Thursday, April 17, 2014

LighTimes: Yole Development Predicts New Wave of MOCVD Equipment Purchases with Big-Three Dominance Continuing

April 10, 2014...Yole Development forecasts a new wave of investment in MOCVD equipment for LED fabrication in 2014 through 2016. The market for LEDs for general lighting will drive this wave of investment, according to Yole. Unlike the overly optimistic run of MOCVD investment in the business in 2010 to 2011, based upon expectations of the LCD display market, improvement in equipment throughput and yields as well as increased competition and industry consolidation will limit the impact of the latest investment cycle.
Three companies will continue to monopolize the market. Aixtron, Veeco, and Tayo Nippon Sanso had about 97 percent market share among them in 2013. Yole predicts that the equipment market will peak at about $580 million in 2015 with MOCVD reactors representing more than 80 percent of the total. Yole indicated that Chinese and Taiwanese manufacturers are purchasing the bulk of these MOCVD reactors as they switch to 4" systems.
Yole notes that LED epitaxy requires dedicated tools supplied by companies that have much knowledge about fabricating LEDs. According to Yole, more than 20 entrants (mostly from Asia) into the MOCVD reactor business since 2010 have attained little success. Their total market contribution rose from 2 percent in 2010 to just 3 percent in 2013.
Yole cites two reasons for these company's unsuccessful entrance into the market. First, the new entrants have missed the first two LED growth cycles (small display and large display applications) that have allowed the main three to build expertise and their networks (sales offices, training centers, etc.). Even big names, such as Applied Materials, was not able to access these markets. Secondly, revenue from the 2010 to 2011 investment cycle, which included a total of more than $2 billion for MOCVD reactors, have allowed Aixtron and Veeco to slash prices and start a price war with which others can not compete.
Decreasing the cost of ownership is the main strategy that new entrants into the MOCVD market are adopting, Yole says. MOCVD Equipment makers can reduce the cost of ownership with innovations such as a new heating system, new gas flow design, and increased automation. Yole does not expect new entrants to have a substantial increase in future market share as the expertise and capital of Aixtron and Veeco (the Big Two) far surpass their competitors.

In the short term, Yole anticipates only two types of MOCVD equipment suppliers (outside of the Big three) will survive. These are suppliers that collaborate with some big LED manufacturers and Chinese suppliers that can scrape together pieces of the huge local market.

Wednesday, April 16, 2014

LPTH Press Release: LightPath Technologies Announces Private Placement to Pudong Science and Technology (Cayman) Co. Ltd.


