LightPath Technologies, Inc. has, in partnership with Maris-Tech, integrated critical hardware and firmware necessary to support A.I. software and algorithms in all of the Company's infrared cameras, marking a significant step in the evolution of its technology. The new AI-enabled feature will be available as an option on all cameras and is referred to by name as EdgeIR. These new EdgeIR cameras will have an A.I. accelerator IC integrated into the hardware, enabling customers to upload and run their preferred trained A.I. models, on the edge, at the camera level.

This new capability, available as an option with all of LightPath's cameras, will be integrating the Hailo-8 A.I. Accelerator, enabling real-time, low latency & high-efficiency A.I. inferencing on the camera's video stream. As the Company continues to field inquiries about its infrared camera systems, integration with A.I. systems has become a crucial enabling technology for defense and industrial applications. Over the last three years, LightPath's defense sales have increased from 8% to 30% of total revenue, primarily in the U.S. defense markets.

The U.S. defense markets represent the fastest growing product for the Company, following the announcements of more than $100 million in potential revenue secured with top partners such as the DoD and Lockheed Martin in two large programs of record. LightPath recently announced certification as an E.U. military solutions provider, where EU defense spending is expected to continue its recent growth. Large E.U. countries like France, Germany and Poland all forecast to increase defense spending upgrade their military through both spending and personnel.

Lastly, the Company announced a new industrial furnace and power plant version of the Mantis camera. The furnace monitoring camera market is estimated at over $500 million annually across industrial applications.