"As POET moves to the next phase beyond its “lab to fab” transition,..."

FJ, you're certainly correct and Phil wrong about what is being referred to above, however, the word "as" is (intentionally) ambiguous as to where exactly are we relative to the "lab to fab" transition.  Had they said "when," instead of "as," it would have been clear.  Or had the introductory clause been "now that POET is moving," that too, would have been clear.

The above is based on my assumption that the completion of the "lab to fab transition" would be that the VCSEL can be mass produced at the specifications that we all want to achieve.  If that's the case, then the next phase would be to sell the hell out of it, while continuing to develop new products and processes.