LightPath Logo
For Immediate Release
LightPath Technologies Announces
Private Placement to Pudong Science and Technology (Cayman) Co. Ltd.
ORLANDO, FL – April 16, 2014 LightPath Technologies, Inc. (NASDAQ: LPTH) (“LightPath,” the “Company” or “we”), a leading vertically integrated global manufacturer, distributor and integrator of proprietary optical components and high-level assemblies, announced today that it executed a Securities Purchase Agreement (the “SPA”) with Pudong Science & Technology (Cayman) Co., Ltd. (“Pudong”) for a private placement (the “Offering”) of the Company’s Class A Common Stock (the “Common Stock”).  LightPath will sell to Pudong a number of shares to be determined that will result in Pudong beneficially owning 19.9% of the Company’s outstanding shares of Common Stock immediately after issuance of the shares of Company Stock pursuant to the SPA.  Currently, Pudong is the beneficial owner of 9.37% of the Company’s outstanding shares of Common Stock, as disclosed in a Schedule 13G filed with the Securities and Exchange Commission in February 2014.
The initial per share purchase price is $1.62, subject to adjustment at the closing of the sale pursuant to the terms of the SPA.  As adjusted, the final per share purchase price may be higher or lower than the initial per share purchase price, but in no event shall the per share purchase price be less than $1.40.  The closing of the sale will occur upon satisfaction of certain closing conditions, including receipt of certain governmental approvals. 
LightPath intends to use the proceeds of the sale to provide working capital to support the continued growth of its business, including new product development and capital expenditures related to acquisition of new equipment, both of which are critical to the Company’s growth plans.
The shares to be purchased in the Offering have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. LightPath has granted Pudong certain “piggyback” registration rights should the Company file with the Securities and Exchange Commission a registration statement to register its equity securities for its own account or the account of others under the Securities Act of 1933, as amended, at any time after the one-year anniversary of the closing date of this private placement with Pudong.  The shares sold to Pudong in the Offering are subject to a three-year lock up period commencing on the closing of the sale. 
This release does not constitute an offer to sell or the solicitation of an offer to buy any securities of LightPath.  The shares of Common Stock are being sold pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws.
Jim Gaynor, President and Chief Executive Officer of LightPath, commented, “LightPath is extremely pleased and excited about Pudong’s investment in our company.  The funds will assist LightPath in executing its strategy of becoming a leading global supplier of optical components and increase our penetration in our various markets including telecom, digital imaging and custom assemblies.” 
Dr. Xudong Zhu, President of Pudong, added, “We are pleased to have the opportunity to invest more in LightPath. Our increased investment in LightPath reflects the growth they have demonstrated and our confidence in their continued expansion.”
About Pudong Science & Technology (Cayman) Co., Ltd.
Pudong is an investment vehicle wholly owned by Shanghai Pudong Science & Technology Investment Co., Ltd., which is a Shanghai-based investment management company with a leading professional management team, diversified business lines, strong financial position and rich strategic resources. For more information, visit www.pdsti.com.
About LightPath Technologies:
LightPath Technologies, Inc. (NASDAQ: LPTH) provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses. LightPath also offers custom optical assemblies, including full engineering design support.  For more information, visit www.lightpath.com.
This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. 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.

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Monday, April 14, 2014

Physics Colloquium - Friday, April 18th, 4:30 pm, PSB 161

Dr. Eva Y. Andrei - Rutgers University

Graphene and the Magic of Physics in Two Dimensions
Since its first scotch-tape extraction from graphite in 2004, Graphene – a one atom-thick crystal of carbon - has metamorphosed from the poor relative of diamond into a “wonder material.” By now it has amassed an impressive string of superlatives – lightest, thinnest, strongest material, best electrical and thermal conductor - as well as the 2010 Nobel Prize for its discoverers. Due to its remarkable properties graphene is rapidly moving from research laboratories into industrial, medical and electronics applications. For physicists much of the continuing excitement about Graphene stems from its exotic charge carriers - Dirac fermions - which resemble two dimensional massless neutrinos. The presentation will review the story and physics of graphene with emphasis on its unusual electronic properties and will describe the experiments and techniques which provided access to the two-dimensional world of Dirac fermions, their interactions with each other and with the environment.


Please contact Pat at 3-2325 or physics AT ucf DOT edu

Thursday, April 10, 2014

TOMORROW! Distinguished Seminar Series: "Silicon Photonics: The Optical Spice Rack" by Michal Lipson 4.11.14/11:00am-12:00pm/ CREOL 102

Distinguished Seminar Series: "Silicon Photonics: The Optical Spice Rack" by Michal Lipson
Friday, April 11, 2014 11:00 AM to 12:00 PM
CREOL Room 102

Michal Lipson
School of Electrical and Computer Engineering, Cornell University

Abstract:
Silicon is evolving as a versatile photonic platform with multiple functionalities that can be seamlessly integrated. The tool box is rich starting from the ability to guide and amplify multiple wavelength sources at GHz bandwidths, to optomechanical MEMS and opto-fluidics devices. As an example of novel device capabilities, I will discuss the generation of strong optical forces in these ultra small light confining structures. We have recently shown that optical forces can enable controllable, static manipulation of photonic structures, an important step towards enabling recently proposed functionalities for optomechanical devices, such as self-aligning and optical corralling behaviour. These advances should enable future micro-optomechanical systems (MOMS) with novel and distinct functionalities.

