Leading Methane Emissions Conference Taking
Place October 15-16, 2024, in
Fort Collins, Colorado
ORLANDO,
Fla., Oct. 15, 2024 /PRNewswire/ -- LightPath
Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or
"we"), a leading provider of next-generation optics and imaging
systems for both defense and commercial applications, today
announced the launch of a new Optical Gas Imaging ("OGI") camera
platform to detect fugitive gas emissions for oil and gas
applications at the CH4 Connections Conference taking place
October 15-16, 2024, in Fort Collins, Colorado.
In conjunction with the Company's exhibition at the event,
LightPath will introduce the new OGI Camera, a specialized
technology utilizing infrared (IR) cameras to detect and visualize
emissions such as methane in industrial settings. OGI cameras are
capable of visualizing gases that are invisible to the naked eye by
detecting the infrared energy absorbed or emitted by the gases.
LightPath's purpose-built OGI camera leverages a non-germanium lens
to improve upon current technologies by offering a cost-effective,
higher sensitivity and ultimately more effective solution.
OGI is particularly useful for detecting methane, volatile
organic compounds, hydrocarbons, and other industrial gases that
can be harmful to the environment or human health. It is widely
used for leak detection and repair programs, regulatory compliance,
and safety inspections in industries such as oil and gas, chemical
manufacturing, and power generation.
The 11th annual CH4 Connections conference brings together
prospective customers, thought leaders, researchers, industry
experts, regulators, policymakers, and environmental advocates to
address current research on methane emissions, technologies to
detect and mitigate emissions, policy and regulatory frameworks,
and business implications and opportunities. Straits Research found
the gas sensor market totaled $2.5
billion in 2023, with significant further upside as
additional regions outside the United
States and European Union begin to implement stricter
regulations.
"OGI has become an essential tool in industries where managing
gas emissions is critical for both regulatory and operational
reasons, and to that end, we are excited to introduce our newest
camera variant to attendees at the CH4 conference," said
Sam Rubin, President and Chief
Executive Officer of LightPath. "The camera will help meet a
critical need as the EPA and EU have recently established
regulations for the use of OGI, particularly in industries such as
oil and gas, to help monitor and reduce fugitive emissions of
harmful gases such as methane, volatile organic compounds, and
other air pollutants. Several states, such as California, Colorado, and Pennsylvania, have their own regulations that
either align with or exceed EPA standards for OGI use.
"Our OGI purpose-built camera with a non-germanium lens improves
on current emission detection technology, as the industry's legacy
solutions are either too costly for wide deployment, or less
sensitive and only able to detect larger leaks. We address both of
these pain points with a cost effective, incredibly sensitive
camera that doesn't require use of a proprietary software –
allowing prospective customers to satisfy regulations with a
practical solution that can monitor for years on end," concluded
Rubin.
LightPath will exhibit at booth #48L from October 15-16, 2024. Company staff will be
available for meetings to discuss the newest OGI camera
variant.
About CH4 Connections Conference
GTI Energy and Colorado State
University Energy are hosting the 11th annual CH4
Connections conference. For 11 years, the conference has promoted
the open exchange of ideas from leading thought leaders,
researchers, industry experts, regulators, policymakers, and
environmental advocates. Speakers will address current research on
methane emissions, technologies to detect and mitigate emissions,
policy and regulatory frameworks, and business implications and
opportunities.
National focus has escalated around characterizing and managing
methane emissions. Better measurement of methane emissions is an
essential first step but CH4 Connections will highlight the
importance of measurement data being understandable and usable by
the operators that are going to have to mitigate those emissions.
The conference will focus on how to effectively decarbonize our
energy systems and the role of methane emission mitigation in these
efforts. For more information visit the conference website.
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, Latvia and China. 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 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 impact of
varying demand for the Company products; the ability of the Company
to obtain needed raw materials and components from its suppliers;
actions governments, businesses, and individuals take in response
to the pandemic, including restrictions on onsite commercial
interactions; general economic uncertainty in key global markets
and a worsening of global economic conditions or low levels of
economic growth; geopolitical tensions, the Russian-Ukraine
conflict, and the Hamas/Israel
war; 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 LightPath Technologies, Inc. in its public filings with
the Securities and Exchange Commission, including its Annual Report
on Form 10-K and Quarterly Reports on 10-Q. 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 Securities and
Exchange Commission, 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/lightpath-technologies-to-launch-new-optical-gas-imaging-camera-for-oil--gas-applications-at-ch4-connections-conference-302274922.html
SOURCE LightPath Technologies