2023-05-11 08:06:59 ET
- POET Technologies ( NASDAQ: POET ) price trades 7.7% higher on Thursday pre-market as it announced the first volume production order for its optical engines placed with the company’s 80%-owned joint-venture company, Super Photonics Xiamen (SPX).
- The order is valued at more than $3M, the purchase order was placed by Beijing FeiYunYi Technology.
- It will produce optical transceiver modules using POET-designed optical engines for sale to telecom and data center markets globally.
- This initial volume purchase order was placed against BFYY’s 3-year forecast of $30M in expected optical engine purchases.
- POET and SPX expect to complete the design verification testing and reliability qualification of POET ONE by Q4 2023 and then start production shipments to BFYY in early 2024.
For further details see:
POET Technologies scales 8% on securing first volume purchase order for optical engines