Posted Monday, September 30, 2002
Lights go out at local photonics firm
By Brian Salisbury, Ottawa Business Journal
Trillium Photonics is dead. The Ottawa Business Journal has learned the maker of amplifier components for fibre-optic networks will wind down operations as of Tuesday.
"Our market is telecommunications and photonics, and that market has become very difficult. We expect this to continue through 2003 and beyond," said Trillium CEO Brian Jervis.
The company's board of directors made the decision to wind down operations at a board meeting last week. With an undisclosed amount of venture capital left in the bank, Trillium will return the money to its investors, who include Mohr Davidow Ventures, JK&B Capital, Mitsubishi International Corp. and Spectrum Equity Investors.
After being spun out from the National Research Council in September 2000, the company attracted US$6.8 million for startup capital. That was followed in January 2002 by a US$29 million round of financing that was supposed to have secured its cash position until 2004.
The company was headquartered out of Ottawa and had offices in Pleasanton, CA. It employed 42 people.
Lights go out at local photonics firm
By Brian Salisbury, Ottawa Business Journal
Trillium Photonics is dead. The Ottawa Business Journal has learned the maker of amplifier components for fibre-optic networks will wind down operations as of Tuesday.
"Our market is telecommunications and photonics, and that market has become very difficult. We expect this to continue through 2003 and beyond," said Trillium CEO Brian Jervis.
The company's board of directors made the decision to wind down operations at a board meeting last week. With an undisclosed amount of venture capital left in the bank, Trillium will return the money to its investors, who include Mohr Davidow Ventures, JK&B Capital, Mitsubishi International Corp. and Spectrum Equity Investors.
After being spun out from the National Research Council in September 2000, the company attracted US$6.8 million for startup capital. That was followed in January 2002 by a US$29 million round of financing that was supposed to have secured its cash position until 2004.
The company was headquartered out of Ottawa and had offices in Pleasanton, CA. It employed 42 people.
