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POET Technologies (PTK.V) is a design and development company offering integration solutions based on the POET Optical Interposer™ a novel platform that allows 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 eliminates costly components and labor-intensive assembly used in conventional photonics. The integration and scalability brings value to any device or system that integrates electronics and photonics, including Artificial Intelligence (AI), the Internet of Things (IoT), and high-speed networking for cloud service providers and data centers.

Coverage was initiated December 2021. with a note on August 2022. Below is an update.

News Releases

Sep. 14 - To Participate in Multiple Sessions at ECOC 2022: September 18-22, 2022 in Basel, Switzerland. ECOC is the continent's largest event in the field and one of the most prestigious events on optical communications worldwide.

Oct. 27 - Announces 800G & 1.6T Optical Engines for Hyperscale Data Center Market:

Will use Directly Modulated Lasers (DMLs) with integrated drivers in POET’s transmit optical engines and high-speed photodiodes and integrated Transimpedance Amplifiers (TIAs) in receive optical engines, to enable low power, cost-efficient and highly scalable 800G and 1.6T pluggable transceivers for hyperscale data centers.

Nov. 14 - To Use Lumentum’s High Speed DMLs for its 400G/800G/1.6T Data Center Solutions: Announced that it will use high-speed directly modulated laser (DML) technology from Lumentum Holdings Inc. (“Lumentum”), a market-leading designer and manufacturer of innovative optical and photonic products, in POET’s transmit optical engines to enable high volume, low power, and cost-efficient 400G, 800G, and 1.6T pluggable transceivers for data centers.

 

 

 

Working with Lumentum, POET expects to start sampling the 400G FR4 transmit optical engines with integrated drivers in the first half of 2023 and production by the second half of 2023.

 

 

 

Nov. 14 - Reports Third Quarter 2022 Financial Results: As part of its third quarter business commentary, the Company reiterated two key milestone objectives for the balance of 2022:

 

 

 

1) the development of a 400G FR4 multiplexed transmit engine that will be combined with the existing 400G receive engine to create a full transmit and receive sub-assembly for a 400G FR4 transceiver module; and

 

 

 

2) the delivery of samples of a packaged light source assembly for Celestial AI, a lead customer in the emerging growth market for Artificial Intelligence – Machine Learning (AI-ML) accelerator chips.

 

 

 

We expect to deliver alpha samples to Celestial AI within just a few weeks consistent with our roadmap. We also demonstrated an Optical Interposer-powered thin-film lithium niobate modulator based 400G Tx solution and expect to demonstrate further improvements in the design of such modulators at the CIOE in December.

 

 

 

Nov. 18 - Announces Non-Brokered Private Placement: Announce that it is undertaking a non-brokered private placement of up to 1,798,561 units of the Corporation at a price of C$3.81 (Warrant C$4.95) for aggregate gross proceeds of up to approximately C$6.85 million.

 

 

 

In connection with the Offering, the Corporation has entered into binding subscription agreements with certain investors representing expected subscription proceeds totaling approximately C$3.75 million.

 

 

 

Nov. 28 - Augments Investor Outreach Efforts: Signed an agreement with Stockhouse Publishing, Ltd., a division of The Market Herald, a leading source of stock market news. The agreement covers a 12-month period during which POET will use a variety of new tools and services to drive large scale investor awareness about the company.

 

 

 

The Company will pay C$100,000 against which it will choose from a menu of standard and custom advertising and marketing campaigns over the year to reach targeted investor audiences

 

 

 

Dec. 2 - Announces Closing of C$4.4 Million Private Placement of Units: Completed its previously announced non-brokered private placement of an aggregate 1,126,635 units at a price of C$3.81 (Warrant C$4.95) for C$4,292,479.35.

 

 

 

Glen Riley, a director of the Corporation, subscribed for 10,000 Units under the Offering for C$38,100.

 

 

 

Dec. 22 - Announces Intention to Amend Warrant Terms: Amend the terms of 1,764,720 common share purchase warrants of the Corporation that were issued on February 11, 2021. After giving effect to the Consolidation, the Warrants currently have an exercise price of C$11.50 per common share and will expire on February 11, 2023.

 

 

 

The purpose of the proposed amendments (i) reduce the exercise price of the Warrants from C$11.50 to C$4.25 per Common Share, (ii) extend the expiry date of the Warrants from February 11, 2023 to May 11, 2023, and (iii) amend the Acceleration Clause to comply with the requirements of the TSX Venture Exchange.

 

 

 

Jan. 10 - Production Release of Optical Engines for 100G, 200G and 400G for Telecom and Data Center Market: It has released to production four optical engines, an achievement that advances the Company’s commercialization goals.

