Dr. Michael
Lebby to Host Corporate Update Presentation, Tour of
Englewood Facility and Live Device Demonstration Following Annual
Meeting of Shareholders on May 22,
2024
ENGLEWOOD, Colo., May 13, 2024 /PRNewswire/ -- Lightwave
Logic, Inc. (NASDAQ: LWLG), a technology platform company
leveraging its proprietary electro-optic (EO) polymers to transmit
data at higher speeds with less power in a small form factor, today
provided a corporate update in conjunction with the filing of its
Quarterly Report on Form 10-Q for the first quarter ended
March 31, 2024.
First Quarter 2024 and Subsequent Company Highlights:
- Over 20 major corporations have viewed Lightwave Logic's
technology demo of our polymer modulators with world-class
performance of 200Gbps at 1V drive voltage.
- Provided details on how polymer modulators are now being
fabricated on standard industry 200mm silicon wafers at a
commercial silicon foundry
- Demonstrated thought leadership with critical contributions to
the recently published global "Integrated Photonics System Roadmap
- International" (IPSR-I) to accelerate the high-volume commercial
manufacturing of high-value integrated photonics over the next
decade and beyond.
- Secured new patent for diamondoid non-linear optical
chromophore patent to improve stability and performance of
Lightwave's proprietary polymer materials for datacenter
applications to address increasing generative AI demand across the
internet.
- Achieved world-class performance of the company's Perkinamine®
EO polymer material operating in an optical interconnect link, at
437.1Gbps employing a PAM8 178GBaud signal encoded by a plasmonic
Mach Zehnder modulator (MZM).
- Invited to present the company's latest polymer results at the
2024 International Optical Fiber Conference (OFC) in San Diego, California.
- As of March 31, 2024, the company
had cash and cash equivalents of $31.5
million, enabling the company to finance operations through
August 2025.
- Invited to speak at leading industry and investor conferences
internationally, including the 36th Annual ROTH Conference, LD
Micro New York Invitational XIV, and the Sequire Puerto Rico
Investor Summit
The full text of the Company's Quarterly Report on Form 10-Q for
the quarter ended March 31, 2024 was
filed with the SEC on May 10, 2024
and can be found here.
Management Commentary
"The first quarter of 2024 demonstrated our continued leadership
in the photonics industry with world class performance for our
technologies and critical contributions to the new global
integrated photonics industry roadmap," said Dr. Michael Lebby, Chairman and Chief Executive
Officer of Lightwave Logic. "These accomplishments serve as
highlights for ongoing engagement with a wide spectrum of companies
to discuss additional licensing agreements for our EO polymer
materials, including innovative start-ups, existing OEMs and tier-1
multinational corporations that have optical network systems
businesses designed to address emerging applications including
generative AI.
"The latest world-class performance of our Perkinamine® EO
polymer material was recently achieved operating in an optical
interconnect link, at 437.1Gbps employing a PAM8 178GBaud signal
encoded by a plasmonic Mach Zehnder modulator (MZM). The data
center industry is currently focused on exceeding 200Gbps per lane,
primarily driven by generative AI opportunities. 200Gbps per lane
with 4 lanes is a current interest for 800Gbps pluggable
transceiver manufacturing, which our company's EO polymers have
easily achieved. This world-class result, achieving data rates of
400Gbps per lane, demonstrates that our company's EO polymers are
capable of exceeding double the current industry expectation. This
has the potential to enable 4 channel 1.6Tbps (1600Gbps) pluggable
transceiver modules, which is on the roadmap of datacenter
operators today.
"At the 2024 Optical Fiber Conference (OFC) we discussed more
world-class results based on a novel packaged heterogeneous polymer
EO modulator design leveraging silicon photonics devices from a
200mm production foundry process and our proprietary high
temperature, high performance EO polymer material. Each modulator
was operated at 100GBaud PAM4 and achieved all drive voltages below
2V, and as low as 1V, which is excellent for low power operation.
This demonstrates that a hybrid approach, leveraging the cost and
integration benefits of silicon photonics along with the
unparalleled bandwidth and low power advantages of our proprietary
EO polymers, lays a clear path for competitive performance and
integration for today's and future optical pluggable transceivers.
