Princeton Lightwave Emerges From Stealth Mode To Deliver Active Optical Components; Offers Complete Design From Crystal Growth to Packaging

Business Wire, March 5, 2001

Business Editors, Technology Writers

CRANBURY, N.J.--(BUSINESS WIRE)--March 5, 2001

Princeton Lightwave, Inc. (PLI) emerges from stealth mode today with customers, revenue, and a suite of products for next-generation optical networks.

Its wafer-to-module approach for high power pump lasers, Broadband GainChips and advanced source lasers enables PLI to offer complete component solutions. According to RHK the market for optical components is expected to grow to $23 billion by 2003.

"As the need for optical components grow, PLI appears to be well-positioned emerging from stealth mode with customers, revenue and delivery of products," said Stephen Montgomery, President of Electronicast. "This is a unique position for a company such as PLI to address the demands of the optical component market."

From the beginning, PLI has structured itself to be a leading player in the optical component market. With a 90,000 sq. ft., highly automated manufacturing facility, PLI has the ability to deliver an array of cutting-edge products based on deep expertise in advanced laser design, crystal growth, high-yield wafer processing, thermal management and optical packaging. PLI's extensive experience in these disciplines provides a competitive advantage for customers who partner with PLI throughout the development process.

PLI expects to triple their 50-person team by year end. Fifteen of their current employees have PhDs and six are crystal growth experts, a rare resource in the industry. The company's five founders, originally from Sarnoff Corporation, have more than 100 person-years of experience in this field. The PLI team has demonstrated its industry expertise with a portfolio of over 40 patents filed or pending.

"Our goal is to provide the highest performing active components to the market," said Dr. Pamela York, Vice President of Corporate Development at PLI. "With our culture of innovation, customer commitment, and rapid time-to-market, we are positioned to be a major player."

About Princeton Lightwave, Inc.

Headquartered in Cranbury, NJ, PLI designs, develops and delivers high performance optical components for next-generation networks. The company was founded in May 2000 to meet customer needs for quality optical components. PLI's rich product portfolio is based upon unique chip level design and integration technology. Its multi-disciplinary team has built a world-class manufacturing facility to deliver high power Raman and EDFA pump modules, source lasers and Broadband GainChips (BGCs).

PLI is a privately held venture backed company. PLI was spun out of Sarnoff Corporation in the spring of 2000. In May 2000 the company received $28.5M in a first financing round from the prominent investment firms U.S. Venture Partners, Venrock Associates, and Morgenthaler Ventures.

NOTE: PLI will be exhibiting at the Optical Fiber Conference (OFC) in Anaheim, CA on March 19-21, 2001. They will be introducing new products at their booth, No. 2187.