 

 

 

POET reached its production milestones while working with Super Photonics, the joint venture company formed with Sanan IC of Xiamen, China. POET and Super Photonics have jointly completed design verification testing of the optical engines per relevant industry standards. The next step in the commercialization process is for POET’s customers to qualify the products internally with their clients. Purchase orders are expected to follow.

 

 

 

Jan. 18 - Announces Strategic Collaboration with ADVA for 4x100G Solutions: Developed multi-engine 100G CWDM4 and 100G LR4 chip-on-board solutions for its lead customer, ADVA Optical Networking SE.

 

 

 

Jan. 23 - Announces Amendment of Warrant Terms: Completed the amendment to the terms of 1,764,720 common share purchase warrants that closed on February 11, 2021.

 

 

 

Feb. 2 - Partners with LuxshareTech and Announces Availability of 400G and 800G Receive Optical Engines: Started sampling 400G FR4 and 800G 2xFR4 receive optical engines (RXOEs). POET will partner with Luxshare Technology Co., Ltd. (“LuxshareTech”), a global technology provider for data-communication facilities and enterprise-level products to enable the sale of power-efficient and cost-optimized 400G and 800G transceiver solutions.

 

 

 

"LuxshareTech is focused on expanding its 400G and 800G pluggable transceivers portfolio for the data center market,” said Mike Gao, GM of LuxshareTech’s Opto-electronic business unit. "We are pleased to work with POET Technologies and use their highly integrated chiplet platform to enable us to achieve a solution with superior performance and ease of compact module assembly.”

 

 

 

Feb. 10 - Announce the Acceleration of Warrants: As of the close of markets on February 3, 2023, the daily volume weighted average trading price of the Common Shares on the Exchange has exceeded $4.89 per Common Share for at least 10 consecutive trading days. Accordingly, the expiry date of all unexercised Warrants has been accelerated such that all Warrants will expire at 5:00 p.m. (Toronto time) on March 10, 2023. (being 30 calendar day).

 

 

 

Feb. 14 - To Demonstrate 800G Optical Engines and Light Source Products at OFC 2023: POET's executive leadership will be at OFC, March 7– March 9, to showcase the Company’s latest technology in Booth #5311.

 

 

 

Feb. 22 - POET Technologies and Beijing FeiYunYi Agreement to Design Optical Engines for Telecom Market: The agreement, valued at up to $1 million over a two-year period, includes NRE for POET and an initial purchase order for 10,000 units that will be used to sample customers.

 

 

 

BFYY was recently formed for the purpose of selling modules using POET-designed optical engines sourced from POET’s joint venture company, Super Photonics Xiamen (“SPX”). With deep connections to the telecom industry in China, BFYY is investing in assembly facilities to build, market and sell modules that will be competitive in the data center market, specifically focused on large telecom service providers.

 

 

 

POET has agreed to design a single-chip optical engine solution, that incorporates complete transmit and receive functionalities for implementation in a 100G optical transceiver for BFYY’s initial product offering. The unique single-chip solution, called ”POET ONE™”, It will offer significant performance advantages along with minimizing the transceiver design cycle time for BFYY. In addition to the cost benefits of POET’s wafer-scale assembly, the single-chip solution will enable BFYY to cost effectively ramp to high-volume production. BFYY has forecasted optical engine purchases from SPX at over US$30 million over a three-year period.

 

 

 

Mar. 2 -Introduces “POET Infinity” for 400G, 800G and 1.6T Data Center Solutions: a chiplet-based transmitter platform for 400G, 800G and 1.6T pluggable transceivers and co-packaged optics solutions. POET will showcase a live demonstration of early samples at the 2023 Optical Fiber Communication Conference and Exhibition (OFC).

 

 

 

The POET Infinity chiplet incorporates 100G PAM4 directly modulated lasers (DML), DML drivers and an integrated optical multiplexer for a complete 400GBASE-FR4 transmitter solution on a chip. The small size of the chiplet and a daisy chain architecture enable side-by-side placement of multiple chiplets to achieve 800G and 1.6T speeds. Pluggable transceiver customers can use two Infinity chiplets to achieve 800G in a 2xFR4 transmitter in a QSFP-DD or OSFP package, or use four Infinity chiplets for 1.6T 4xFR4 solutions in an OSFP-XD package.

 

 

 

Mar. 6 - Collaborates with Vanguard Automation on Solutions for Co-packaged Optics and AI-ML Applications: The POET O-Band LightBar™ solution will incorporate Vanguard Automation's Micro-Lenses, advancing scalability.

