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19 October 2016

POET to expand R&D operations with support from Singapore Economic Development Board

POET Technologies Inc of San Jose, CA, USA — which has developed the proprietary planar optoelectronic technology (POET) platform for monolithic fabrication of integrated III-V-based electronic and optical devices on a single semiconductor wafer — has entered into an agreement with the Singapore Economic Development Board (EDB) to expand its R&D operations in the country.

Through its acquisition in May of Singapore-based DenseLight Semiconductors Pte Ltd (a designer and manufacturer of photonic sensing and optical light source products for the communications, medical, instrumentations, industrial, defense and security industries), POET reaffirmed its strategic intent to expand its R&D and manufacturing operations in Singapore. The firm will establish an Integrated Photonics Center of Excellence within its current operations to further develop and commercialize differentiated photonics and optoelectronic products. This is expected to increase market penetration and enhance market acceptance of the POET portfolio as it is introduced. The firm says that the center signifies the growing importance of integration in photonics applications as a means to drive increased adoption and improve POET's competitive positioning. The Singapore operations will further the development and production of POET's key technologies, including those developed with the joint program that POET established with the Institute of Materials Research and Engineering (IMRE) in Singapore earlier this year. The planned initiatives are expected to gradually add up to 30 engineers and scientists to POET, as the R&D center is established.

"EDB's support will be instrumental in helping us drive the growth of intellectual property, talent and operations in Singapore, thus providing a foundation for compound semiconductor and photonics growth in the region," says chairman Ajit Manocha. "I have been engaged with Singapore for much of my career and value the nurturing and enduring partnerships with the EDB throughout. We chose Singapore because of EDB's initiative to grow the compound semiconductor and photonics ecosystem in the region," he adds. "The country's business-friendly climate and support from government agencies truly set it apart. We look forward to continuing to work with the EDB as we accelerate the commercialization of our highly differentiated technologies serving a variety of applications and markets," Manocha continues.

"This support from the EDB could potentially allow POET and its subsidiaries, DenseLight and BB Photonics, to accelerate product and revenue growth by leveraging Singapore's R&D efficiencies, infrastructure, learning institutions and human capital and its strong high-technology manufacturing base," says CEO Dr Suresh Venkatesan. "Current projects in Singapore include the research and development of the POET Platform for Display applications, as well as the commercialization of POET, DenseLight and BB Photonics Intellectual Property in the fast-growing cata Communications and sensing markets," he adds.

"EDB is committed to developing the compound semiconductor industry through partnerships with companies to perform critical R&D and manufacturing in Singapore," says Pee Beng Kong, EDB's director for Electronics. "Innovations in compound semiconductor technology can enable the next generation of optical communication solutions needed for increasing requirements in data centers," he adds. "We are delighted to partner with POET Technologies to lead DenseLight, a company with a strong Singapore core of talent and activities, to greater heights."

POET is eligible to receive support up to a maximum of S$10.7m over five years pursuant to the EDB letter of offer, subject to headcount and expenditure thresholds. Should the terms of the support agreement with the EDB not be satisfied by POET, the EDB reserves the right to request repayment of any support advanced.

See related items:

POET completes acquisition of BB Photonics

POET completes acquisition of DenseLight

Tags: POET

Visit: www.poet-technologies.com

Visit: www.denselight.com

Visit: www.sedb.com

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