Competitively awarded CLEAR program agreement funds development of BlackDiamond™ glass for defense EO/IR systems ahead of December 2027 germanium sourcing restrictions

ORLANDO, FL / ACCESS Newswire / September 17, 2026 / LightPath Technologies, Inc. (NASDAQ:LPTH) ("LightPath," the "Company," "we," or "our"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced that it has been awarded a funded prototype agreement under the Critical Low-risk Electro-optic Alternatives for Resilience ("CLEAR") program.

CLEAR is sponsored by the Department of War ("DoW") Advanced Materials Office, established to accelerate the development of domestic alternative optical materials for the electro-optic and infrared ("EO/IR") systems used in defense surveillance, targeting and situational awareness. Many of these systems rely on germanium, a material for which China is the dominant global supplier and on which it has imposed export controls since 2023. Under the agreement, LightPath will continue to mature BlackDiamond™ chalcogenide glass materials and optics as germanium alternatives for DoW applications.

Prototype agreements are the DoW's mechanism for rapidly developing and demonstrating new capabilities outside of traditional procurement timelines. Under 10 U.S.C. § 4022(f), a prototype project that was competitively awarded and successfully completed may be eligible for a follow-on production contract or transaction without further competition.

Management Commentary

Sam Rubin, President and Chief Executive Officer of LightPath, said: "The Department of War is funding the maturation of an alternative to germanium for its own IR systems, and BlackDiamond was selected to do that work. That is a direct statement of government support for a germanium-alternative material in defense programs and it comes from the customer that will field these systems.

"The 2026 National Defense Authorization Act added germanium to the covered materials restrictions and separately directed the DoW to eliminate its reliance on covered nations for optical glass and optical systems. Supplier qualification cycles span multiple years, and we expect this award to support design-in discussions across our product lines, positioning the next generation of BlackDiamond-enabled products for follow-on production."

About LightPath Technologies

LightPath Technologies, Inc. (NASDAQ:LPTH) is a leading provider of next-generation optics and imaging systems for both defense and commercial applications. As a vertically integrated solutions provider with in-house engineering design support, LightPath's family of custom solutions range from proprietary BlackDiamond™ chalcogenide-based glass materials, sold under exclusive license from the U.S. Naval Research Laboratory, to complete infrared optical systems and thermal imaging assemblies. The Company's primary manufacturing footprint is located in Orlando, Florida with additional facilities in Texas, New Hampshire and Latvia. To learn more, please visit www.lightpath.com.

Forward-Looking Statements

This press release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "guidance," "plan," "estimate," "will," "would," "project," "maintain," "intend," "expect," "anticipate," "prospect," "strategy," "future," "likely," "may," "should," "believe," "continue," "opportunity," "potential," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, without limitation, statements regarding: (i) the anticipated scope, funding, period of performance and outcomes of the CLEAR prototype agreement; (ii) the potential for follow-on production awards or other government funding; (iii) expected demand for germanium-alternative infrared materials, including as a result of NDAA sourcing restrictions, and the Company's role in supporting that demand; and (iv) expectations regarding future growth, revenue and gross margins. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the availability of government funding and the government's ability to modify, delay or terminate the agreement or to decline to pursue follow-on production; the impact of varying demand for the Company products; the ability of the Company to obtain needed raw materials and components from its suppliers; the impact of tariffs and other governmental trade restrictions; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; geopolitical tensions and conflicts; the effects of steps that the Company could take to reduce operating costs; the inability of the Company to sustain profitable sales growth, convert inventory to cash, or reduce its costs to maintain competitive prices for its products; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by the Company in its public filings with the Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K and other filings with the SEC. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the SEC, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact:

Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
+1 (949) 259-4987
LPTH@mzgroup.us

SOURCE: LightPath Technologies, Inc.