LightPath Technologies, Inc. Delivers Lenses To U.S. Government For The First Gradium Solar Concentrator.ALBUQUERQUE, N.M.--(BUSINESS WIRE)--March 25, 1998--
New Technology Designed To Make Space Satellites
More Powerful and Profitable
LightPath Technologies, Inc. (Nasdaq: LPTHA/LPTHU) has delivered the first solar concentrator lenses made of GRADIUM glass. The lenses are designed to launch a generation of more powerful, longer-lasting space satellites that carry larger revenue-generating payloads. The lenses were produced under the second phase of a U.S. government contract monitored by the U.S. Air Force Research Laboratory, Kirtland Air Force Base Kirtland Air Force Base is located in the southeast quadrant of Albuquerque, New Mexico, adjacent to the Albuquerque International Sunport. The base is the third largest installation in Air Force Materiel Command, covering 51,558 acres (209 km²) and employing over 23,000 people, , New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). .
A solar concentrator based on GRADIUM lenses will capture, funnel and concentrate sunlight. Concentrating the light increases the ability of onboard photovoltaic The generation of voltage by a material that is exposed to light in the visible and invisible ranges. See photoelectric and photovoltaic cell. (PV) cells to convert sunlight into electricity to power the satellite. Additionally, the unprecedented ability of GRADIUM lenses to provide a wide field of view reduces the need for the satellite to expend ex·pend
tr.v. ex·pend·ed, ex·pend·ing, ex·pends
1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend.
2. precious fuel to continually "re-point" the PV cells to the Sun.
Current state-of-the-art space satellites generally use flat solar panels to capture sunlight but do not employ lenses to concentrate the light. The current GRADIUM product shipment is for one of the first solar PV concentrator systems for space satellites.
The federal government project is through the prime contractor, United Innovations Division of DR Technologies, a San Diego-based, privately held research and development firm. The goal of the public/private program is to expand government and commercial satellite payload (1) Refers to the "actual data" in a packet or file minus all headers attached for transport and minus all descriptive meta-data. In a network packet, headers are appended to the payload for transport and then discarded at their destination. capacity for telecommunications (including voice and video), data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. and remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. .
By virtue of the unprecedented light-navigating capabilities of LightPath's patented GRADIUM glass, and its recent availability in the lighter weight "Titania" glass family, a GRADIUM concentrator offers these key advantages for the space satellite industry:
--Reduction in both satellite solar module weight (approximately 50%) and square footage of solar panels (approximately 20%);
--Decreased launch costs -- or increased room for heavier payload -- resulting from lowered weight and solar panel size;
--Payload capacity for more powerful transmitters, which can reduce the cost and size of Earth stations;
--Increased satellite longevity, resulting from lowered usage of on-board fuel to re-point the satellite's solar panels to the sun;
--Need for fewer expensive PV cells;
"We believe GRADIUM technology will give space satellite designers a new degree of freedom because of a GRADIUM concentrator's potential to increase electrical power without adding weight," said Dr. Ugur Ortabasi, the DR project manager. "This enabling technology should allow for larger payloads and more productive, profitable missions that can last several years longer than current satellites of similar design."
LightPath received a $280,000 contract in 1997 to develop the GRADIUM concentrator lenses shipped this month. DR is using these lenses to build a working solar module which DR and the federal government will field test on the ground. The next step is introduction of the modules to the commercial sector.
Air Force Encourages Rapid Technology Transfer to Commercial Satellite Industry
Said Mr. Ralph James, Space Power Group Leader at the Space Vehicles Directorate of the US Air Force Research Laboratory, "After the concentrators perform in the upcoming field tests as we expect them to, our technical staff will work with commercial satellite manufacturers to ensure their knowledge of the capabilities and availability of GRADIUM concentrators for the next generation of satellites."
"We're pleased by the confidence expressed by the technical monitors, and other members of the space community, in the ability of the GRADIUM products to advance solar energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun. efficiency in space satellites," said Donald E. Lawson, LightPath's President and Chief Operating Officer Chief Operating Officer (COO)
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. .
Leslie Ann Danziger, LightPath's Chairwoman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. added, "Beyond the near-term benefits for the earth-orbit commercial satellite industry, GRADIUM concentrators also have the potential to enhance 'deep-space,' interplanetary in·ter·plan·e·tar·y
Existing or occurring between planets.
of or linking planets
Adj. 1. solar power technology. In addition, we believe our concentrator lens technology is transferable to, and can improve, terrestrial solar energy, an industry in which LightPath has its roots."
GRADIUM glass is the only material that can precisely "steer" light internally, collect and concentrate energy, separate wavelengths of high-speed data and be manufactured cost-effectively in all sizes and volumes. LightPath Technologies, Inc. manufactures GRADIUM glass products at its headquarters in Albuquerque. The Company has 14 patents associated with the process to manufacture GRADIUM glass and currently has 11 additional patents pending. LightPath common stock trades on the NASDAQ Small Cap Market under the stock symbol LPTHA. LightPath units, comprised of common stock and warrants, trade under the symbol LPTHU. -0-
This news release includes statements that may constitute forward-looking statements made pursuant to the safe harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission.
CONTACT: For Media Inquiries:
Frank Sommerfield Communications, Inc.
For Investor Inquiries:
RCG RCG Responsible Conduct of Gambling
RCG Revolutionary Communist Group (Northern Ireland)
RCG Raiffeisen Central Genossenschaft (German: Raiffeisen Cooperative)
RCG Race, Class and Gender Capital Markets Group, Inc.