POET Technologies Inc. (PTK) has secured a commitment from a leading network systems company.
The purchase order is for a unique multi-engine design for 100G CWDM4 and 100G LR4 Optical Engines based on the POET Optical Interposer.
The combined value of the NRE and the purchase order for initial units exceeds US$1.2 million.
"We have been engaged with this customer for several months on a breakthrough design to incorporate multiple optical engines in a single industry-standard transceiver module, something that only a POET Optical Interposer-based engine can enable," noted Vivek Rajgarhia, President & General Manager of POET Technologies Inc.
"Our customer is already selling into the well-established telecom equipment market, and with the POET Optical Engines, will be able to offer a solution to its customers that delivers superior performance at a price that cannot be matched today by competing solutions," added Rajgarhia.
In September 2020, the prominent forecasting firm LightCounting noted an increased demand for 100G LR4 transceiver modules with a 10km reach, reversing its previous revenue forecast of a flat $300 million annually to one that increased in the 2020 - 2025 period to over $700 million annually.
The commitment from a Tier 1 customer and the numerous other recent customer engagements show that a market is building for the Optical Interposer’s hybrid integration approach and multiple product designs can benefit from POET’s unique platform solution.
POET also reported that its unaudited cash balance on September 30, 2021, stood at approximately US$20 million.
Additionally, it reported that the majority of the C$0.52 warrants, expiring on November 2, 2021, had been exercised during their 5-year lifetime. Approximately 11 million warrants with a value of US$4.5 million remain outstanding and unexercised.
POET Technologies will hold its Annual General and Special Meeting virtually via the Lumi NA online platform at 1:00 pm EDT on Thursday, October 7, 2021.
POET Technologies is a design and development company offering integrated 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 Technologies Inc. (PTK) is up 20.79 per cent, trading at C$1.22 at 10:37 am ET.