Acacia Communications Inc., a Maynard-based developer of optical networking technology, has been awarded a $3 million Emerging Technology Fund term credit facility to help expand its facilities from MassDevelopment.

As part of expanding its facilities, the company will use the proceeds to purchase computer, lab, testing, and calibration equipment, according to a statement.

"Acacia Communication is driving innovation in optical networking to enable ultra-high speed transmission of consumer and business applications such as video, cloud computing, and mobile broadband," said MassDevelopment President and CEO Marty Jones. "The Emerging Technology Fund provides equipment financing for sophisticated technology development, and we’re proud to help Acacia Communications grow in Massachusetts."

Acacia President and CEO Raj Shanmugaraj said the new credit facility will help expand the company’s manufacturing line later this year.