These results will position us to support the burgeoning demand of
generative AI as datacenters around the world begin to upgrade
their hardware faster than expected to meet the demands of the
future.
"A new patent during the quarter advances the overall
performance of our EO chromophores and their use in high-speed, low
power and commercial-grade EO polymer modulators. The proprietary
chromophores are designed with Diamondoid molecular groups that are
attached to the chromophore. Results show that when these
chromophores are dispersed in a host polymer matrix, the EO
materials result in improved macroscopic EO properties, increased
poling efficiency, increased loading as well as increased stability
of these materials after poling. We see this material as a key
component for next generation 800Gbps and 1600Gbps pluggable
optical transceiver modules that further support the rise of
generative AI and upgrading of datacenter hardware equipment.
"Highlighting our leadership position, we substantially
contributed to the recently published "Integrated Photonics System
Roadmap - International" (IPSR-I) to accelerate the high-volume
commercial manufacturing of high-value integrated photonics over
the next decade and beyond. The requirements included in the
roadmap comprise the commercial factors that will compose and grow
the accelerating photonics industry going forward for all
companies, with our focus on our Perkinamine® Electro-Optic
polymers. The integrated photonics roadmaps both plan and
anticipate commercial opportunities as well as potential roadblocks
and/or critical needs on the way to scaling the manufacturing of
integrated photonics through 2040. The silicon semiconductor
industry has relied on these types of roadmaps for the past 50
years and with IPSR-I, the photonics industry is becoming organized
and more influential as well.
"Taken together, in our conversations with potential customers,
we are highlighting how our polymers are fast, low power and robust
in a smaller footprint. We are also providing reliability data and
demonstrating our ability to produce at scale with our facilities
expansion in 2023. Given our robust cash position with no debts -
we believe that we are well positioned to serve as a value-added
partner in the quarters and years to come. We hope many of you will
join us at our Annual Shareholder Meeting on May 22, 2024 which will be followed by a tour of
our Englewood facility and a device demonstration," concluded
Lebby.
Benzinga All-Access Interview
Dr. Michael Lebby, Chairman
and Chief Executive Officer of Lightwave Logic, will host a
fireside chat at 10:50 a.m. Eastern
time today with the hosts of the Benzinga All-Access show to
discuss the Company's first quarter 2024 corporate updates, recent
milestone achievements and potential near-term catalysts. To watch
the interview, please refer to the access information below.
Benzinga All-Access Show
Date: Monday, May 13, 2024
Presentation Time: 10:50 a.m. Eastern
time
Webcast: https://www.youtube.com/watch?v=h6CgGnM7R-c
An audio webcast and an archived replay will be available using the
webcast link above.
About Lightwave Logic, Inc.
Lightwave Logic, Inc. (NASDAQ: LWLG) develops a platform
leveraging its proprietary engineered electro-optic (EO) polymers
to transmit data at higher speeds with less power in a small form
factor. The company's high-activity and high-stability organic
polymers allow Lightwave Logic to create next-generation photonic
EO devices, which convert data from electrical signals into optical
signals, for applications in data communications and
telecommunications markets. For more information, please visit the
company's website at www.lightwavelogic.com.
Safe Harbor Statement
The information posted in this release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify these
statements by use of the words "may," "will," "should," "plans,"
"explores," "expects," "anticipates," "continue," "estimate,"
"project," "intend," and similar expressions. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected or anticipated.
These risks and uncertainties include, but are not limited to, lack
of available funding; general economic and business conditions;
competition from third parties; intellectual property rights of
third parties; regulatory constraints; changes in technology and
methods of marketing; delays in completing various engineering and
manufacturing programs; changes in customer order patterns; changes
in product mix; success in technological advances and delivering
technological innovations; shortages in components; production
delays due to performance quality issues with outsourced
components; those events and factors described by us in Item 1.A
"Risk Factors" in our most recent Form 10-K and 10-Q; other risks
to which our company is subject; other factors beyond the company's
control.
Investor Relations Contact:
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
949-259-4987
LWLG@mzgroup.us
www.mzgroup.us
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SOURCE Lightwave Logic, Inc.