I firmly believe the +1 is in the cards and may be the target for this tranche. 

I can only guess, but with China ramming ships and making ridiculous territorial claims, Mitsubishi would want nothing to do with Sanan and SPX. If you use that deal as a metric, Sanan put up the money, and SPX is roughly half owned by POET, with a defined market.

If POET can partially fund the Mitsubishi output site, and it will also need to service other lines, they'll need cash to belly up to some kind of deal as an equal, not a poor startup. 

It's not really that much, but it is enough to tie up the real estate for a large manufacturing facility, say, near Singapore in Malaysia. That is just a WAG, but as good as any.