 

 

 

Mar. 14 - Reports No Exposure to Silicon Valley Bank (SVB) Failure

 

 

 

Mar. 31 - Reports Fourth Quarter 2022 Financial Results:

 

 

 

Amended the terms of 1,764,720 common share purchase warrants with an expiry date of February 11, 2023 and an exercise price of C$11.50 to expire on May 11, 2023 at an exercise price of C$4.25. The Company had received US$5,475,102 from the exercise of 1,758,716 of these warrants by March 10, 2023.

 

 

 

“The Company’s effort during the fourth quarter has been well rewarded in the form of several pivotal announcements in early 2023,” stated POET Chairman & CEO, Dr. Suresh Venkatesan. “In January, we released to production four optical engines, marking a significant commercialization milestone for both POET and Super Photonics. Having recently completed product design verification and reliability testing on these optical engines, we are now working closely with multiple customers on the internal qualifications for their end customers.

 

 

 

Apr. 14 - Expands Investor Outreach Efforts: Signed agreements with HE Capital Markets for distribution of the Company’s content on Investors Hub and Wall Street Silver Services (“WSS”). The Company will pay US$15,000 to HE Capital Markets, which is headquartered in London, UK, and US$15,000 to WSS.

 

 

 

Apr. 25 - Introduces “POET Starlight” and Receives Advanced Purchase Order from Celestial AI: Announced “POET Starlight™”, a packaged light source solution for AI applications. POET has entered into an agreement with Celestial AI, creators of the Photonic Fabric™, for development and production of POET Starlight packaged light sources and has received an advanced purchase order for initial production units.

 

 

 

The POET Starlight products are packaged light engines based on POET's LightBar™ platform. POET’s Starlight products integrate active components like lasers and certain other passive optical and electrical components into the optical interposer to provide a complete light source solution that can be integrated on a host board and connected to chips and ASICs with built-in silicon photonics. POET achieves its low-cost solution through the use of features and benefits of the POET Optical Interposer platform and the “semiconductorization” of photonics fabrication.

 

 

 

May 11 - Announces First Volume Purchase Order for Its Optical Engines: Valued at more than US$3 million, the purchase order was placed by Beijing FeiYunYi Technology Ltd. (”BFYY”), which will produce optical transceiver modules using POET-designed optical engines for sale to telecom and data center markets globally. This initial purchase order was placed against BFYY’s 3-year forecast of US$30 million in expected optical engine purchases.

 

 

 

With deep connections to the telecom industry in China, BFYY is investing heavily in transceiver module design and manufacturing to build, market and sell optical transceiver modules specifically focused on large telecom and data center service providers. The modules incorporate POET Optical Interposer-based optical engines which are assembled with components, tested and sold by POET’s 80%-owned JV company, SPX.

 

 

 

POET had previously announced POET ONE™, a single-chip optical engine solution incorporating complete transmit and receive functionalities for implementation in a 100G optical transceiver. The POET ONE optical engine offers significant performance advantages and minimizes the transceiver design cycle time for BFYY. In addition to the cost benefits of POET’s wafer-scale assembly, POET ONE will enable BFYY to speed the design and qualification cycle with customers and ramp to high-volume production and sales. POET and SPX expect to complete the design verification testing and reliability qualification of POET ONE by the fourth quarter of 2023 and then start shipments early 2024.

 

 

 

May 15 - Reports First Quarter 2023 Financial Results:

 

 

 

June 14 - POET Technologies Announces Sample Availability of “POET Infinity” and Testing with Two Lead Customers: Two lead customers have agreed to partner with POET to test the alpha version of the Infinity chiplet which is a transmitter platform for 400G, 800G and 1.6T pluggable transceivers and co-packaged optics solutions.

 

 

 

The POET Infinity chiplet complements the POET 800G 2xFR4 Receiver optical engine announced in February 2023, and completes the 800G chipset for 2xFR4 QSFP-DD or OSFP applications with two Infinity chiplets and one Receiver optical engine. Both customers intend to develop 800G 2xFR4 QSFP-DD and OSFP transceiver solutions.

 

 

 

The development of a production version of the POET Infinity chiplet is on track and POET expects to deliver beta samples by Q4 of 2023 and start production by the first half of 2024.

 

 

 

June 28 - POET Technologies to Host Virtual Annual and Special Meeting of Shareholders - June 30

 

 

 

June 29 - Announces "At-the-Market" Public Offering in the United States and Canada: The Company may, at its discretion and from time-to-time during the term of the Agreement, issue and sell, such number of common shares of the Company as would result in aggregate gross proceeds to the Company of up to US$30 million.

