LightPath Technologies Awarded Initial BlackDiamond Glass Order Following Qualification with New European Defense Customer
Initial Development Order with New Customer Follows Recently Granted European Defense Manufacturing License
The BlackDiamond glass, which has already completed qualification with the customer, utilizes the Company's proprietary BlackDiamond™ Chalcogenide material, and will be utilized in the prototypes within the defense customer's optical systems. Upon successful development into the customer's next-generation optical systems, LightPath maintains the opportunity for larger recurring orders in the future.
"Earlier this year we received a European Defense license, granting us the ability to supply products to the European defense industry, one of the largest defense markets in the world," said
"As we intentionally scaled back our Germanium work over the last year, we built the capacity and skillsets needed to support a significant scale-up of our own BlackDiamond materials, which have a secure supply chain and enhanced margin profile. In addition, we recently expanded production capabilities at our Latvian facility to vertically integrate and prepare for what we believe will be increasing European defense sales as the industry continues to grow," concluded Rubin.
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