FlexLight Networks receives $1.5 million from Israel's Office of the Chief Scientist

July 29, 2002--FlexLight Networks, an optical access pioneer delivering a Gigabit Passive Optical Networking (GPON) solution for the last mile, announced it has received a $1.5 million investment on behalf of the Office of the Chief Scientist, the research and development arm of the Israeli Ministry of Trade. This investment is intended to support further development of its optical access technology.

FlexLight Networks, an optical access pioneer delivering a Gigabit Passive Optical Networking (GPON) solution for the last mile, announced it has received a $1.5 million investment on behalf of the Office of the Chief Scientist, the research and development arm of the Israeli Ministry of Trade. This investment is intended to support further development of its optical access technology.

Today's service providers are striving to find economical and efficient solutions to provision high-quality voice and data services to businesses and homes located miles away from the metro rings in suburban locations. FlexLight Networks recently unveiled its GPON optical access product line called Optimate, a suite of products specifically tailored to address these services.

The Ministry of Industry & Trade aids in the strengthening and expansion of the technological base of the Israeli industry through a wide range of support programs that are implemented by the Office of the Chief Scientist of the Ministry, including this fund aimed at supporting promising start-ups in Israel.

The Office of Chief Scientist's decision to invest in FlexLight Networks was the result of a comprehensive study of FlexLight Networks' technology and marketing concepts conducted by expert personnel and veterans of the Israeli high-tech industry.

For more information about FlexLight Networks (Kennesaw, GA), visit the company's website at www.flexlight-networks.com.

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