Today, 9th May 2019, BluGlass Limited (ASX: BLG) announced that X-Celeprint, a micro-transfer printing company and a foundry customer of the company, has successfully implemented BLG’s unique RPCVD p-GaN technology in high-performance microLED applications. RPCVD stands for Remote Plasma Chemical Vapour Deposition. As per X-Celeprint, RPCVD p-GaN used in active matrix microLED displays has demonstrated excellent luminance with colour uniformity along with quantum efficiency and forward voltage equivalent to 2,000 cd/m2.
X-Celeprint’s microtransfer printing technology offers cos alt efficiency along with scalable manufacturing platform to LEDs or integrated circuits and integrate lasers onto non-native substrates. X-Celeprint offers custom made designs for micro-transfer printing stamps as well as printers. BluGlass is commercialising breakthrough semiconductor RPCVD technology in the microLED, global LED, and power electronics industries. The company has patented hardware and processes, which provides manufacturers with unique performance advantages due to superior features of RPCVD, which has the ability to perform well in a low temperature and a low hydrogen growth conditions.
X-Celeprint has first adopted BluGlass’s RPCVD for microLED demonstrations. Mr Matt Meitl, X-Celeprint’s VP of Displays, stated that they are working with BluGlass to demonstrate its micro-transfer printing capability for microLED displays. They appreciate BluGlass’ creativity in epi-wafer design, unique capabilities in epitaxial growth, and dedication to continued product improvement, which makes BLG one of the important partners for their product development.
Dr Ian Mann, BluGlass’s Chief Technology Officer, stated that they are pleased to get rewarded for their long effort in developing RPCVD p-GaN to see the technology being trialled in the customer devices. Its application in the emerging microLED display market provides them with the opportunity to grow further. Till now, the microLED prototype has demonstrated good performance, and the company is excited to see their valuable partner X-Celeprint reaping benefits of using RPCVD in their innovative products.
In the previous update, BluGlass published its Quarterly Report ended 31st March 2019. The company highlighted that during the period, BLG has worked on upgrading the facilities and establishment of new laboratories at their Silverwater facility, which is expected to accommodate two additional deposition systems; commercial scale AIX 2800 G4 and BLG-300II. It is anticipated that the BLG-300II will start its first RPCVD growths in the coming weeks.
As for the cash flow from operating activities, BLG reported receipts of $152K from its customers at the end of the quarter. Its R&D expense was reported at $633K, along with advertising and marketing expense of $22K, staff costs of $933K, and administration and corporate costs of $313K.
On the stock information front, at market close on 9th May 2019, the stock of BluGlass Limited was trading at $0.160, up 3.226% with a market capitalisation of $64.86 million. Today, it touched day’s high at $0.175 and day’s low at $0.160, with a daily volume of 410,453. Its 52 weeks high and low price stands at $0.450 and $0.145, with an average volume of 214,654. Its absolute returns for the past one year, six months and three months are -65.56%, -45.61%, and -49.18%, respectively.
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