Biography:
Michal Lipson is a Professor at the School of Electrical and Computer Engineering here at Cornell University. Her research focuses on novel on-chip Nanophotonics devices. She holds numerous patents on novel micron-size photonic structures for light manipulation, and is the author of over 150 technical papers in journals in Physics and Optics. She has pioneered several of the critical building blocks for silicon photonics including the GHz silicon modulators. Professor Lipson's honors and awards include the MacArthur Fellow, OSA Fellow, IEEE Fellow, IBM Faculty Award, and NSF Early Career Award.


Wednesday, April 9, 2014

TOMORROW! "Computational Imaging for Chip-scale Microscopy and X-ray Scattering Imaging" by Shuo Pang 4.10.14/11:00am-12:00pm/ CREOL 102

"Computational Imaging for Chip-scale Microscopy and X-ray Scattering Imaging" by Shuo Pang
Thursday, April 10, 2014 11:00 AM to 12:00 PM
CREOL Room 102

Shuo Pang

Abstract:
Imaging technology has been an important tool in scientific research as well as addressing the needs in healthcare, security, and manufacturing. Imaging systems project real-world, multi-dimensional signals onto the measurement space of the sensors. Computational Imaging is concerned with optimizing the measurement basis in order to maximize the specific information of interest while minimizing system resources. In this talk I will demonstrate the capabilities of Computational Imaging using two examples, namely low-cost fluorescence microscopy and high-throughput X-ray scattering imaging.
The Fluorescence Talbot Microscope (FTM) is a portable fluorescence microscopy platform on a low-cost CMOS imaging sensors (~ $2). Because of its potential for inexpensive mass production, the FTM is a viable tool for low-resource setting diagnosis.
Coded Aperture X-ray Scattering Imaging (CAXSI) system taking multiplexed measurements can greatly improve the imaging speed while providing material-specific scattering signature. CAXSI is a promising technology for high-throughput checkpoint baggage scanners.

Biography:
Shuo Pang is a Postdoctoral Fellow in the department of Electrical and Computer Engineering at Duke University. He received his Ph.D. degree in Electrical Engineering from California Institute of Technology in 2013. He is the first author of 7 peer-reviewed journal publications in biomedical optics and micro/nano technologies, and has 2 patents (5 pending) in imaging devices. His current research interests include creating novel imaging systems in the visible and x-ray regime using computational methods.

For additional information:
Dr. M.G. Jim Moharam
Professor of Optics
407-823-6833

moharam AT creol DOT ucf DOT edu

Tuesday, April 8, 2014

Physics Colloquium - Friday, April 11th, 4:30 pm, NOTE ROOM CHANGE TO Engineering 2, Room 105

Dr. Stefano Curtarolo
Duke University

Buena Vista Materials Club: Enjoying Materials Development
In this presentation, we show how to use on-line resources to search for novel thermoelectrics, topological-insulators, magnets,
and binary/ternary phase diagrams. Research sponsored by DOD/DOE.

NOTE ROOM CHANGE TO Engineering 2, Room 105 


Contact:  Pat physics AT ucf  DOT edu, 3-2325

NPI Community Call April 9

On behalf of the National Photonics Initiative (NPI), I would like to invite you to join a call to learn about our recent activities and future plans. These past few months have been busy ones with visits to Capitol Hill and outreach to the Obama Administration.  At the same time, the four NPI Task Forces (IT, Bio, Sensors and High Powered Lasers) have been hard at work fine tuning their "ask" for the government.

We did want to take time out to update our stakeholders on the recent efforts.  We have reached out to those that have been involved in the NPI but we are trying to cast a wide net to reach as many of those from our community as possible.  If you have colleagues who would like to join the call, I encourage you to share this email with them.

Date:     Wednesday, April 9
Time:     2 pm EST 

To register, please email: npi@lightourfuture.org with your name, company and phone number. Registration closes at noon EST on April 9. 

I encourage you to visit the NPI website: http://lightourfuture.org.