With control of SPX, POET can now implement its “China Plus One” strategy to locate its wafer-scale assembly operations outside of China. The company is also in negotiations with several contract manufacturers in Malaysia to become the focal point for POET’s wafer-scale assembly of optical engines. The company expects to sign an agreement this month and to start operations by the end of the year. The expansion will significantly increase the company's production capacity to meet the projected needs of its customers for 800G optical engines being sold to AI networks through 2026.
Key takeaways:
- POET Technologies Inc. is expanding its optical engine production capacity in Malaysia.
- The company has signed a Memorandum of Understanding with Quanzhou Sanan Optical Communication Technology Co., Ltd. to transfer its 24.8% stake in the joint venture Super Photonics Xiamen, along with all the production equipment.
- POET is planning to start operations by the end of the year and expects to have an assembly and test capacity exceeding one million optical engines per year.
- The company has also entered into an agreement with 1123963 B.C Ltd DBA CAPITALIZ ON IT to conduct market awareness and marketing services.