BluGlass Limited

• BluGlass has raised AUD 4.3M via a Placement to institutional and sophisticated investors
• SPP Offer to raise up to AUD 9M; allows existing shareholders to participate on the same terms
• Funds will be used to scale product delivery to fulfill new and existing contracts, additional fab equipment, and working capital

Highlights:

• Signed A$2.6 million contract with North Carolina State University (NCSU) for laser development activity, as part of the Commercial Leap Ahead for Wide Bandgap Semiconductors (CLAWS) Hub
• Acquired contract manufacturer GaNWorks Foundry and completed vertical integration at BluGlass’ Silicon Valley fab
• Continued to grow customer engagement, and secured first purchase order of prototype gallium nitride Distributed Feedback (DFB) lasers
• Received $7.3 million R&D Tax Rebate

Highlights:

• BluGlass has received its first purchase order of alpha prototypes of its blue GaN Distributed Feedback (DFB) lasers
• Customer will use the 450nm DFB prototypes for testing in the development of next-generation defence, aviation, and scientific applications

• CEO Jim Haden, speaks to Finance News Network about the company’s $2.6M defense contract win and the recent strategic acquisition of GaNWorks Foundry.
• The video is available to stream here: www.bluglass.com/investor-webcast

US-based Stonegate Capital Partners has published a research update on BluGlass.

The report provides a description of:

• the GanWorks Foundry acquisition
• BluGlass’ contract with NCSU for laser development in the CLAWS Hub as part of the US Department of Defense Microelectronics Common
• a Stonegate Capital Partners company valuation of A$ 0.15 – A$ 0.19 per share

BluGlass Chair, James Walker presented at the Automic Invest 2023 Conference in Sydney; providing an update on the GaN laser market, BluGlass’ competitive position, and the Company’s AU$2.6M CLAWS Contract as part of the US Department of Defense’s Microelectronics Commons.

The recording is now available to stream here.

Highlights:

• BluGlass has acquired contract manufacturer GaNWorks Foundry, Inc. to complete vertical integration of its Silicon Valley fab
• Under the agreement, BluGlass has acquired core GaN wafer processing capabilities from GaNWorks Foundry, Inc. to be installed at BluGlass
  • In-sourcing these final steps of the manufacturing supply chain scales BluGlass’ commercial operations, fast-tracks development timelines, and increases production capability
  • Further reduces manufacturing complexity and wafer production costs
• The US$800,000 acquisition comprises US$120,000 cash and US$680,000 in new BluGlass shares
  • The cash component is being funded by the receipt of the Company’s $7.3M R&D rebate

Highlights:

• BluGlass has signed a US$1.775M (AU$2.6M) contract with North Carolina State University (NCSU) for laser development activity in FY24
  • The contract is part of the US$39.4M Commercial Leap Ahead for Wide Bandgap Semiconductors (CLAWS) Hub, led by NCSU
  • It is in support of an award for year one under the US Department of Defense’s US$2B Microelectronics Commons program which has been appropriated for a total of five years.
• As a member of the CLAWS Hub, BluGlass is an approved commercial manufacturing supplier of photonic gallium nitride (GaN) lasers

Highlights:

• BluGlass chair James Walker will present at the Automic Invest 2023 Conference
  • The Mint, Sydney and online, Tuesday 5 December at 1.30pm
  • The in-person and virtual event is free to attend by registering here