TORONTO, Oct. 01, 2024 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Agency”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, photonic integrated circuits (PICs) and light sources for the data center, telecommunications and artificial intelligence markets, is was recognized today as the “AI Innovator of the Year” award in the Technology category of the prestigious 2024 Merit Awards. The Gold Prize adds to the company’s recent accolades, including recognition by the 2024 AI Breakthrough Awards for “Best optical artificial intelligence solution”.
“We are thrilled to honor POET Technologies as AI Innovator of the Year. Their revolutionary advances in photonics technology are setting new standards in artificial intelligence, pushing the boundaries of innovation and creativity. This recognition is a testament to their leadership, vision and commitment to revolutionizing AI solutions. We congratulate the entire POET Technologies team on this well-deserved achievement,” says Marie Zander, Executive Director, Merit Awards.
Merit Awards winners in 2023 included major companies such as Nvidia, Intel, and Oracle. Established in 2022, the Merit Awards are judged by industry executives, Merit Awards staff, media and consultants. The awards recognize global leaders in a range of industries who are shaping the future.
“POET Optical Interposer™ continues to gain recognition because the commercial viability of its applications is advancing the performance goals of leaders in the AI networking and data center industries. Our recent agreements with Mitsubishi Electric, Luxshare Tech and Foxconn Interconnect Technology demonstrate why industry observers have been impressed with what the POET team has achieved,” says Dr. Suresh Venkatesan, President and CEO of POET. “Winning the Gold Prize for ‘AI Innovator of the Year’ is another validation for our platform technology. We thank the organizers of the Merit Awards for the honor and for shining a spotlight on transformative companies around the world.”
About POET Technologies Inc.
POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence system market and large-scale data centers. POET’s photonics integration solutions are based on the POET Optical Interposer™, a new patented platform that enables the seamless integration of electronic and photonic devices on a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products cost less, consume less energy than comparable products, are smaller in size, and are easily scalable for high production volumes. In addition to providing high-speed optical engines and optical modules (800G, 1.6T and above) for large-scale AI clusters and data centers, POET has designed and manufactured new light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency issues in AI systems. POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, autonomous “Edge” computing applications, and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in Allentown, Pennsylvania, Shenzhen, China and Singapore. More information about POET is available on our website at www.poet-technologies.com.
Information on merit awards
Designed to recognize the efforts of global industries and the markets they serve, the Merit Awards will recognize companies that have contributed to continued market growth. The Merit Awards are judged by industry executives, Merit Awards staff, members of the media and consultants. For more information, please visit our website at http://www.merit-awards.com.
Forward-Looking Statements
This press release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the United States Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate,” “believe,” “expect,” “plan,” “intend,” “potential,” “estimate,” “propose,” “project,” “outlook,” predict” or similar words that suggest future outcomes or statements regarding any potential outcome. Such statements include the Company’s expectations with respect to the success of the Company’s product development efforts, the performance of its products, the expected results of its operations, the achievement of revenue objectives and the expectation of continued success in financial efforts, capabilities, functionality, performance and costs of the Company’s technology, as well as market acceptance, inclusion and timing of the Company’s technology in current and future products, and expectations regarding its successful penetration of artificial intelligence hardware markets.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions that could cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions were made regarding, among other things, the size, future growth and needs of AI network providers, management’s expectations regarding the success and timescales for completion of its development efforts, the introduction of new products, financing activities, future growth, personnel recruitment, reorganization efforts, planning and completion of projects by the Company’s consultants, contractors and partners, availability of capital and the need to incur capital and other expenditures expenses. Actual results may differ materially due to a number of factors, including, without limitation, the inability of artificial intelligence networks to continue to grow as expected, the inability of the Company’s products to meet performance requirements for artificial intelligence and data communications networks, lack of sales in its products, failure of its customers to sell to end users, operational risks in completing the Company’s projects, risks affecting the Company’s ability to complete its products , the Company’s ability to generate sales for its products, the ability of its customers to generate sales for products incorporating the Company’s products, the ability to attract key personnel, the failure of its reorganization efforts, and the ability to raise capital additional when necessary. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on the forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information and statements contained in this press release are as of the date of this press release and the Company undertakes no obligation to update or revise such forward-looking information and statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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