LightPath Technologies Introduces New Optical Gas Imaging Camera for Ammonia and SF6 Detection

Rhea-AI Summary

LightPath Technologies (NASDAQ: LPTH) has announced a new version of its Optical Gas Imaging (OGI) camera platform designed to detect ammonia and sulfur hexafluoride (SF6) emissions in industrial and manufacturing settings. The camera utilizes infrared technology with a proprietary non-germanium BlackDiamond™ BD6 lens, offering a cost-effective and higher sensitivity solution compared to current technologies.

The new platform provides an alternative to germanium-based solutions, particularly significant given China's recent ban on germanium exports to the United States. The camera targets SF6, a gas with 23,500 times greater global warming potential than CO2, and ammonia, both commonly used in various industrial applications including electrical equipment, food and beverage manufacturing, and metal fabrication.

Positive

• Introduction of new OGI camera platform with enhanced detection capabilities
• Strategic advantage from non-germanium based solution amid China's export ban
• Market expansion into additional industrial and manufacturing applications
• Cost-effective alternative to existing technologies with higher sensitivity

Negative

• None.

Insights

Tech Expert

LightPath's new OGI camera represents a significant technological advancement in gas detection, particularly timely given China's germanium export restrictions. The proprietary BlackDiamond™ BD6 non-germanium lens technology offers a strategic advantage, effectively addressing both supply chain vulnerabilities and performance requirements. The camera's ability to detect SF6 - a greenhouse gas 23,500 times more potent than CO2 - and ammonia positions LPTH strongly in the industrial monitoring and environmental compliance sectors.

The technology's dual benefit of improved sensitivity and supply chain independence could drive significant market penetration, especially among U.S. manufacturers seeking to reduce dependence on Chinese materials. This product launch demonstrates LPTH's ability to innovate while addressing critical market challenges, potentially expanding their addressable market in industrial and manufacturing applications.

Market Research Analyst

This product launch strategically positions LPTH to capture market share in the growing environmental compliance technology sector. The timing is particularly advantageous given China's germanium export restrictions, which creates a compelling competitive advantage for LPTH's non-germanium solution. The addressable market is substantial, spanning electrical utilities, semiconductor manufacturing and various industrial applications requiring gas leak detection.

The product's value proposition combines regulatory compliance, cost-effectiveness and supply chain security - three critical factors driving purchase decisions in the current market environment. With increasing environmental regulations and growing emphasis on greenhouse gas reduction, demand for such detection technologies is likely to expand, potentially driving meaningful revenue growth for LPTH.

New OGI Camera Detects Fugitive Ammonia and Sulfur Hexafluoride (SF6) Emissions at Industrial and Manufacturing Facilities

Non-Germanium Based Solution Insulates LightPath Customers from China's Recent Ban on Germanium Exports to the United States

ORLANDO, Fla., Dec. 5, 2024 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced a new version of its Optical Gas Imaging ("OGI") camera platform to detect fugitive ammonia and sulfur hexafluoride (SF6) emissions for industrial and manufacturing applications.

LightPath's recently launched OGI Camera platform is a specialized technology utilizing infrared (IR) cameras to detect and visualize emissions, in this case the detection of ammonia and SF6. OGI cameras are capable of visualizing gases that are invisible to the naked eye by detecting the infrared energy absorbed or emitted by the gases. LightPath's purpose-built OGI camera leverages a proprietary non-germanium BlackDiamond™ BD6 lens to improve upon current technologies by offering a cost-effective, higher sensitivity and ultimately more effective solution that concurrently insulates LightPath customers from the geopolitical supply chain issues plaguing competing Germanium based solutions – such as China's recent ban on the export of Germanium to the United States.

SF6 is a colorless, odorless, non-flammable, and non-toxic gas, but with a 23,500 times greater global warming potential than CO2. SF6 is used in the electrical industry as a gaseous dielectric medium for electrical equipment and power systems, as well as in medical, semiconductor and other industrial industries. Ammonia is used in food and beverage manufacturing, metal and plastics fabrication, and the energy and chemical industries.

"Building on our oil and gas application OGI Camera, our newest variant expands our market potential into additional industrial and manufacturing applications," said Sam Rubin, President and Chief Executive Officer of LightPath. "This version will help detect SF6, the most potent greenhouse gas known to-date, and ammonia, which is also harmful when released into the environment. Managing gas emissions is critical for operations and are controlled by a variety of federal, state and local regulations – making OGI cameras an essential compliance tool. To meet these requirements, a wide spectrum of industries are seeking solutions that are cost effective, highly sensitive, and don't require the use of a proprietary software.

"With China's recently announced ban on the export of Germanium to the United States, it's more important than ever for U.S. companies to evaluate non-Germanium solutions for optics and imaging systems of all kinds. In this case, our OGI purpose-built camera with a non-germanium lens improves on current emissions detection technology, satisfies regulatory requirements for our clients, and provides an economical tool for multiple applications while ensuring supply chain security," concluded Rubin.

About LightPath Technologies

LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading provider of next-generation optics and imaging systems for both defense and commercial applications. As a vertically integrated solutions provider with in-house engineering design support, LightPath's family of custom solutions range from proprietary BlackDiamond™ chalcogenide-based glass materials – sold under exclusive license from the U.S. Naval Research Laboratory – to complete infrared optical systems and thermal imaging assemblies. The Company's primary manufacturing footprint is located in Orlando, Florida with additional facilities in Texas, Latvia and China. To learn more, 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.

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SOURCE LightPath Technologies

FAQ

What is LightPath Technologies' new OGI camera designed to detect?

LightPath's new OGI camera is designed to detect fugitive ammonia and sulfur hexafluoride (SF6) emissions in industrial and manufacturing facilities.

How does LPTH's new OGI camera differ from existing solutions?

The camera uses a proprietary non-germanium BlackDiamond™ BD6 lens, offering higher sensitivity and cost-effectiveness while avoiding dependency on germanium-based solutions affected by China's export ban.

What is the significance of SF6 detection in LPTH's new camera?

SF6 is a potent greenhouse gas with 23,500 times greater global warming potential than CO2, making its detection important for environmental compliance in industrial applications.

How does the China germanium export ban impact LPTH's new camera?

LightPath's non-germanium based solution insulates customers from supply chain disruptions caused by China's germanium export ban to the United States.