See the full press release on Bloomberg.

LightPath Technologies, Inc. (NASDAQ: LPTH), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared technologies announced that QuantLR, an Israeli-based Quantum technology company that enables global mass deployment of Quantum Cryptography, has chosen LightPath as its partner to develop a free space quantum encryption System.

LightPath and QuantLR will join forces to develop a ground-to-satellite, ground-to-air, ground-to-ground, and satellite-to-satellite free space optical communication channels, which will be used for a generation of quantum encryption keys, enabling secure quantum communication (QKD). It is intended that this project can then be further developed for use in high-rate data transmission, optical communication both between satellite and ground station, as well as satellite-to-satellite communications.

Quantum Key Distribution (QKD) is the only proven technology that provides the ultimate level of security for data in transit, including security against any attack or eavesdropping attempts by contemporary, future, classical or quantum-based computers. Another threat that is secured by QKD is a “hack now- decrypt later” attack where the attacker collects the data now and decrypt in a later stage. This puts a sense of urgency in the implementation of QKD.

Yanir Farber, Co-Founder and COO of QuantLR, said, “We are excited to partner with LightPath for the development of this crucial technology. We believe the system will leverage our existing fiber optic quantum technology and demonstrate the ability to distribute quantum encryption keys by air, in a method that can later be used for low earth orbiting (LOE) satellites, aircraft and point to point contacts on the ground.”

Sam Rubin, CEO of LightPath commented, “Quantum communication is set to become an integral component of secure communications and part of the global drive towards the use of quantum computing. The technology LightPath is developing for this effort will also be further applied to infrared imaging, enabling new capabilities in airborne infrared imaging, which aligns well with LightPath’s strategic direction.”

The partnership stems from a joint program between Space Florida and the Israeli Innovation Authority. The joint program was started in 2013 and established a recurring joint fund to support research, development, and commercialization of aerospace and technology projects that benefit both Israel and Florida. QuantLR and LightPath submitted their proposal by providing the world’s lowest-cost secure Quantum Cryptography solution.

About QuantLR

Headquartered in Israel, QuantLR aims to provide versatile cost-effective quantum cryptographic solutions based on quantum key distribution (QKD) technology to protect communicated data.

This solution is proven to provide the ultimate level of security against any attack by contemporary, future, classical or quantum-based computers. QuantLR’s solutions will be offered to the market as a component embedded within communication hardware vendor products, as well as stand-alone products.

About LightPath Technologies:

LightPath Technologies, Inc. is a leading global, vertically integrated provider of optics, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries. LightPath designs and manufactures proprietary optical and infrared components including molded glass aspheric lenses and assemblies, custom molded glass freeform lenses, infrared lenses and thermal imaging assemblies, fused fiber collimators, and proprietary Black DiamondTM (“BD6”) chalcogenide-based glass lenses. LightPath also offers custom optical assemblies, including full engineering design support. The Company is headquartered in Orlando, Florida, with manufacturing and sales offices in Latvia and China.

LightPath’s wholly-owned subsidiary, ISP Optics Corporation, manufactures a full range of infrared products from high performance MWIR and LWIR lenses and lens assemblies. ISP’s infrared lens assembly product line includes a thermal lens system used in cooled and un-cooled thermal imaging cameras. Manufacturing is performed in-house to provide precision optical components including spherical, aspherical and diffractive coated infrared lenses. ISP’s optics processes allow it to manufacture its products from all important types of infrared materials and crystals. Manufacturing processes include CNC grinding and CNC polishing, diamond turning, continuous and conventional polishing, optical contacting and advanced coating technologies.

Investor Contact:

Shlomi Cohen

shlomi@quantlr.com

+972542200909