Toronto,
Ontario, October 5th,
2023 -- InvestorsHub NewsWire -- POET
Technologies Inc. ("POET" or
the "Company")
(TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET
Optical Interposer™ and Photonic Integrated Circuits (PICs) for the
data center, telecommunication and artificial intelligence markets,
today announced that its joint
venture, Super Photonics Xiamen (SPX), is expanding production
capacity to support increased customer demand for 2024 and
beyond.
"SPX has received purchase orders from
customers, and we are excited about the strong demand for the POET
engines in 2024 and beyond. Our team has placed orders for three
additional precision die bonders on top of the two we currently
have. The additional
equipment is needed to expand production capacity to fulfill the
customer orders on hand," said
Xiaozhong Zheng, CEO of
SPX. "Our team is working to improve production efficiencies that
will expand capacity well beyond what the equipment itself will
provide."
SPX expects to ramp production of POET's
Optical InterposerTM
-based optical engines for 100G CWDM4, POET
ONE™ (a 100G single chip TxRx engine), 100G LR4, 200G FR4, 400G FR4
and 800G 2xFR4 solutions. Compared to modules built with
conventional chip-on-board and silicon photonics-based components,
POET's optical engines are highly-differentiated, hybrid-integrated
products. POET's
wafer-scale assembly process and passive alignment techniques
result in chip scale optical engines that offer superior
performance and lower assembly cost for makers of pluggable
transceivers.
"Some of our transmit and receive optical
engines are already in low-volume production and we expect to add a
few more products to the production list by end of the year. Our
100G CWDM and LR4 transmit and receive engines and the 400G/800G
receive engines are quite popular with module customers because of
the simplicity of the solution and the elimination of active
alignments that are required by conventional assembly methods,"
said Raju Kankipati, SVP & GM of POET North America. "We expect
to capitalize on the steady market demand in China for our legacy
products as POET ramps our high-speed products for next-generation
networks and AI applications."
The ethernet transceiver market for the
products that SPX and POET expect to be in production by early 2024
is projected by LightCounting
to have an estimated cumulative value of $12
billion over the 2024-2028 period.
About POET
Technologies Inc.
POET 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, 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 market size, the capability, functionality,
performance and cost of the Company's technology,
the capabilities and expected success of its joint venture, as well
as the timing and inclusion of its technology in customer's current
and future products.
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 size of the market for its products, the capability
of its joint venture to order, install and operate specialized
manufacturing equipment, to produce products in time and at the
expected costs, and the success of its customers in achieving
market penetration for its products.
Actual results could differ materially due to
a number of factors, including, without limitation, the
attractiveness of the Company's product offerings, performance of
its technology, and ability of its customers to sell their products
into the market. For further
information concerning these and other risks and uncertainties,
refer to the Company's filings on SEDAR+ at www.SEDAR.com and on
the website of the U.S. Securities and Exchange Commission at
www.sec.gov. 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 applicable securities laws.
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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