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We fabricated MBE-grown InGaAs/InGaAlAs SCH MQW ridge-waveguide lasers with InGaAlAs digital alloy layers after post-growth rapid thermal annealing using an SiO2 capping layer. The lasers fabricated on as-grown substrate and annealed substrates were compared by I-V and I-L measurements. The electrical characteristics of the annealed lasers were not degraded by the annealing process compared to those of as-grown lasers. The threshold current and slope efficiency of the fabricated lasers were improved with the increase of RTA temperature. For a 10-μm-wide and 600-μm-length laser fabricated after an RTA of 850°C for 45 sec, the internal quantum efficiency of about 27.6% per facet and the threshold current density of about 1.53 kA/cm2 were obtained at room temperature.