LightPath Technologies Wins US Defense Contract to Advance Germanium Alternatives

MT Newswires Live09-17 21:58

LightPath Technologies (LPTH) said Thursday it has won a funded prototype agreement to advance germanium alternatives under the US Department of Defense's Critical Low-risk Electro-optic Alternatives for Resilience program.

Under the agreement, the company said it will continue to develop BlackDiamond chalcogenide glass materials and optics as germanium alternatives for defense applications. Financial details were not provided.

The CLEAR program, which is sponsored by the Department of Defense's Advanced Materials Office, is intended to accelerate the development of domestic alternative optical materials for the electro-optic and infrared systems used in defense surveillance, targeting, and situational awareness, the company said.

Shares of LightPath were up 6.3% in early Thursday trading.

Price: 9.98, Change: +0.59, Percent Change: +6.28

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