Discovery Semiconductors Wins Tibbetts Award

In a Washington D.C. ceremony, Discovery Semiconductors, Inc. received the Tibbetts Award, a prestigious national award recognizing the company's success in developing commercial business from Small Business Innovation Research (SBIR) contract research. The award recognizes the company's success in developing high-input power 60 GHz photodiodes and in commercializing them to serve the telecommunications and aerospace communities. The SBIR funding made possible this dual-use technology of a key component for new terabit fiber optic links while reducing the cost to the government for replacing copper RF links with more secure fiber links. The award also recognizes the company for generating new jobs and tax revenues.

The Award is named for Roland Tibbetts - acknowledged as the father of the SBIR program. These prestigious national awards are made annually to those small firms, projects, organizations and individuals judged to exemplify the very best in SBIR achievement. In the nomination selection, an emphasis is on recognizing those accomplishments where the stimulus of SBIR funding has made an important difference.

The company also was recognized by Deloitte & Touche for the second year in a row as one of the fastest growing companies in New Jersey, with a growth of ~400% each year.

Discovery recently exhibited at the European Conference on Optical Communications (ECOC) show in Amsterdam. Introduced were its 100 KHz to 35 GHz optical receiver and its new fiber pigtailed packages: an 8-pin package with single output, another 8-pin package with differential outputs and a miniature co-planar package with differential outputs. Most of the company's wide array of 10 & 40 Gbits/sec products will soon be available in these new packages.

About Discovery Semiconductors, Inc.

Discovery Semiconductors, Inc. is an ISO 9001:2000 certified, high-technology manufacturing company making optical receivers for 10, 40, and 80 Gb bandwidths.

Discovery has successfully demonstrated the market demand of the telecommunications and aerospace industries for its technology. It has been recognized as one of the fastest 50 growing high-tech companies in New Jersey for two straight years, 2000 and 2001.

Discovery is a privately owned, fiscally conservative company, built by leveraging the technology developed under a number of Small Business Innovation Research (SBIR) contracts issued by the US Government. Working capital has been provided by Summit Bank backed by the New Jersey Economic Development Authority (NJEDA) and by reinvesting proceeds from commercial operations. Management is focused on maintaining profitability while building the company's manufacturing and distribution infrastructure. Since 1998, it has expanded its distribution globally, serving over 400 organizations in the telecommunications, data communications and aerospace industries. Its goal is to become an independent Fortune 1000 company within 5 years.

For information about any of our products, please contact us at: (609) 434-1311 or fax: (609) 434-1317.