poet agm slide presentation 2018 - poet technologies, inc
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© POET Technologies Inc. | Public 1© POET Technologies Inc. | TSXV: PTK.V | Public
POET Technologies, Inc.Annual and Special Meeting of Shareholders
June 21, 2018
© POET Technologies Inc. | Public 2© POET Technologies Inc. | TSXV: PTK.V | Public 2
Outside Meeting Room:
9:30am – 10:00am Check-in of Shareholders
Inside Meeting Room:
10:00am – 10:05am Introductions and Call to Order Tom Mika
10:05am – 10:30am Annual General Meeting Dave Lazovsky
10:30am – 11:15am Presentation and Update Suresh Venkatesan
11:15am – 11:45am Q&A Leanne Sievers (moderator)
11:45am – 12:00pm Thanks and Adjourn Dave Lazovsky
Order of Business
© POET Technologies Inc. | Public 3© POET Technologies Inc. | TSXV: PTK.V | Public 3
POET Annual and Special Meeting Agenda
• Appointment of Secretary of Meeting and Scrutineer• Notice of Meeting• Scrutineer’s Report• Destruction of Proxies• Minutes of the Previous Meeting• Financial Statements and Auditor’s Report• Set Number of Directors• Election of Directors• Appointment of Auditors• Approval of Stock Option Plan• Other Business• Termination of Meeting
© POET Technologies Inc. | Public 4© POET Technologies Inc. | TSXV: PTK.V | Public
Integrated PhotonicsTechnology and Business Update
June 21, 2018
© POET Technologies Inc. | Public 5© POET Technologies Inc. | TSXV: PTK.V | Public
Safe Harbor
This presentation contains forward-looking statements and forward-looking information within the meaning of U.S. and Canadian securities laws, including but not limited to statements relating to revenue potential, growth and/or projections such as those included at slides 8, 10, 22 and 23 of this presentation. Forward-looking statements and information can generally be identified by the use of forward-looking terminology or words, such as, "continues", "with a
view to", "is designed to", "pending", "predict", "potential", "plans", "expects", "anticipates", "believes", "intends", "estimates", "projects", and similar expressions or variations thereon, or statements that events, conditions or results "can", "might", "will", "shall", "may", "must", "would", "could", or "should" occur or be achieved and similar expressions in connection with any discussion, expectation, or projection of future operating or financial performance,
events or trends. Forward-looking statements and forward-looking information are based on management's current expectations and assumptions, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict.
The forward-looking statements and information in this presentation are subject to various risks and uncertainties, including those described under the
heading "Risk Factors" in the Corporation's annual information form, many of which are difficult to predict and generally beyond the control of the
Corporation, including without limitation risks: associated with the Corporation's limited operating history; associated with the Corporation's need foradditional financing, which may not be available on acceptable terms or at all; that the Corporation will not be able to compete in the highly competitivesemiconductor market; that the Corporation's objectives will not be met within the time lines the Corporation expects or at all; associated with research and
development; associated with the integration of recently acquired businesses; associated with successfully protecting patents and trademarks and otherintellectual property; concerning the need to control costs and the possibility of unanticipated expenses; associated with manufacturing and development;
that the trading price of the common shares of the Corporation will be volatile; and that shareholders' interests will be diluted through future stock offeringsor options and warrant exercises. For all of the reasons set forth above, investors should not place undue reliance on forward-looking statements.
Other than any obligation to disclose material information under applicable securities laws or otherwise as may be required by law, the Corporation
undertakes no obligation to revise or update any forward-looking statements after the date hereof.
