U.S.’ NeoPhotonics builds on Rusnano investment and opens R&D center in Moscow
21 May '13
Last week NeoPhotonics, a US-based developer of optoelectronics for high-speed communications networks, opened its R&D center and Russia/Eastern Europe sales office in Moscow, a year after it received a capital injection from Rusnano, Russia’s state-owned nanotech investment corporation, East-West Digital News, the international resource on Russian digital industries, reported yesterday, citing a Rusnano source.
Tim Jenks, chairman and CEO of NeoPhotonics, told Rusnano that he hopes the move will help his company enhance its “research presence and the potential for production of advanced PIC-based solutions.”
In April 2012, the US firm announced the closing of a $39.8 million private placement transaction with Russia’s nanotech giant. The investment, which gave Rusnano about 17% of NeoPhotonics’ newly-issued common shares, was aimed at setting up photonic integrated circuit (PIC)-based production in Russia and has helped provide a fast track for broader adoption of the US firm’s high-speed, agile, and coherent PIC technologies in this country.