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POET Technologies Inc. (POET) is a leading innovator in the field of optoelectronic solutions based in Toronto, Ontario, Canada. The company specializes in the design, manufacture, and sale of semiconductor products and services for a range of commercial applications. Utilizing their proprietary POET Optical Interposer, POET Technologies has developed a novel platform that seamlessly integrates electronic and photonic devices into a single module. This is achieved through wafer-level manufacturing techniques and advanced packaging methods.
POET Technologies' product lineup includes the POET Starlight, POET Lightbar, POET Infinity, and POET One, among others. These products find applications in diverse fields such as Data Centers, Telecommunications, the Internet of Things (IoT) & Industrial Sensing, Automotive LIDAR, and On-Board Optics. By focusing on these key sectors, the company aims to address the growing needs for efficient and reliable optoelectronic solutions.
The company’s geographical reach extends to major markets such as Asia, the United States, and Canada, where it continues to expand its influence and customer base. POET Technologies prides itself on a strong balance sheet and has recently achieved significant milestones, including major design wins which mark the beginning of a promising second quarter.
In recent news, POET Technologies announced strategic partnerships and forward-looking plans to enhance their market presence further. They continue to be at the forefront of technological advancements, ensuring they remain a key player in the semiconductor industry.
For detailed updates and to learn more about the company's ongoing projects, visit their official news section and explore the latest announcements.
POET Technologies and InSiGa Semiconductor Technologies have developed a groundbreaking solution for 800G and 1.6T optical modules, set to be showcased at CIOE 2024. The collaboration combines POET's 200Gx4 transmit optical engine with InSiGa's 200G/lane EML driver ISG-D9616, offering a compact and high-performance solution for next-generation bandwidth requirements in AI and datacenter applications.
Key features include:
- DC coupled 200G/lane EML driver with no need for external components
- Compact design with 0.7x0.9mm die size
- Differential input for cross-talk immunity
- Sampling available for ISG-D9616
- POET's optical engines designed for 800G FR4, DR4, and 1.6T applications
POET Technologies Inc. (TSX Venture: PTK; NASDAQ: POET) has announced that Mentech Technology has selected POET's transmit and receive optical engines for use in developing 800G pluggable transceivers. Mentech, a leading supplier of data communications components, has placed initial purchase orders for these engines. The collaboration aims to enhance Mentech's product lineup, particularly in high-speed optical modules for data center networking infrastructure.
Dr. Qian Yinbo, Mentech's CTO, highlighted the importance of POET's optical interposer platform in expanding their capabilities, citing its small form factor and flexibility. POET's Senior VP in Asia, Dr. Mo Jinyu, expressed excitement about the partnership, anticipating the launch of Mentech's 800G and 1.6T modules powered by POET's technology. The development process is expected to take 6-9 months, followed by 3-6 months of customer testing, with Mentech aiming for an early product launch.
POET Technologies Inc. (TSX Venture: PTK; NASDAQ: POET) will showcase its leading-edge optical products at the 2024 China International Optoelectronic Expo (CIOE) from September 11-13. The company will demonstrate products designed for AI systems and hyperscale data center markets, including:
- 800G 2xFR4 OSFP module reference design with POET's new 400G transmit engine and 800G receive engine
- 200G/lane transmit and receive optical engines for 800G and 1.6T optical modules
POET's Chairman and CEO, Dr. Suresh Venkatesan, emphasizes the importance of CIOE for building customer relationships and showcasing the versatility of their Optical Interposer platform. The company will share a booth with its joint venture, Super Photonics (SPX), which will display production-ready optical engines expected to enter the market by year-end.
POET Technologies Inc. (TSX Venture: PTK; NASDAQ: POET) has announced a reorganization of its engineering team to streamline operations and respond to customer demand for 800G and higher products in the AI systems and hyperscale data center markets. The company is establishing a Global Engineering Organization in Singapore, led by Dr. Mo Jinyu, to better serve customers in Asia Pacific countries.
