Wednesday, April 23, 2014

LighTimes: DOE Releases CALiPER Report about Dimming Performance of LED-based PAR38 Lamps.

April 22, 2014...The U.S. Department of Energy has released its CALiPER report covering the dimming of PAR38 LED lamps. The report notes that not all LED lamps are designed to be dimmable, and the LED lamps that are designed to be dimmable can exhibit different characteristics. The DOE points out that components such as controls and devices and other LEDs on the same circuit can effect dimming performance of a given LED lamp.
The driver, which interprets the signal from a control device is often the source of differences in performance, especially in integral lamps controlled by phase-cut dimmers. Such systems often have compatibility issues, where phase-cut dimmer traits interfere with the intended operation of the LED sources, or the LED source's performance characteristics interfere with the intended operation of the phase-cut dimmer.
According to the DOE, another issue is that "dimmable" has no standard definition and claims of dimmability cannot guarantee any minimum level of performance. In addition to the differences in the maximum and minimum light output in the dimming range, the rate of dimming may change during dimming. Performance attributes such as LED package efficacy, driver efficiency, complete product efficacy, chromaticity, flicker, and power quality may also change during dimming.
The DOE notes that some phase-cut dimmers change the behavior of some LED lamps, and vice versa.These compatibility problems can result in undesirable behaviors such as changes in dimming rate, dead travel (little or no change in light output despite changes in dimmer setting), pop-on or dropout (sudden change in output not corresponding to the limit of the dimmer signal), flashes or ghosting, audible noise, reduced lifetime or reliability of the dimmer, and reduced lifetime or reliability of the LED product. These challenges result in highly unpredictable LED dimming performance.

LighTimes: Revenue from LED-based Production Lighting to Double Over Period of 2013 to 2020, ElectroniCast Consultants Predicts

April 22, 2014...Market research firm, ElectroniCast Consultants forecasts that annual sales of LED-based production lighting in the U.S. will double over the period 2013-2020. LED-based production lighting includes lamps and luminaires used in broadcast, TV, movies, videography and photography. In the United States alone, ElectroniCast says that the value of LED-based lamps used for production lighting will more than double from $38.05 million in 2013 to $80.28 million in 2020.
The company says that the broadcast/TV and movie categories are currently experiencing double digit annual growth. The videography and professional photography sectors are expected to grow more slowly due to a stronger presence in use, especially with the smaller LED-based light units that attach to cameras.
The requirements for set lighting and lighting effects are the main drivers of the market for LED-based lights in the film industry. LED lighting allows a single light source to create a tremendous variety of colors. Additionally, continuous cost and performance improvements are taking the LED lighting fixture business from a niche-only solution to a general solution.
LED-based production lighting consumes less power and produces much less heat than conventional lighting. So, LED lights help reduce the air conditioning costs. ElectroniCast estimates that larger LED lights lead in relative market share (52%) compared to the smaller LED lights, in consumption value for 2014. Smaller devices have significantly lower average selling prices than the larger fixtures.

“In terms of volume, the smaller units will hold a substantial market share lead during the forecast period; however, because of their relatively low average selling price compared to the larger units, they have a smaller market share in terms of value,” said Stephen Montgomery, president and principal analyst of LED Market Research at ElectroniCast Consultants

LighTimes: Strategies Unlimited Predicts HB LED Market to Reach $26 Billion in 2018

April 22, 2014...Strategies Unlimited (SU) predicts that the total market revenue from packaged LEDs will grow 12.9% annually from 2013 to 2018. According to SU, this growth is bolstered by 27% CAGR in LEDs for lighting applications. SU says that the global packaged LED industry grew from just $1.2 billion in 2000 to $14.2 billion in 2013. In 2009, illumination accounted for just $665 million in revenues, and this reportedly jumped to $4.4 billion in general lighting in 2013.

According to Strategies Unlimited analyst Katya Evstratyeva, “We forecast the growth for LEDs in lighting to be 27% of CAGR from 2013 to 2018, driven mostly by an increased consumer confidence and continuously increasing sales of replacement lamps, downlights, industrial, commercial, and outdoor products.”


SU notes that the top 15 companies in the LED business comprise about 81% of global revenues, and the top 25 companies account for 93% of revenues. According to SU, many companies are struggling to find their identities, and SU forecasts market consolidation in the coming years.

Monday, April 21, 2014


SPIE Student Section Symposium on Medical Applications of Optics & Photonics

May 5, 2014
CREOL Room102, 103
8:30 – 9:00 am           Breakfast and welcome remarks
                                    Dr. Bahaa Saleh, dean & director of CREOL

Presentations
Chair: Dr. Aristide Dogariu, University of Central Florida
9:00 am                       Harnessing Light  -  Advanced Photonics in Cell Biology and Photomedicine
                        Dr. Aristide Dogariu, CREOL, College of Optics & Photonics, UCF
9:25 am                       Photoacoustic Imaging of Breast Cancer: Detection and Image-guided Surgery
                        Dr. Lei Xi, Department of Biomedical Engineering, University of Florida
9:50 am                       Optical Approaches for Studying Amyloid Fibril Assembly Near Physiological                                         Conditions
                        Dr. Martin Muschol, Department of Physics, University of South Florida
10:15am          Optical Sensing of Molecules
                        Dr. Konstantin L. Vodopyanov, CREOL, College of Optics & Photonics, UCF
10: 40 am        New Photonic Developments for Life Sciences Application
                        Mr. Alexandre Fong, Gooch & Housego (Orlando), LLC

11: 15 am – 12 pm     Panel discussion on “Future of Medical Photonics”
Moderator: Dr. Konstantin L. Vodopyanov

Panelists:  Dr. Aristide Dogariu, Dr. Lei Xi, Dr. Martin Muschol, Mr. Alexandre Fong

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.

###

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