Eco Investor November 2016

Pre-Revenue Securities

Next Step for BluGlass Evaluation

BluGlass and its industry partner Lumileds are moving to phase II evaluation of BluGlass' RPCVD technology for some specific LED applications following the successful delivery of the Phase I technical milestones.

BluGlass has also raised $5 million in a placement to institutions at 32 cents per share, and a share purchase plan at the same price will aim to raise another $2 million.

The capital is to continue the industry collaboration and evaluation agreements with Lumileds, HC SemiTek, and Veeco. There is also a need for new equipment and resources to accelerate the work with the industry partners and to enable the RPCVD technology to be applied to other applications. It will also fund the identification and engagement with potential future collaboration partners, and working capital.

BluGlass is commercializing a low temperature semiconductor technology called Remote Plasma Chemical Vapour Deposition (RPCVD) for the global multi-billion dollar LED and power electronics industries.

The phase I demonstration of the technology delivered technical milestones previously unachieved by RPCVD. BluGlass' chief technology officer, Dr Ian Mann, said the demonstration of these milestones has broken exciting new ground for the technology. "These initial demonstrations indicate that the novel implementation of RPCVD we are working on with Lumileds has certain advantages over the standard MOCVD process," he said.

BluGlass' long serving chairman, George Venardos will retire from the board at the company's annual general meeting on 21 November. Non-executive director Dr William Johnson will replace Mr Venardos as chairman.

Mr Venardos said "The last six years at BluGlass have seen significant technology milestones being reached and the commencement of a number of major industry collaborations and evaluations; which bodes well for the commercialization of our unique RPCVD technology. The appointment of Dr Johnson as my successor as chairman will ensure that the board remains focused on commercializing the RPCVD technology and maximizing value for shareholders." (ASX: BLG)

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