POET's JV, Super Photonics Xiamen, Expands Production Capacity to Support Customer Demand

TORONTO, Oct. 05, 2023 (GLOBE NEWSWIRE) -- POET Technologies Inc. ("POET" or the "Company") (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposertm 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 anticipated 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 additional precision die bonders, testers and additional equipment that will expand production capacity to fulfill the customer orders on hand and expected in the near future," 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 Interposer^TM -based optical engines for 100G CWDM4, POET ONEtm (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 further develops 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 Interposertm 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.

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