pleased and excited to have found such an excellent partner for the distribution of the GRADIUM® product into the Asian and, specifically, the Chinese market. NHG is a well known and respected producer of optical materials in China, and we believe there is potential for additional partnership opportunities with NHG in the future. We believe NHG will be very successful in broadening the exposure of our GRADIUM® products in Asia and that this partnership will continue to expand LightPath’s distribution network and contribute to our company’s growth throughout China and Asia well into the future.”

LightPath recently announced strategic initiatives to develop a low-cost manufacturing technique for the production of infrared optics. The company expects commercial sales of its infrared products to launch in the fourth quarter of 2012. Applications of infrared and thermal imaging technology have grown dramatically over the last ten years into various markets including industrial inspection, automotive safety, chemical and biological sensing, and security and surveillance. These markets are expected to generate over $20 billion in system-wide sales in 2014.

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