5
© POET Technologies Inc. | Public 6© POET Technologies Inc. | TSXV: PTK.V | Public 6
Topics • Introduction
• Accomplishments
• Commercial Partners
• Product Development Progress
• POET Optical InterposerTM Overview
• Summary
© POET Technologies Inc. | Public 7© POET Technologies Inc. | TSXV: PTK.V | Public 7
POET Accomplishments
• Invented the Optical Interposer Architecture to provide a FLEXIBLE and VERSATILEopto-electronics hybrid packaging platform
• Established a Development and Manufacturing Agreement with SilTerra with favorable economics for Optical Interposer production
• Transitioned the dielectric waveguide from development in university lab to SilTerra production fab to enable seamless high-volume manufacturing ramp
• Established a Memorandum of Understanding with Accelink, as a lead customer and development partner for Datacom and Telecom applications
• Demonstrated 100Gbps Quad-PIN receivers for use with the optical interposer
• Invented new wafer level hermetic sealing technique compatible with the optical interposer assembly process
© POET Technologies Inc. | Public 8© POET Technologies Inc. | TSXV: PTK.V | Public 8
Accelink
• Lead Customer and Development Partner for Datacom and Telecom Solutions
• First products: 100G / 400G ROSA Optical Engines
• Subsequent Products: 100G / 400G TxRx Optical Engines; GPON Telecom solutions
• Early Prototypes to validate Optical Interposer functionality: Q3 2018
• Production Ready Prototypes: Q4 2018
• Production Revenues: 2019
© POET Technologies Inc. | Public 9© POET Technologies Inc. | TSXV: PTK.V | Public 9
SilTerra
POET’s Deposition and Etch tools installed in the SilTerra clean room• Development and manufacturing
partner with foundry capacity to meet Optical Interposer production requirements
• Unique combination of 193nm lithography and Cu Metallization coupled with CMOS and MEMs capability
• Joint development and investment in Optical Interposer volume manufacturing capacity
© POET Technologies Inc. | Public 10© POET Technologies Inc. | TSXV: PTK.V | Public 10
Almae Technologies
• Almae : Spin-off of III-V Lab (joint Nokia, Thales and CEA-Leti industrial research lab) with advanced epi capacity
• Joint development, manufacture and sales of optical engines based on POET Optical Interposer platform for Datacom and Telecom
• First products are high speed lasers for 100G &/ 400G Transmit engines integrated into POET Optical Interposer
• Prototypes expected in Q1 2019 with joint sales in 2019
© POET Technologies Inc. | Public 11© POET Technologies Inc. | TSXV: PTK.V | Public 11
Technology Development Progress since January 2018
Process/ Tools
• Interposer process development and production qualification – target completion in Q3 2018• 8 inch production tools procured and consigned at SilTerra – ready for wafer processing in July
Quad PIN Detector
• Samples delivered in Q2 2018• Product reliability complete through 1800+ hours with no failures• 25Gbps detector performance validated for 100Gbps (4 X 25)• Performance optimization ongoing• Evaluating potential to sell as discrete devices
Optical Interposer
• All required silicon and dielectric process flows established for 8” interposer wafers• Performance optimization for key lithography, deposition, etch processes ongoing
Packaging & Assembly
• Solder process developed and validated• Flip Chip process established with +/- 1um alignment accuracy• Quad PIN Detector RF performance validated after flip chip process• High frequency traces on interposer validated
Dielectric Filters and Waveguides
• Process successfully transferred to SilTerra• Faster development cycles in foundry environment• Mux / demux filter optimization ongoing
© POET Technologies Inc. | Public 12© POET Technologies Inc. | TSXV: PTK.V | Public 12
Topics • Introduction
• Accomplishments
• Commercial Partners
• Product Development Progress
• POET Optical InterposerTM Overview
• Summary
© POET Technologies Inc. | Public 13© POET Technologies Inc. | TSXV: PTK.V | Public 13
Optical InterposerTM
Chip-scale Integration using POET Optical Interposer
Electrical Interposer
Electrical Die 1
Electrical Die 2
Electrical Die 1
Electrical Die 2
Optical Die 1,2
Electrical Interconnections
E le c tr ic a l D ie 1 E le c t r ic a l D ie 2
Optical Layer
Electrical Layer
E le c t r ic a l D ie 1 E le c t r ic a l D ie 2
O p t ic a l
D ie 1
O p t ic a l
D ie 2W a v e g u id e s
First practical application of 3D semi fabrication processes to photonic interposer devices:• Flip chip and under-bump metal• Through silicon vias (TSVs)• Pick and place assembly• Wafer-level test, burn-in and packaging • Compatible with Si CMOS processing
© POET Technologies Inc. | Public 14© POET Technologies Inc. | TSXV: PTK.V | Public 14
POET Optical InterposerTM Platform
Soldier Bump on Die Side
Waveguide LayerActive Die
Wafer Level Hermetic Cap Seat
Metal
W ir e b o n d
P a d
A c t iv e D ie
A t ta c hC u T r a c e
Multi-level (Optical) Cu Backend.Interposer Could Include Passives such as Resistors, MIM Caps etc.
