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Among the milestones POET reported achieving since its previous corporate update on September 30, 2015 are the following:
POET has transferred its proprietary technology to multiple foundry partners.
POET has received promising initial results of wafers processed at its newest foundry supplier, Wavetek, using POET`s proprietary technology. The agreement with pure-play foundry services leader Wavetek, announced last month, addresses all of POET`s current manufacturing requirements (including Vertical Cavity Surface Emitting Lasers (VCSELs)) in POET`s ongoing commercialization initiative.
POET has initiated a process to produce integrated VCSEL prototypes, which the Company expects to demonstrate in the second quarter of 2016.
POET has completed - nearly a full quarter ahead of plan - the consolidation of its Toronto-Connecticut-San Jose operations in Silicon Valley.
POET has accelerated its evaluation of an expanded product roadmap to include display and sensing technology to take advantage of what we believe are increasing market needs for integrated photonics.
POET has received specific interest in applications from prospective customers and is in advanced discussions to license for non-recurring engineering (NRE) fees and transfer our proprietary integrated planar opto-electronic technology. Included in the talks is the proposed establishment of a platform for the development of integrated sensing applications.
POET is in advanced discussions with a leading institution to enter into a joint development agreement that will evaluate the adaptation of the POET platform for potential applications in micro-displays for the burgeoning Augmented Reality market.
Dr. Venkatesan noted that POET is positioned at the confluence of next-wave mega-trends that both encompass and extend beyond data communications and stated: "Photonics is experiencing a post-telecom second wave of growth - this one, fuelled by consumers engaged in always-on social networking, cloud computing, Software as a Service (SaaS) and the ubiquitous devices that are central to our lives," said POET Chief Executive Officer Dr. Suresh Venkatesan. "Social Networking, Cloud Computing, the Internet of Things and the growth of mega-datacenters are galvanizing a renewed growth spurt in photonics. We believe, POET is at confluence of these megatrends. And we believe we are in the position not just to ride them, but to drive them."
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