SAN JOSE, Calif., Aug. 09, 2016 (GLOBE NEWSWIRE) -- POET Technologies Inc. (the “Company” or “POET”)
(OTCQX:POETF) (TSX Venture:PTK), a developer of opto-electronics fabrication processes for the semiconductor industry, today
announced that it has taken one more significant step toward its goal of developing a fully integrated commercial opto-electronic
technology platform.
The specific and significant milestone achieved is the first demonstration of functional Hetero-junction Field
Effect Transistors (HFETs) down to 250nm effective gate lengths on the same proprietary epitaxy and utilizing the same integrated
process sequence that was previously used to demonstrate high performance detectors. This milestone is the latest in POET’s
initiative to integrate a detector, HFET and laser together into a single chip, the three key components of an active optical
cable, a current market target for POET.
“Two of the three critical individual pieces of an integrated opto-electronic product are now in place and
undergoing their respective optimization cycles,” said Dr. Subhash Deshmukh, POET’s Chief Operating Officer. “As reported
earlier, we have encountered delays in completing the VCSEL milestone. The VCSEL continues to be our focus, even while we
simultaneously make progress on other aspects of the technology. The characterization that has been done to date on the VCSEL
points to required optimization of a few layers in a very complex and unique epitaxial stack and fine tuning of the resonant cavity
mode. The new and optimized epitaxial structure is expected to be delivered to the foundry for processing over the next couple of
months,” said Dr. Deshmukh. “We have not uncovered any fundamental show-stoppers. We are charting new territory here
and as pointed out at the recent town hall meeting and at the annual meeting of shareholders, technical issues are commonly
encountered throughout the R&D process and we are systematically understanding and addressing these issues.”
POET has already demonstrated electrical functionality of the VCSEL with desired thyristor characteristics and
demonstrated lasing modes through optical pumping of the VCSEL cavity (in other words light emission was detected on the epitaxial
wafer surface). However in order to enable electrical pumping of the VCSEL, the team has had to redesign some aspects of the
epitaxial stack. VCSEL functionality was previously verified in a lab setting and the functionality of that original laser has been
retested and reconfirmed.
“POET management is delighted to report this new achievement and reaffirms their confidence in the roadmap and
progress in the lab to fab to commercialization of monolithic opto-electronic products. We will provide the next update around the
earnings call, which we intend to schedule for early Q4 2016,” said Dr. Suresh Venkatesan.
About POET Technologies Inc.
POET (Planar Opto-Electronic Technology) is a developer of opto-electronics and Photonic fabrication processes
and products. Photonics integration is fundamental to increasing functional scaling and lowering the cost of current Photonic
solutions. POET believes that its advanced opto-electronics process platform enables substantial improvements in energy
efficiency, component cost and size in the production of smart optical components, the engines driving applications ranging from
data centers to consumer products to military applications. Silicon Valley-based POET’s patented module-on-a-chip process, which
integrates digital, high-speed analog and optical devices on the same chip, is designed to serve as an industry standard for smart
optical components. More information may be obtained at www.poet-technologies.com.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) “John F. O’Donnell”, Secretary
For further information:
Robert Ferri
Robert Ferri Partners
Tel: (415) 575-1589
Email: Robert.ferri@robertferri.com
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.
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 an
outlook. Such statements include the Company’s expectations regarding the progress of its development of a fully integrated
opto-electronic technology platform and the belief that the new and optimized epitaxial structure is expected to be delivered to
the foundry for processing over the next couple of months. They also include the Company’s expectations with respect to the
capability, functionality, performance and cost of the Company’s technology.
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 future growth, plans for
and completion of projects by the Company’s third party relationships, 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, delays or changes in plans with respect to the
development of the Company’s anticipated projects by the Company’s third party relationships, risks affecting the Company’s ability
to execute projects, the ability to attract key personnel, and the inability 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.
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