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LightPath To Offer Its Popular Infrared Chalcogenide Glass (BD6) as an Alternative Raw Material to Germanium
- Company Provides Further Comments on China's Export Restrictions on Germanium and Gallium -ORLANDO, FL / ACCESSWIRE / July 18, 2023 / LightPath
About this update from Lightpath Technologies, Inc.
[{"type":"text","content":"- Company Provides Further Comments on China's Export Restrictions on Germanium and Gallium -ORLANDO, FL / ACCESSWIRE / July 18, 2023 / LightPath Technologies, Inc. (NASDAQ:LPTH), (\"LightPath\" or the \"Company\"), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared technologies, provided an update on the impact of China's recently announced restrictions on the export of gallium and germanium.\"Germanium is the dominant material used in lenses for infrared imaging systems and China is the world's largest supplier. China's recent announcement limiting the export of Gallium and Germanium is one that we have anticipated and prepared for. LightPath's family of chalcogenide glasses (branded as Black Diamond \"BD\") are the leading alternative for germanium, and we are happy to help any potential customer that would look to transition away from using Germanium,\" stated Sam Rubin, Chief Executive Officer of LightPath Technologies.\"Previously, our BD6 raw material would only be available in the form of finished optical lenses or integrated into our customized solutions. However, the time it takes to produce prototypes for new optical designs is one of the challenges to making a change. To aid the transition of the market from Germanium into these materials, we will make our most popular glass, BD6, available for purchase as raw material. We believe that doing so will help accelerate the transition away from Germanium. We are also mindful that export restrictions could have a short term adverse effect on sales of our products that currently use Germanium.\"Our belief is that the industry needs to work together to resolve such critical supply chain challenges. Our recent expansion in Orlando has significantly increased our manufacturing footprint and prepared the infrastructure for further expansion of glass manufacturing and processing capacity.\"LightPath currently has capacity to produce up to 10 tons a year of BD6. According to different public estimates, the US defense market consumes between 50 to 150 tons of Germanium a year for the use in optics alone. Our team stands ready to work with our customers and the entire industry to deliver our part to strengthen supply chains and are ready to add capacity as needed.\"Mr. Rubin continued: \"The timing of the first phase completion of...