POET reorganizing engineering team in response to AI demand

POET Technologies Inc., a company offering high-speed optical engines, light source products and custom optical modules for the data centre, tele-communication and artificial intelligence markets, has announced a significant reorganization of its engineering operations to better address the increasing demand for high-speed optical products.

In a press release on Aug. 29, POET explained that the major AI network and systems companies are located in North America and China, almost all module makers, including the company’s current customers for optical engines, are located in China, Taiwan and other Asia Pacific countries. To better serve these and other customers, POET said it has established a Global Engineering Organization based in Singapore, which will be led by Dr. Mo Jinyu, Senior Vice President, with the New Product Introduction (NPI) and component engineering teams reporting to her.

The transition will involve transferring engineering design and manufacturing interface responsibilities previously managed by POET’s Allentown, PA organization to its Shenzhen, China operation. Critical product design, customer relationships, global marketing, and intellectual property management will be centralized in Silicon Valley, CA. Administrative functions, including finance and investor relations, will remain based in Toronto, Ont. Other functions will be transferred to Singapore.

Compared to its annualized spend at the beginning of the year, POET states that the annual savings from the closing of the Allentown, PA facility on or before March 31, 2025, will be between U$1.8 million and $2 million annually, with one-time costs estimated at approximately U$250 thousand.

“Now that the Company has a strong balance sheet, we can confidently plan for our future, by streamlining the organization with a laser focus on securing design wins, delivering products and taking volume production orders from customers,” said Dr. Suresh Venkatesan, Chairman & Chief Executive Officer of POET. “We fully expect that the partnerships and customers that we have announced over the past few months will mature into module designs that will qualify with end users and convert to optical engine revenue later this year and into 2025, with ultra-high growth in the years to follow.”