LightPath Completes Qualification of Its Mantis(TM) Camera in $500 Million Global Furnace Monitoring Market

LightPath's Mantis Camera to Provide Accurate and Reliable Monitoring of Boilers and Furnaces in Power Plants

ORLANDO, FL / ACCESSWIRE / May 15, 2024 / LightPath Technologies, Inc. (NASDAQ:LPTH) ("LightPath," the "Company," or "we"), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared technologies, has completed development and received qualification of a new version of its Mantis camera, specifically designed for monitoring high-temperature processes inside boilers and furnaces in power plants.

Industrial and power plant settings, with their extremely high and low-temperature processes, currently rely on using Pyrometers or cameras that can only image a small range of temperatures to monitor progress and process safety. However, LightPath's new camera, which was tested and qualified at customer sites that utilize central Appalachian Coal and Biomass in South Carolina, offers a superior solution. The Mantis camera provides more accurate and reliable monitoring of extreme-temperature processes across a much larger range of temperatures than current technology, including Utility & Recovery Boilers, Furnaces, and Kilns, enhancing process safety and efficiency for our customers.

LightPath announced the first version of its Broadband uncooled Mantis camera in December 2022, followed by additional versions designed for long-range detection and other specific customer applications. The Mantis camera enables thermal imaging to view the key mid wavelength without an expensive cryogenic cooling device like other cameras, significantly reducing per-camera expense. The field qualification of a new version of the camera signifies the considerable value in the innovation of developing an uncooled camera operating in the mid-wave and allows LightPath to tap into a new market, as well as expand its existing business in that market.

The global market for furnace monitoring cameras is estimated to be over $500 million a year across many industries including pulp manufacturing, power plants, steel mills, glass production and more. With the increasing global shift towards new power plants and the conversion of old coal burning plants, Following the G7 decision to further restrict 90% of fossil fuel electric generation facilities by 2035, the market for process monitoring cameras is poised for significant growth. LightPath, with its innovative new camera, is well positioned to tap into this expanding market and further strengthen its presence in the industry.