FiberCore Gets Financing for POVD Process

CHARLTON, Mass., Dec. 12 -- FiberCore Inc. has received commitments to finance a pilot plant for the company's plasma outside vapor deposition (POVD) technology, for which it received a US patent in March 2001.

The POVD technology will be used initially in one of the manufacturing steps of single-mode preform. Ultimately it will be used to manufacture complete multimode preforms. The first phase of the POVD commercialization project will require a total investment of $9 million. Approximately 75 percent of the funds will consist of bank loans and grants from agencies of the German government, with FiberCore investing the remainder of the funds in the form of equity.