Key changes include:
- Transferring engineering design and manufacturing interface functions from Allentown, PA to Shenzhen, China
- Closing the Allentown operation by March 31, 2025
- Expected annual savings of US$1.8-2 million
- One-time costs estimated at US$250,000
POET aims to secure design wins, deliver products, and take volume production orders from customers, expecting revenue growth later in 2024 and into 2025.
POET Technologies reported its Q2 2024 financial results, highlighting major design wins with Foxconn Interconnect Technology and Luxshare Tech for high-speed optical engines in AI applications. The company was awarded 'Best Optical AI Solution' by AI Breakthrough. POET raised $32.4 million through private placements and ATM facilities, strengthening its balance sheet with $28.7 million in cash as of July 31, 2024.
Financial highlights include:
- No NRE revenue in Q2 2024 vs $177,000 in Q2 2023
- Net loss of $8.0 million ($0.14 per share) in Q2 2024
- R&D costs of $2.1 million in Q2 2024
- Cash flow from operations of ($4.5) million in Q2 2024
POET Technologies and Luxshare Tech have expanded their partnership to provide more optical module products for AI network equipment and AI service providers. Following successful testing of 800G 2xFR4 OSFP modules using POET's receive optical engines, the companies agreed to produce additional types of optical transceiver modules. The expanded product range will include POET's transmit and receive optical engines for Luxshare's 400G and 800G pluggable transceivers for single mode fiber applications.
These state-of-the-art transceivers will combine POET's 100G/lane and 200G/lane optical engines with Luxshare Tech's advanced optical module designs. The partnership aims to deliver faster and more energy-efficient data communications within the next year, catering to the needs of AI developers, data center hyperscalers, and the computing industry.
POET Technologies Inc. (NASDAQ: POET) has completed a US$10 million registered direct offering with a single institutional investor. The offering included 3,333,334 common shares and warrants to acquire an equal number of shares at US$3.00 per unit. Each warrant is exercisable at US$4.00 per share for five years. POET is experiencing strong demand for its optical engine technology used in 800G and 1.6T speed optical modules for AI processing clusters. The company plans to use the proceeds for working capital and general corporate purposes. No commission or finder's fee was paid, and no underwriter was engaged. The offering was made under an effective shelf registration statement and is subject to TSX Venture Exchange final acceptance.
POET Technologies has won the 'Best Optical AI Solution' award in the 2024 AI Breakthrough Awards.
The award recognizes POET's Optical Interposer™, a silicon-based hybrid integration platform that enables optical communication. This technology combines electrical and optical layers on a single chip, facilitating the replacement of copper with light-based optical data communication in high-speed computing.
POET's products, including POET Wavelight™ and POET Starlight™, utilize this platform for high-speed and low-latency networks.
Collaborating with Luxshare, Foxconn Interconnect Technology, and MultiLane, POET is developing 800G and 1.6T optical transceiver modules and a 3.2T optical engine program.
This recognition solidifies POET's focus on advanced optical solutions for AI applications.
POET Technologies reported the results of its 2024 Annual General and Special Meeting (AGSM) held virtually on June 21, 2024. Key outcomes include the re-election of directors with no less than 84% of votes, appointment of auditors with 98% approval, and the approval of stock option amendments and an omnibus equity incentive plan. The CEO, Dr. Suresh Venkatesan, highlighted POET’s alignment with AI network needs, financial stability, and strategic projects. Additionally, the board granted stock options to directors, officers, and employees, with a total of 1,657,659 options issued. These options vest over four years and are exercisable for 10 years at CAD$2.48 per share.
POET Technologies announced the amendment and acceleration of 539,318 common share purchase warrants. Originally issued during a private placement on December 2, 2022, the amended warrants can now be exercised at C$1.80 per share. Additionally, an acceleration clause has been included. If the share price is C$2.16 or higher for 10 consecutive trading days, the expiry date shortens to 30 days. As of May 29, 2024, POET’s share price has met this threshold, and the warrants will now expire on June 28, 2024.
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