Business

FlexLight Networks receives additional grant from Office of Israeli Chief Scientist

July 29, 2003

29 July 2003 Atlanta, GA and Kfar Saba, Israel Lightwave--FlexLight Networks, a supplier of Gigabit passive optical networking (GPON) equipment has received an additional $900,000 investment on behalf of the Office of the Chief Scientist, the research and development arm of the Israeli Ministry of Trade.

This tranche of investment recognizes the International Telecommunication Union's decision to confirm GPON as a standard and hails FlexLight Network's own technological innovation and market direction.

"Our commitment to supplying operators and service providers with a scalable, robust, and cost-effective platform is both reflected in, and endorsed by, this important decision,"said Gary Lee, chief executive officer, FlexLight Networks. "The new grant will be used to support our R&D [research and development] efforts in Israel."

The three current GPON standards, G.984.1, G.984.2 and G.984.3, not only validate FlexLight's proposition but also position the company as a first-to-market
pioneer. G.984.1 is the standard for the general characteristics of GPON systems, such as architecture, bit rates, reach and security, whilst G.984.2 specifies speeds of up to 2.5 Gbits/sec--at least twice the speed of previous standards and G.984.3 covers the overall protocols used to efficiently carry voice, video, and data over the GPON.

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.

Founded in September 2000, FlexLight Networks' offers the Optimate suite of GPON optical access products. The company is funded through investment from Accel Partners, Applied Materials Ventures, Concord Venture Capital Fund, Coral Ventures and St. Paul Venture Capital.