SANTA CLARA, Calif., Dec. 5, 2006 (PRIME NEWSWIRE) -- Redfern Integrated Optics, Inc. (RIO), a developer and manufacturer of low-cost, high-performance optical transmitters for the telecommunications, data transmission and other markets, today announced that it has secured an additional $7 million from TMT Ventures, Tallwood Venture Capital and Jolimont Capital. In connection with the new equity financing, Teresa Engelhard of Jolimont Capital joined RIO's board of directors.
"We have proven the value proposition of our silicon integrated photonics products by delivering low-cost, long-reach, high data rate communications optics in small form factors, with very low-power dissipation and unparalleled wavelength stability - across industrial temperature range," said Radu Barsan, president and CEO of RIO. "RIO has made substantial progress over the past fiscal year, has diversified its product portfolio and has seen increased market traction with several new design wins. This additional financing is a testimony to the confidence in RIO's commercial success."
According to a recent report from CIR, a market research and consulting firm based in Charlottesville, VA, the market for 10-Gbps and 40-Gbps optical modules used in telecommunications and data communications equipment will grow from $880 million in 2006, to $4.2 billion by 2011.
"Telecom and datacom markets have strengthened in 2006," noted Dr. Michael Lebby, president and CEO of the Optoelectronics Industry Development Association (OIDA), who has recently released its annual Global Optoelectronics Industry Market Report and Forecast. "RIO is in a good position to capitalize on the rising tide of demand for high performance, low-cost optical components, especially in the 10Gbps segment."
Teresa Engelhard, partner at Jolimont Capital remarked, "The tide has turned and optical backbone capacity is growing again, driven by rapidly increasing broadband demands at the edge. With its proven external cavity laser technology, RIO is uniquely positioned to deliver the full range of intermediate, long-reach and ultra long reach transmit optical subassemblies (TOSAs) that meet the requirements for the new generations of 10Gbps and 40Gbps systems. I look forward to working with the world-class team at RIO, as the company continues its successful trajectory."
About RIO Inc.
RIO (Redfern Integrated Optics, Inc.) develops and manufactures optical transmitters based on proprietary silicon planar technology (PLANEX(tm), which enable transceivers and transponders to deliver telecom-grade performance with datacom economics. RIO's product line includes cost effective directly modulated MSA compliant TOSA devices with extended reach, DWDM wavelength stability and low power dissipation, with modulation rates of 2.5-Gbps, 3.125-Gbps, 4.25-Gbps, and 10-Gbps for Ethernet, Fibre Channel and SONET/SDH applications. RIO's laser design meets the small size, low power and low cost requirements of all 10G hot pluggable module MSAs including XFP and SFP+. For more information about RIO, please visit http://www.rio-inc.com/