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Thursday, November 29, 2018 11:24:42 AM
https://finance.yahoo.com/news/poet-technologies-receives-first-orders-130000553.html
POET Technologies Receives First Orders for Optical Interposer Solutions
GlobeNewswire•November 12, 2018
AN JOSE, Calif., Nov. 12, 2018 (GLOBE NEWSWIRE) -- POET Technologies Inc. (the “Company” or “POET”) (OTCQX: POETF; TSX Venture: PTK), a designer, developer and manufacturer of optoelectronic devices, including light sources, passive wave guides, and Photonic Integrated Circuits (PICs) for the data- and tele-communication markets, announced today that it has received its first orders for POET Optical Interposer™-based solutions from leading global communications companies targeting data communication applications, which represents a new served market for the Company’s products.
The orders include sales and development contracts with a value in excess of US$3 million (CAD$3.9 million) to purchase current device prototypes, to develop and provide increasingly integrated optical engine components or to systematically address specific customer integration requirements under paid development programs. Together, these recent orders represent a material increase in the overall revenue run-rate for the Company and are expected to be fulfilled beginning now through mid-2019. POET’s latest reported revenue for the six months ending June 30, 2018 was US$1,425,427 (CAD$1,869,804), which was entirely from sales of light source products for the sensing market.
The POET Optical Interposer is a novel platform that facilitates the co-packaging of electronics and optics in a single Chip Scale Package (CSP). The Optical Interposer, incorporating POET’s dielectric waveguide technology, reduces coupling and transmission losses below levels found in conventional and silicon photonics (SiPh)-based devices and allows passive optical alignment as well as automated wafer scale pick-and-place assembly and test. The result is a dramatic reduction in manufacturing costs, lower power consumption, and often smaller form factors compared to other approaches, allowing POET’s customers to produce highly differentiated products across a range of advanced photonics applications.
POET’s Chief Executive Officer, Dr. Suresh Venkatesan, commented, “We introduced the Optical Interposer in January of this year and have now received multiple orders from datacom and telecom industry leaders. This validates that we have a compelling photonics integration platform. The Optical Interposer enables manufacturers of conventional and silicon photonics transceiver modules to reduce costs and, in some cases, to cost-effectively transition from 100G to 400G products using a common platform architecture. We expect these current orders to lead to the inclusion of more of our Optical Interposer technology in current and future products, including 400G transceivers for datacom and low-cost devices targeted at the high-growth market for 5G cellular and next generation access networks.”
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