POET
Technologies Announces First Volume Purchase Order
For Its
Optical Engines
Toronto, Ontario, May 11, 2023 --
InvestorsHub NewsWire --
POET Technologies Inc. ("POET"
or the "Company")
(NASDAQ:
POET | TSXV: PTK), the designer and developer
of the POET Optical Interposer™ and Photonic Integrated Circuits
(PICs) and
light sources for
the data center, tele-communication and artificial intelligence
markets, today announced the first
volume production order for its optical engines placed with the
Company's 80%-owned joint-venture company,
Super Photonics Xiamen ("SPX"). Valued at more than US$3
million, the purchase order was placed by Beijing FeiYunYi
Technology Ltd. ("BFYY"), which will produce optical transceiver
modules using POET-designed optical engines for sale to telecom and
data center markets globally. This initial volume purchase
order was placed against BFYY's 3-year forecast of US$30 million in
expected optical engine purchases.
With deep connections to the
telecom industry in China, BFYY is investing heavily in transceiver
module design and manufacturing to build, market and sell optical
transceiver modules specifically focused on large telecom and data
center service providers. The modules incorporate POET Optical
Interposer-based optical engines which are assembled with
components, tested and sold by POET's 80%-owned JV company,
SPX.
"We are pleased to partner with
POET and Super Photonics to utilize their unique optical engines in
our transceivers," said Wei Zhang (Wesley Zhang), CEO of BFYY.
"POET and Super Photonics have demonstrated the superior
performance and design of these optical engines. There is ongoing close collaboration among
our engineering and manufacturing teams to complete the design and
start production. Feedback from our customers is extremely
positive and we want to quickly ramp to high-volume production to
service the telecom market."
POET had previously announced
POET ONE™, a single-chip optical engine solution incorporating
complete transmit and receive functionalities for implementation in
a 100G optical transceiver. The POET ONE optical engine offers
significant performance advantages and minimizes the transceiver
design cycle time for BFYY. In addition to the cost benefits of
POET's wafer-scale assembly, POET ONE will enable BFYY to speed the
design and qualification cycle with customers and ramp to
high-volume production and sales.
"With this purchase order, POET
and SPX have both achieved major commercial milestones for our
optical engines and for the companies overall. A production order of this size validates the
commercial viability of our optical engines and other POET Optical
Interposer-based products that are specifically designed to be
scalable in volume, cost, and power consumption, well ahead of
current industry demands," said Vivek Rajgarhia, President and GM
of POET and Vice-Chairman of SPX. "Our fundamental differentiation
in bringing wafer-scale die attach, passive optical assembly, and
chip-scale manufacturing represents the true "semiconductorization"
of photonics. Our partnerships with world-class component vendors,
combined with the POET Optical Interposer platform, allows us to
serve the needs of customers like BFYY in a highly competitive
market with a truly differentiated technology."
POET and SPX expect to complete
the design verification testing and reliability qualification of
POET ONE by the fourth quarter of 2023 and then start production
shipments to BFYY in early 2024.
Watch a video of POET's Chairman
and CEO Dr. Suresh Venkatesan discussing the agreement and more
here:
https://youtu.be/I9wbQFYTne8
About
POET Technologies Inc.
POET
Technologies is a design and development company offering
integration solutions based on the POET Optical Interposer™, a
novel platform that allows the seamless integration of electronic
and photonic devices into a single multi-chip module using advanced
wafer-level semiconductor manufacturing techniques and packaging
methods. POET's
Optical Interposer eliminates costly components and labor-intensive
assembly, alignment, burn-in and testing methods employed in
conventional photonics. The cost-efficient integration scheme and
scalability of the POET Optical Interposer brings value to any
device or system that integrates electronics and photonics,
including some of the highest growth areas of computing, such as
Artificial Intelligence (AI), the Internet of Things (IoT),
autonomous vehicles and high-speed networking for cloud service
providers and data centers. POET is headquartered in Toronto, with
operations in Allentown, PA, Shenzhen, China and Singapore. More
information may be obtained at
www.poet-technologies.com.
This news release contains
"forward-looking information" (within the
meaning of applicable Canadian securities laws) and
"forward-looking statements" (within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995). Such statements or information are identified with words
such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes
or statements regarding any potential outcome. Such statements
include the Company's
expectations with respect to the success of the
Company's
announced products and those of its customers.
Such forward-looking information
or statements are based on a number of risks, uncertainties and
assumptions, which may cause actual results or other expectations
to differ materially from those anticipated and which may prove to
be incorrect. Assumptions have been made regarding, among other
things, management's
expectations regarding the success of the Company's announced
products, the ability to design a product to the required
specifications, the success of its customer's products, the
capabilities of its operations, including its joint venture and
business partners to correctly gauge market needs and to produce
products in the required amounts and on a timely basis. Actual
results could differ materially due to a number of factors,
including, without limitation, the failure of its products to meet
performance requirements, the failure to produce products on a
timely basis or at all, the failure of its optical engines to be
incorporated into its customer's transceiver products, the failure
of its customer's products to achieve market penetration,
operational risks including the ability to attract key personnel,
and the ability to raise additional capital. Although the Company
believes that the expectations reflected in the forward-looking
information or statements are reasonable, prospective investors in
the Company's
securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such
expectations will prove to be correct. Forward-looking information
and statements contained in this news release are as of the date of this news
release and the Company assumes no obligation to update or revise
this forward-looking information and statements except as required
by law.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
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