POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK;
OTCQX: POETF), and Xiamen Sanan Integrated Circuit Co. Ltd. (”Sanan
IC”), a wholly owned subsidiary of Sanan Optoelectronics Co., Ltd.
(Shanghai Stock Exchange, SSE: 600703) announced today that they
have signed a definitive joint venture contract and have applied
for the registration of Super Photonics Xiamen Co., Ltd. (“Super
Photonics”) to offer a new generation of cost-effective,
high-performance optical engines to transceiver module
manufacturers, systems suppliers, data center operators and network
providers globally.
POET and Sanan IC are forming Super Photonics
with the signing today of the definitive joint venture agreements
and the registration of the company in Xiamen, PRC. The venture has
been capitalized with a commitment of cash and manufacturing
know-how from Sanan IC and intellectual property and design
know-how from POET. Super Photonics will assemble, test, package
and sell optical engines, a primary component of optical
transceivers that transmit data between switches and servers in
data centers and between data centers and metro areas.
Modular pluggable transceivers represent a major portion of
the capital spending for equipment by companies such as Google,
Alibaba, Facebook, Tencent and others engaged in building
hyperscale data centers.
“Sanan IC is dedicating significant capital and
management talent to this new joint venture,” said Raymond Cai,
Chief Executive Officer of Sanan IC. “We strongly believe that by
combining Sanan IC’s manufacturing capabilities and devices with
POET’s advanced optical engine designs, Super Photonics will be
able to offer highly attractive solutions to the data
communications and telecommunications markets.”
“Super Photonics is both the culmination of a
long path for POET and the beginning of a new phase in our growth
and development as a company,” said Dr. Suresh Venkatesan, Chairman
and Chief Executive Officer of POET Technologies, Inc. “We cannot
overstate the importance of this moment and the depth of our
commitment to making this joint venture a resounding success.”
Super Photonics intends to design, manufacture
and sell products for a variety of applications, including optical
engines for transceivers used in data centers and for the
fiber-based segments of the 5G communications market, each among
the highest growth segments of the data communications and
telecommunications markets.
About Sanan ICXiamen Sanan
Integrated Circuit Co., Ltd. (Sanan IC) is a leading compound
semiconductor wafer foundry, serving the RF microelectronics, power
electronics and optical markets worldwide. The company was founded
in 2014 and is based in Xiamen City in the Fujian Province of
China, operating as a subsidiary of Sanan Optoelectronics Co., Ltd.
(Shanghai Stock Exchange: 600703). The company develops and
provides GaAs, GaN, SiC, and InP foundry services with its
state-of-the-art compound semiconductor fabrication facilities.
Certified to the ISO9001 international quality standard, ISO14001
environmental management standard, and IATF 16949:2016 Automotive
Quality Management System (QMS) standard, Sanan IC empowers the
global community of RF, millimeter wave, filter, power electronics,
and optical communications markets with its advanced process
technology platform. Sanan IC is Dedicated to Driving Compound
Semiconductor Innovation. For more information, visit
www.sanan-ic.com.
Company Contact for Sanan
IC:Raymond Biagan ray@sanan-ic.com
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 and
Singapore. More information may be obtained at
www.poet-technologies.com.
Shareholder Contact for POET:Shelton GroupBrett L.
Perrysheltonir@sheltongroup.com |
Company Contact for POET:Thomas R. Mika, EVP &
CFOtm@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 product
development efforts, the expected results of its operations,
meeting revenue targets, and the expectation of continued success
in the financing efforts, the capability, functionality,
performance and cost of the Company’s technology as well as the
market acceptance, inclusion and timing of the Company’s technology
in 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 success and timing for
completion of its development efforts, financing activities, future
growth, recruitment of personnel, opening of offices, the form and
potential of its planned joint venture, if approved, plans for and
completion of projects by the Company’s third-party consultants,
contractors and partners, availability of capital, and the
necessity to incur capital and other expenditures. Actual results
could differ materially due to a number of factors, including,
without limitation, operational risks in the completion of the
Company’s anticipated projects, a delay or abandonment of its
planned joint venture, delays in recruitment for its newly opened
operations or changes in plans with respect to the development of
the Company’s anticipated projects by third-parties, risks
affecting the Company’s ability to execute projects, the ability of
the Company to generate sales for its products, 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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