LightPath wins follow-on order and LOI to supply infrared lens assemblies in EU

LightPath (LPTH) received a follow-on order and Letter of Intent – LOI – for a sustained supply of infrared lens assemblies from a European defense customer for active duty use in first-person view drone applications. In tandem with the follow-on order, the customer submitted a non-binding LOI to expand its partnership with LightPath through collaboration on custom lens assemblies using LightPath BD6 as well as the localization of its lens assembly manufacturing to LightPath’s Latvia facility to ensure supply chain stability and reliability. As part of this LOI, the customer seeks to establish go-forward volume commitments.