Sivers Semiconductors AB announced that its subsidiary, Sivers Photonics, has received new orders to the value of $1m (approx. MSEK 10) for advanced optical sensing products from three customers across LiDAR, Medical and Industrial sectors.
The new orders, from several US based customers, were received during the first part of fourth financial quarter 2023 and will result in the product manufacture of advanced lasers and optical amplifiers for critical applications, with the majority of the delivery expected throughout 2024.
Sivers Photonics has a world class production facility in Glasgow (UK) and over twenty years’ experience in the design and fabrication of customised III-V compound semiconductor devices. The company is a leading supplier of laser light sources to the Silicon Photonics industry working across a range of customers from Fortune 100 businesses to highly funded, high growth startups.
These latest orders are the result of an increase in demand for Sivers lasers as companies engineer next generation products for autonomous vehicles and smart factories, innovative medical devices and equipment, and multiple new applications across a range of industries.
“These production orders demonstrate the continued strong organic growth across established and emerging optical sensing markets and further validate the technical capability of Sivers Photonics UK wafer fabrication facility” said Andy McKee, MD of Sivers Photonics.
“We have put up a medium-term goal of increasing product sales from currently 30% of our revenue to over 80% by 2026. This is one of many product orders we therefore expect to see, to secure our continued growth that will be fueled by an increased share of product revenue in the coming years.” said Anders Storm, CEO Sivers Semiconductors.