To better serve these and other customers, POET 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.

As a result of this reorganization, the functions of engineering design and manufacturing interface, previously managed by POET's Allentown, PA organization will be transferred to POET's Shenzhen operation, with other functions being transferred to Singapore

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