VSK Photonics Gets Busy

LAKE FOREST, Calif. -- VSK Photonics, Inc., a supplier of active optical components for fiber-optic communications, today announced that it had reached three major milestones. * It has moved into a state-of-the-art headquarters facility in Lake Forest where it will produce Indium Phosphide based optical components. The components will initially find applications in next generation 10 Gigabit systems, both long haul and metro. Ultimately, they promise to become key elements in 40 Gigabit systems.
* It has financed equipment for the new plant with a $6-million lease line from Lighthouse Capital Partners, a leading provider of debt funding to technology growth companies. Coming after VSK's initial equity financing of $18-million earlier this year by Intel Corp. and Morgenthaler Ventures, the new line brings VSK's total funding to date to $24-million.
* It has appointed John A. Creelman as Chief Financial Officer and VP Finance. Creelman comes to VSK from Copper Mountain Networks, Inc., where he was Vice President Finance and CFO. While at Copper Mountain, he managed the finance, administrative, human resources, MIS and facilities functions during a period of hyper-growth. He also led Copper Mountain's 1999 IPO effort. Before taking on his role at Copper Mountain, Creelman had served in various financial and operations management positions at several technology-based growth companies. "From our beginnings as a startup with exciting technology, we have now reached the next stage of corporate maturity," says Don Ackley, VSK President and CEO. "We are increasingly well-positioned to become an integral part of the communications industry's next growth phase." VSK Photonics Inc.