High Resistivity Silicon Substrate
Scribe Street and Fiber Groove
Optical Axis
Extending the functionality of electrical interposers with Optical Waveguides
Low Loss, Low Stress and Low Temperature waveguides enable integration with conventional silicon technology
Waveguides built above top metal enables integration with IC’s
© POET Technologies Inc. | Public 15© POET Technologies Inc. | TSXV: PTK.V | Public 15
POET Optical Interposer with Dielectric Waveguides
H erm etic C ap
Q uad P IN (back side)
Interposer H erm etic C ap
Q uad P IN (front s ide)
InterposerQ uad P IN H ybrid Assem bly
• Optical Interposer - 8” wafer with active devices flip-chipped onto dielectric waveguides
• Using known good devices before final test enables highest yield and lowest cost
O ptical Interposers on 8” W afer Q uad P IN s on O ptical Interposers
© POET Technologies Inc. | Public 16© POET Technologies Inc. | TSXV: PTK.V | Public 16
POET Optical Interposer- based CWDM Laser Module
• Optical Interposer platform enables wafer-level packaging for CWDM Laser “sub-mount”
• Superior thermal properties and simplified packaging
• Hermetically sealed at the wafer level
• Next generation Data Center applications
POET Optical Interposer-enabled Light Engines
H erm etic C ap
Laser D ie
Interposer
© POET Technologies Inc. | Public 17© POET Technologies Inc. | TSXV: PTK.V | Public 17
POET Optical Interposer to solve key industry challenge
• Optics needs to get closer to the source of the data
• Optical Interposers with co-existing electrical and optical interconnections can enable low cost and high reliability optics packaging
Concept proposed by Microsoft at recent OFC conference in San Diego
Co-packaged Solutions with Switch ASICs
© POET Technologies Inc. | Public 18© POET Technologies Inc. | TSXV: PTK.V | Public 18
POETOptical InterposerPlatformA multi-purpose integration platform with unique benefits for transceiver manufacturers in datacom and telecom
KEY DIFFERENTIATORS:
Proprietary Dielectric Waveguides eliminate costly components and “active” alignment
• Ultra-low loss material improves coupling efficiency• Athermal – not sensitive to temperature changes• Passive devices embedded in dielectric at no added cost
System Architecture allows optimal power/performance/cost• Small form factor and elegant lateral optical axis design• High scalability for multiple protocols and increasing data rates• High flexibility platform for customized applications
Full Wafer-level Integration of all components• Fabrication, test, burn-in, packaging all at wafer level• Thousands of devices vs. one device at a time• Known good device assembly improves yield and lowers cost
True Silicon CMOS compatibility a disruptive advantage• On-chip integration with electronic devices• Competitive waveguides (glass, silica, SiN) NOT compatible with CMOS• Multiple applications beyond transceivers
© POET Technologies Inc. | Public 19© POET Technologies Inc. | TSXV: PTK.V | Public 19
Broad Range ofApplicationsData centers
Networking
Automotive
Industrial Sensing
High Performance Computing
© POET Technologies Inc. | Public 20© POET Technologies Inc. | TSXV: PTK.V | Public 20
POET Optical Engines - Addressing top two transceiver market segments
Ethernet Data Centers <1km reach both within and
between data centers
Wide Area Networks (Metro – intermediate) served
by 1km - 10km links
+
+ $-
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
$10,000
2017 2018 2019 2020 2021
Serviceable Available Markets (SAM)
