News Release Details

ODiSI-B 5.0 offers enhanced performance and ruggedness for high resolution measurements of strain and temperature, providing improved characterization of composite components and structures

ROANOKE, Va.--(BUSINESS WIRE)--Jul. 19, 2016-- Luna Innovations Incorporated (NASDAQ: LUNA) today launched a significant upgrade to its ODiSI (Optical Distributed Sensor Interrogator) strain and temperature sensing platform. Luna’s ODiSI technology uses a lightweight, flexible, inexpensive, easy-to-install, distributed fiber sensor to provide critical stress, strain and temperature information to designers and manufacturers working with advanced materials. Luna’s ODiSI platform provides a number of advantages over traditional strain gages and thermocouples: distributed multi-point sensing; ultrahigh-definition measurements; reduced cost of sensor installation; and the ability to embed the sensor within composite structures. ODiSI provides these benefits with a per-sensor cost that is significantly lower than traditional foil strain gages.

The ODiSI-B 5.0 enhancements are the result of continued engineering development in response to customer feedback and include: more robust sensing and ruggedized cables and connectors; high-definition and high-speed sensing options; data visualization and CAD integration; and strain sensors with NIST-traceable calibration.

“One of our key growth strategies is to become the leading provider of sensing systems for testing composites and other advanced materials,” said My Chung, president and chief executive officer of Luna. “We introduced the ODiSI platform to address this market and now, through ongoing engineering development, we’re launching enhancements that offer greater performance and new capabilities. Luna is committed to evolving our solution and responding to the measurement needs of customers in our target markets, particularly those where composites are becoming commonplace like aerospace and automotive.”

The ODiSI-B 5.0’s development comes at a time that the aerospace and automotive markets continue to move toward the use of advanced materials. Unlike steel or aluminum, composite construction is non-uniform and requires new measurement technologies to ensure safety and reliability.

Users of the current ODiSI-B should contact Luna to discuss upgrade options to the enhanced system.

About Luna:

Luna Innovations Incorporated (www.lunainc.com) develops, manufactures and markets high definition fiber optic sensing products and fiber optic test and measurement instrumentation, and packages optoelectronic semiconductors into high-speed optical receivers (HSOR products), custom optoelectronic subsystems (Optoelectronics products) and Terahertz (THz) instrumentation that provide unique capabilities for the aerospace, automotive, energy, defense, and telecommunications industries. Luna is organized into two business segments, which work closely together to turn ideas into products: a Technology Development segment and a Products and Licensing segment. Luna's business model is designed to accelerate the process of bringing new and innovative technologies to market.

Forward-Looking Statements:

The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include the company’s expectations regarding the greater performance and new capabilities of the enhanced ODiSI platform, as well as Luna’s strategy to become the leading supplier of sensor testing for testing composites and other advanced materials. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results may differ materially from those expressed or implied by these forward-looking statements as a result of a number of factors. These factors include, without limitation, failure of demand for the company’s products and services to meet expectations, technological challenges and those risks and uncertainties set forth in the company’s periodic reports and other filings with the Securities and Exchange Commission ("SEC"). Such filings are available on the SEC’s website at www.sec.gov and on the company’s website at www.lunainc.com. The statements made in this release are based on information available to the company as of the date of this release and Luna undertakes no obligation to update any of the forward-looking statements after the date of this release.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160719006222/en/

Source: Luna Innovations Incorporated

Investor Contact:
Luna Innovations Incorporated
Dale Messick, CFO
1-540-769-8400
[email protected]