 

 

 

The Company intends to use the net proceeds from the ATM Program, if any, for general working capital purposes related to research and development of its optical engines for transceivers and light source modules for the AI market, capital asset purchases and selling and general and administrative expenses.

 

 

 

July 26 -Announces Sample Availability of 100G LR4 Optical Engines: Sample readiness of 100G LR4 Transmit and 100G LR4 Receive optical engines that are part of “POET Legacy™” product family. Three lead customers have received samples and started product evaluation and two others have requested samples.

 

 

 

The POET 100G LR4 Transmit and Receive optical engines are using POET’s Optical Interposer technology including high-speed DML lasers and photodiodes. The engines meet the IEEE 100GBASE-LR4 standard for transmission up to 10km and are suitable for use in QSFP28, CFP, CFP2 and other high density form factors. 100G LR4 transceivers are a mainstay of the telecom industry, providing key links from data centers to trunk lines.

 

 

 

Aug. 11 - Reports Second Quarter 2023 Financial Results:

 

 

 

The Company now has five product lines that we are actively sampling and engaged with at new and existing customers. POET Infinity™, POET Starlight™, POET LightBar™, POET Legacy™, and POET ONE ™ have emerged as foundational products for us and are providing the opportunity for expanded discussions with customers.

 

 

 

The Company received $1.6 million from the exercise of warrants and stock options in the second quarter of 2023. From January 1, 2023 to June 30, 2023, the Company received $7.9 million from warrants and stock options.

 

 

 

Aug. 15 - Creates Platform for 1.6T Transceivers Using 200G per lane Technology: Migrating from 100G per lane to 200G per lane doubles the bandwidth with the same face plate density as 100G per lane, lowers the overall system power consumption and reduces the solution cost. Cloud and other service providers can continue to reap the benefits of pluggable transceivers in their networks and deploy pluggable solutions at bandwidths of 1.6T (and beyond) with 200G per lane technology utilizing POET’s enhanced interposer-powered optical engines.

 

 

 

POET expects to complete the design of 1.6T Transmit and Receive optical engines with 200Gbps per lane technology based on the new generation of Optical Interposer designs by early 2024. It plans to demonstrate these products at major tradeshows and start customer sampling by first half of 2024.

 

Aug. 30 - POET Technologies to Feature 800G Optical Transceivers at CIOE 2023: In cooperation with one of the Company’s lead customers, Luxshare-ICT (SZ: 002475), POET along with its joint venture partner, Super Photonics Xiamen (SPX), will showcase a live demonstration of the performance of Luxshare's 800G OSFP transceiver that incorporates POET’s 800G Rx optical engine. POET and SPX will present additional live demonstrations of optical engines for 800G, 400G, and 200G transceivers operating over a wide temperature range and 2km to 10km of single mode fiber transmission. The demonstrations of linked optical engines on both the transmit and receive ends of the fiber highlight the end-to-end performance and product readiness of POET’s optical engines and allow customers to experience the simplicity and compact design of the products.

Sep. 1 - Refreshes "At-the-Market" Public Offering in the United States: Entered into an equity distribution agreement dated September 1, 2023 with Craig-Hallum Capital Group LLC as sales agent, pursuant to which the Company has resumed its "at-the-market" equity offering program (the "ATM Program") in the United States.

Pursuant to the ATM Program, the Company may, at its discretion and from time-to-time during the term of the Equity Distribution Agreement, issue and sell, through the Agent, such number of common shares of the Company as would result in aggregate gross proceeds to the Company of up to US$30 million.

The Company intends to use the net proceeds from the ATM Program, if any, for general working capital purposes related to research and development of its optical engines for transceivers and light source modules for the AI market, capital asset purchases and selling, general and administrative expenses

Sep. 12 - POET Technologies’ New Module Designs Attract Major Companies at CIOE.

 

The objective for both POET and SPX was to feature 800G optical transceiver solutions by demonstrating the live performance of POET’s transmit (Tx) and receive (Rx) optical engines over 2km of fiber. With high demand for 800G 2xFR4 transceivers, over 20 private customer meetings were completed. Two major Tier 1 module suppliers already engaged with POET and its joint venture company, SPX, requested samples to be submitted for immediate evaluation, including optical engines for 800G Tx, 800G Rx, 400G Tx (the POET InfinityÔ chiplet) and 400G Rx. An additional engaged Tier 1 customer requested a quote for a customized 100G LR4 optical engine. Four new potential Tier 1 / Tier 2 customers requested samples as soon as possible for their 800G module designs.

 

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