CAGR 27%2017 - 2021
Ethernet Data Centers Wide Area Networks
© POET Technologies Inc. | Public 21© POET Technologies Inc. | TSXV: PTK.V | Public 21
Wafer Fab Costs Packaging and Testing Costs
0% 50% 100%
Electronics
Photonics
• Packaging and testing are a large fraction of BOM cost of conventional Photonics devices
• Integration of devices is the only effective means to:• Improve size, power, cost, speed, reliability and
scalability• Enable new functionalities• Drive disruption in optical communications
Why Integration Matters Approximate Breakdown of Transceiver Costs
Transceiver Margins: 30%
Bill of Materials (BOM): 70%
Electrical Components: 25%
Optical Components: 30%
Packaging: 45%
75% of total BOM
POET’s Optical Engine reduces BOM Cost of
Transceiver by >50% = >100% Margin Increase for
Module Suppliers© POET Technologies Inc. | TSXV: PTK.V | Public21
© POET Technologies Inc. | Public 22© POET Technologies Inc. | TSXV: PTK.V | Public 22
2019 Market Price vs. Modeled POET Price* for 100G Optical Engines
100G Optical Engines PSM4 CWDM
Transceiver Pricing $150 $250
Price ofOptics + Packaging (minus electronics)
~$74 ~$150
Price ofPOET Optical Engine ~$25 - $40 ~$50 - $70
POET Solution
CompetitorOffering
POET Optical Engines can enable < $100 PSM4 Transceivers (< 1$/Gbps)POET Optical Engines can enable < $150 CWDM4 Transceivers
2-3x Reduction 2-3x Reduction
*modeled at production volumes
© POET Technologies Inc. | Public 23© POET Technologies Inc. | TSXV: PTK.V | Public 23
Topics • Introduction
• Accomplishments
• Commercial Partners
• Product Development Progress
• POET Optical InterposerTM Overview
• Summary
© POET Technologies Inc. | Public 24© POET Technologies Inc. | TSXV: PTK.V | Public 24
1H 2018 2H 2018 1H 2019 2H 2019
Optical Interposer Platform Development
• Process transfer to S ilTerra
• M ulti-ch ip m odule qualification
• Portfo lio expansion in datacom (LR4)
• Portfo lio expansion to te lecom (G PO N )
• Portfo lio expansion to sensing (LID AR)
100G Product Milestones
• Q uad PIN qualification
• RO E prototype sam pling
• RO E qualification
• RO E custom er orders
• TRO E prototype sam pling
• TRO E qualification
• TRO E custom er orders
400G Product Milestones
• RO E prototype sam pling
• RO E custom er orders
Datacom Production Milestones
Solid progress with technical execution and strategic customer engagement
R O E = R eceive O ptical Engine TR O E = Transm it and R eceive O ptical Engine
© POET Technologies Inc. | Public 25© POET Technologies Inc. | TSXV: PTK.V | Public 25
Executing on Strategic Growth Plan
• Addressing large and rapidly growing sensing & datacom markets• POET products address multi-billion USD datacom market, growing at >25% CAGR
• Highly differentiated, IP protected technology• Low-cost leadership with highly scalable technology
• Leveraging innovative Optical Interposer platform architecture & proprietary dielectric waveguides
• Significant technology development and product qualification progress • Increased cycles of learning resulting from SilTerra manufacturing partnership
• Tracking to initial customer revenue ramp (including Accelink) starting in 1H 2019
• Manufacturing, assembly and test capabilities and supply chain partners established• Increasing customer traction with tier 1 data communications industry leaders
POET is well positioned for significant growth beginning in 2019
© POET Technologies Inc. | Public 26
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