POET Technologies (TSX-V:PTK, StockForum), a Toronto-based developer of the POET platform technology for the monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single wafer, announced today that the company had achieved a new milestone with the continuous-wave (cw) operation of its thyristor laser within its proprietary planar optoelectric technology (POET) platform.

Company Executive Chairman and interim CEO, Peter Copetti, commented, “This is the most definitive step yet in our drive to enhance POET's electronic and optical monolithic capability, beyond CMOS and silicon photonics."

Then added, "While timeline variations are always to be expected for a company in development mode, our belief in Geoff Taylor and his team has never wavered. We would like to thank the entire technical team for its hard work and dedication.

According to the news release, POET also reported significant progress on various other initiatives on its technical road map, including the upgrade of its molecular beam epitaxy (MBE) system to make critical additions and replenish source materials and the establishment of POET's technology design kits (TDKs).

Copetti summed up, “"It is gratifying to see our excitement shared by others, and we hope that excitement will be infectious as we head into the Global Semiconductor Forum. We have a relentless focus on securing our intellectual property and in forging ties to industry, and this positions POET Technologies in its drive to extend Moore's Law to the next level.”

POET Technologies was in the news recently when the company announced its participation in the 11th edition of the Global Semiconductor Forum.

Shares jumped 18.00% on the news to $1.20 per share.

Currently there are 145.5m outstanding shares with a market cap of $174.6 million.