POET Technologies Inc., a designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs), and light sources for the data center, telecommunication, and artificial intelligence markets, has announced that it has signed a Master Agreement, an Optical Engine Purchase Agreement, and a Deed of Consignment with Globetronics Manufacturing Sdn. Bhd. (GMSB) to manufacture optical engines in Penang, Malaysia.<
The agreements mark a significant step in expanding POET’s manufacturing capabilities, with GMSB engaged to assemble and test optical engines based on POET’s exclusive designs. The Deed of Consignment covers the installation of wafer-level process equipment purchased by POET at GMSB’s Penang facility. Under the three-year Master Agreement, POET and GMSB have established a project plan for the equipment installation and start-up, with related costs absorbed by POET. Purchase orders for optical engines will be submitted under the Optical Engine Purchase Agreement, with pricing determined by engine type.
In support of the collaboration, Globetronics Technology Berhad (GTB) has allocated RM7.7 million (approximately $1.7 million USD) for additional capital expenditures to support the manufacturing of optical engines for POET through 2027.
Super Photonics Joint Venture Update
Further to POET’s November 25, 2024, announcement of a binding Memorandum of Understanding (MOU) with Quanzhou Sanan Optical Communication Technology Co., Ltd. (“SAIC”), the Corporation is progressing with its plan to acquire SAIC’s 24.8% equity interest in Super Photonics Xiamen (“SPX”). Negotiations are expected to conclude by December 31, 2024, with binding definitive agreements to follow.
Upon completion of the transaction, POET intends to continue operating SPX while advancing a wafer-level assembly operation for optical engines at GMSB. This strategy, referred to as “China Plus One,” diversifies POET’s production footprint while maintaining SPX’s capabilities.
Fully Subscribed Public Offering
POET also confirmed that its $25 million public offering, announced on December 12, 2024, has been fully subscribed by a single institutional investor. The closing is expected to occur following the completion of the SPX transaction. The offering remains subject to regulatory approvals, including TSX Venture Exchange acceptance and customary closing conditions.
This release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction where such activities are prohibited.
About POET Technologies Inc.
POET (TSX Venture: PTK; NASDAQ: POET) is a design and development company delivering high-speed optical modules, optical engines, and light source products for artificial intelligence systems and hyperscale data centers. Its photonic integration solutions leverage the POET Optical Interposer™, a patented platform enabling seamless integration of electronic and photonic devices into a single chip using wafer-level semiconductor manufacturing techniques.
POET’s Optical Interposer-based products are cost-efficient, energy-saving, compact, and scalable for high production volumes. Applications include high-speed optical engines (800G, 1.6T and beyond) for AI clusters and data centers, as well as light source products addressing chip-to-chip data communication challenges in AI systems. The platform also supports 5G networks, edge computing, and sensing applications such as LIDAR for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in Allentown, PA; Shenzhen, China; and Singapore.
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Source/Photo Credit: POET Technologies
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