LightPath Technologies Secures $0.5M Phase 2 Funding From U.S. Defense Department To Qualify Additional BlackDiamond Glasses As Germanium Substitutes
Portfolio Pulse from Benzinga Newsdesk
LightPath Technologies has received $0.5 million in Phase 2 funding from the U.S. Defense Department to qualify additional BlackDiamond glasses as substitutes for germanium. This follows a successful Phase 1 where three materials were qualified. Phase 2 will cover six more materials advancing to MRL-9 for defense applications.
October 03, 2024 | 12:45 pm
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LightPath Technologies has secured $0.5 million in funding from the U.S. Defense Department for Phase 2 qualification of BlackDiamond glasses as germanium substitutes. This funding supports the advancement of six more materials to MRL-9 for defense applications.
The funding from the U.S. Defense Department indicates strong governmental support and potential future contracts, which is positive for LightPath Technologies. The successful Phase 1 and the continuation to Phase 2 suggest confidence in the company's technology, likely boosting investor sentiment.
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