GigOptix $5M Federal Funding for an On-Chip Polymer Modulator Integrated Photonic Transceiver Development Receives Subcommittee Approval

BOTHELL, Wash.-September 14, 2009, -(BUSINESS WIRE)--GigOptix Inc. (OTCBB:GGOX - News) today announces that $5 million in government funding for development of its On-Chip polymer modulator Integrated Photonic Transceiver, which was part of the funding request made by U.S. Senator Patty Murray (D-WA) to be included in the Fiscal Year 2010 Defense Appropriations bill, has received the approval of the Defense Appropriations Subcommittee last week.
This appropriation bill must still receive legislative approval and the signature of the President. Furthermore, if the appropriations are enacted, GigOptix will need to go through an application process before it would receive funding.
The funding would help to develop a new family of cutting edge integrated driver - modulator devices for use by the U.S. Air Force. GigOptix’ technology provides 200 gigabytes in data transmission capability which could decrease the size, weight, and energy usage of some of the military’s most critical technology systems.
Dr. Avi Katz, CEO and Chairman of the Board of GigOptix Inc., said, “Getting the latest technology into the hands of the Air Force improves our military readiness. Creating that technology is what we focus on every day at GigOptix. We’re very grateful to have the support of a leader like Senator Murray who understands the urgency of getting great resources into the hands of military personnel to help them carry out their mission safely, while creating high-tech sophisticated jobs here at home.”
To see Senator Murray’s full statement on the project, please visit http://www.murray.senate.gov/news.cfm?id=317588.
About GigOptix Inc.
GigOptix is a leading fabless manufacturer of electronic engines for the optically connected digital world. The Company offers a broad portfolio of high speed electronic devices including polymer electro-optic modulators, modulator drivers, laser drivers and TIAs for telecom, datacom, Infiniband and consumer optical systems, covering serial and parallel communication technologies from 1G to 120G. For more information, please visit www.GigOptix.com.
Forward Looking Statements
Statements made in this release, other than statements of historical fact, are forward-looking statements, including any statement that refers to expectations, projections or other characterizations of future events or circumstances and those which can be identified by the use of forward-looking terminology such as “expects,” “plans,” “may,” “should,” or “anticipates” and other similar expressions. Forward-looking statements are subject to a number of known and unknown risks, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include whether the appropriations bill will receive legislative approval and ultimately become law, whether GigOptix will receive any funding, whether the modulator developed by GigOptix will be used by the Air Force, and those risks described in GigOptix's periodic reports filed with the SEC, and in news releases and other communications. GigOptix disclaims any intention or duty to update any forward-looking statements made in this release.
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GigOptix Inc.
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