News summary:

• Project targets new solutions enabled by high-performance electro-photonic integrated circuits
• The investment is part of the Important Project of Common European Interest in microelectronics and communication technologies
• Initiative will strengthen regional supply chains and bolster Europe as a hub of microelectronics and communication innovation

ADVA (FSE: ADV) today announced that the European Commission has approved funding by its member states that will support companies to develop a new generation of microelectronics and communication technologies in Europe. The amount of funding ADVA may receive is not yet determined and will be subject to substantial self-investment. ADVA currently does not expect a significant impact on its financial results. Operating under the Important Project of Common European Interest in microelectronics and communication technologies (IPCEI ME/CT) framework, ADVA‘s initiative will address the growing need for network solutions that deliver high data rates, low cost and reduced power consumption. The project will target network edge equipment built with high-performance electro-photonic integrated circuits (ePICs).

“We’re thankful for the EU’s support in clearing the path for state aid and will work closely with the German government to secure funding for our R&D activities in high-performance electronics and electro-optic transceiver technologies,” said Christoph Glingener, CTO of ADVA.